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Once OFX receives your funds, 80% of all major currency transfers are processed in 24 hours
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How to Send Money to Italy
Gather the relevant banking information including the name on the recipient’s bank account, the SWIFT/BIC code, the ABI/CAB, and the IBAN.
Create a free online account with OFX, or login to get a live quote for your money transfer.
Enter your details and those of your recipient.
Choose ‘finalise transaction’ to process your payment.
It’s easy and affordable to send money to Italy using OFX. Even if you’re not ready to transfer funds today, you can sign up now, so your account is active and ready when a great exchange rate comes up.
When sending money to Italy, keep in mind that different tax regulations may apply to sending large sums of money overseas depending on many factors including:
how the money is going to be used
how much you are sending
the source of the funds
if the money has been taxed elsewhere
For example, supporting family members by paying for living expenses is usually considered different from sending large sums of money abroad as a gift. See our Guide to Sending Money to Family Abroad for more details.
How to send money to Italy at a great exchange rateWhen looking at exchange rates, it’s important to know that the value of the euro may be influenced by interest rates set by the European Central Bank and the Federal Reserve, as the euro trades most actively against the USD. Economic figures from the U.S. and Europe, will also affect the EUR exchange rate. If you want to read up on the factors that influence the value of the euro or other currencies, head over to the Exchange Rates section of our site.
Italy Money Transfers – FAQs
Wondering how to send money to Italy? We've got the smart, secure way to exchange your Canadian dollars for euros. With offices around the world, we provide 24-hour access to our highly skilled transfer team.
How quickly can OFX transfer your money to your bank account in Italy?
Generally speaking, you can expect your funds to arrive overseas in 3 days: 2 days for your Canadian bank to wire us the money and 1 day for OFX to convert your Dollars into Euros and transfer to your Italian bank account for final settlement.
Is there any limit on how much money you can send to Italy?
Absolutely not. In fact the more money you send, the better the exchange rate we can give you. However, in order to give you the best exchange rate we do require a minimum of $1,000 be transferred.
How much does OFX charge to send money to Italian bank accounts?
The most we charge is just $15 for converting Canadian Dollars to Euros. If you send more than $10,000 to Italy, we waive your fees altogether. Our customers’ real savings come from our highly competitive exchange rates. Compare our great exchange rates to your bank and see how hard they are to beat.
Can you send money from your Italian bank account to Canada?
It depends on where your permanent residence is. If you live in Canada, then yes you can send money from Italy to your Canadian bank account. If you live in Italy, you’ll need to need to use our European branch.
How can OFX help me manage CAD/EUR exchange rate movements?
We offer Limit Orders to help our customers lock in a desired exchange rate and Forward Contracts to freeze a current exchange rate for future use. You won't typically realize the full potential of Limit Orders and Forwards until you send upwards of $30,000, the minimum for using our Forwards or Limit Orders.
Which banks in Italy do you transfer money to?
OFX can transfer funds to any bank in Italy, including, but not limited to:
- Intesa Sanpaolo
- Ubi Banca
- Banco Popolare
- B Monte Paschi Siena
- Banca Carige
- Credito Emiliano
Contact us if your bank is not listed and we can see if we can help