Best way to send money to Italy from Australia | Finder

Send money to Italy

Find the best exchange rate and low fees when you send money to Italy from Australia.

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There are lots of companies and banks that offer money transfers to Italy, and by comparing exchange rates and fees, you can find the best deal for your next transfer.

Send money to Italy with TorFX

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

  • No transfer fees
  • Price match guarantee
  • Dedicated account manager assigned to you
  • Forex tools available
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Compare international money transfers to Italy

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Italy with our money transfer partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.642 EUR
6,418
Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
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AUD 250 1 - 2 days AUD 0.00 0.644 EUR
6,435
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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AUD 1 1 day AUD 50.00 0.643 EUR
6,398
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
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AUD 1 Same day AUD 0.00 0.643 EUR
6,430
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.644 EUR
6,443
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.644 EUR
6,437
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
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AUD 2,000 1 day AUD 0.00 0.644 EUR
6,436
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
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AUD 5 1 - 2 days EUR 3.00 0.64 EUR
6,397
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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AUD 1 Same day AUD 3.99 0.639 EUR
6,383
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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AUD 200 1 - 2 days AUD 50.00 0.646 EUR
6,423
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
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AUD 1 1 - 2 days AUD 45.00 0.646 EUR
6,434
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What's the best way to send money to Italy?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Italy. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you'll typically face higher fees and weaker exchange rates when going that route.

Digital money transfer services

Companies like XE specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's Italian bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram, Remitly and Western Union allow you to transfer cash for pickup at a local branch in Italy— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.

Banks

Italy uses the euro. The euro is a popular currency, so your local bank may be able to exchange them. If your bank supports the euro, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Italy.

Let's crunch the numbers: Sending $1,000 to Italy

Let's say you need to send $1,000 to family in Italy. Here's what you might face as far as fees and exchange rates as of 13 November 2020.

Digital money transfer serviceCash transferBank transfer
Fee$5$60$9 + additional correspondent bank fees
Exchange rate1 AUD = 0.61 EUR1 AUD = 0.57 EUR1 AUD = 0.59 EUR
Transfer speed1-2 daySame day2-5 days
Amount receivedEUR 610EUR 575.25EUR 588
Verdict
  • Best value
  • Fastest
  • Slowest

The digital money transfer option ends up being the best value, while a cash transfer is faster.

How to send money to Italy online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their Italian bank account information.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Italy. Some money transfer providers send a text or email when your transfer is complete.

What are the ways that I can send money to Italy

  • Bank transfers. Many major Australian banks will allow you to send money to Italy.
  • Money transfer providers. Providers like XE and CurrencyTransfer can help you quickly and easily transfer your money online.
  • Providers with cash pickup. Western Union, Remitly and MoneyGram allow you to send funds for cash pickup at agent locations.
  • PayPal. Electronic payment giant PayPal allows you to send money from Australia to Italy.
  • Checks and money orders. Although not a quick option, you could send an international check overseas if necessary.

Learn more about using euros in Italy

How to get the most out of your money transfer to Italy

Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Italy to best meet your needs:

  • Exchange rates. The AUD-EUR relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line if the euro rises against the Australian dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger AUD-EUR exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of euros you're sending to Italy.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Italy.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a Italian bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to Italy

When urgency trumps cost to get your money to Italy quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Italy without a bank account

Cash transfer services can help you if you're unbanked or marginally banked. If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Italy's exchange rates explained

The exchange rate determines how much one country's currency is worth in another country's currency. When a country's currency is strong, it yields more money when exchanging it in a country with a weaker currency. Italy's exchange rate is flexible compared to the Australian dollar, and the AUD-EUR relationship typically changes daily. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Track how the euro in Italy trades against the Australian dollar in our historical rate chart.

1
0
Updated: 20 Apr 2021 02:12:49 UTC

Today's exchange rate AUD to EUR

Documents needed for sending to and receiving money in Italy

To send money to Italy from Australia, you'll need government-issued ID and other documents, while documents needed to pick up money in Italy may differ by company.

Documents to send money from Australia

To send money from Australia to Italy, you'll need documentation and details that include:

  • Identification. Most services require a driver's license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient's name as it appears on their ID, along with their phone number and Italian bank account information.

Documents to receive money in Italy

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer's confirmation details — called a PIN, an MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. An Italian Passport, Italian ID or similar official ID that is valid in the EU may be required to pick up your transfer.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender's information. Take along your sender's full name, the sending country and their address, if known.

What to watch out for

Sending money to Italy may be subject to taxes on the money transfer, but it depends on a lot of variables.

Bottom line

Sending your hard-earned money to Italy shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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