Sending money to an Italian bank account couldn’t be easier with Regency FX. Tell us where you need it sending, provide the necessary identifications and we will send your money to Italy. With no fuss or fees for our services.
Because we are an independent international currency specialist, we have access to the best currency exchange transfer rates.
We deal with all the main financial institutions so we can send money to Italy easily. Regency FX takes the time to get to know our clients and develop relationships with them. In this way, we can guarantee a first class experience every time you send money to a bank account in Italy.
Regency FX has access to all 180 UN recognised currencies, meaning we can ensure you have the best possible rate on the market when you execute your currency exchange transfer and send money to Italy.
There are two main options when sending money from Italy to the UK which are: using a bank or using a money transfer specialist.
Some people see safety and convenience with using the bank as the money is already in there however, banks tend to have uncompetitive rates and additional charges.
The banks are better with smaller, irregular payments.
Money transfer specialists generally have lowest costs and more competitive rates.
They specialise in larger transfers over €5,000.
Banks usually have their own daily limits on how much you can transfer.
They are normally in the region of €50,000 to €100,000.
However, Italy itself does not have any daily limits.
Banca Intesa (a big bank in Italy) have a daily limit of €50,000.
Most of the banks have similar limits.
Daily limits are terrible when you need to transfer large amounts of money.
When looking at sending large amounts of money then your best bet is using a money transfer specialist as they do not have daily limits.
There are two main charges with transferring money internationally these are:
Most people are aware of the transfer fees but not so many people are aware of the exchange rate costs!
Transfer fees are a standard fee that is charged per international transfer.
It is more common for banks to charge these fees rather than money transfer companies.
It is not always easy to find these fees. The large Italian banks do not make it simple to find them.
Italian bank’s transfer fees tend to be €15 to €30 for each transfer.
Another fee in addition to this one is a priority fee which is when you want your money to go to the destination faster.
The easiest way to avoid fees is by transferring money through a money transfer specialist.
Exchange rates are not standard like transfer fees.
Money transfer companies and banks set their own rates.
It is known that banks do not offer competitive rates.
The main banks in Italy such as UniCredit and Banca Intesa have exchange rate margins of 3.5% to 4.1%.
An example of this in the real-world is with a €100,000 transfer you could be paying €3,500 to €4,100 just in exchange rate costs, now that is a lot of money!
This is simply due to the fact that you are not the bank’s priority as their priority lies more with mortgages and savings accounts.
Money transfer companies have a lot less overheads than the bank so the savings they make can go directly to customers, offering them a much better rate.
For an accurate comparison be sure to compare at the same time.
As the rates are constantly changing.
Regency FX are a UK based independent currency broker, specialising in high volume transfers.
We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.
All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.
The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer.
They can often refer to the rates that banks exchange at rather than what is available to you, the customer.
Even if you are just looking for property at this stage it is worth getting in touch to discuss your options.
We can monitor the market on your behalf enabling you to budget more effectively.
As a first-class currency transfer service, here at Regency FX we endeavour to get the best available rate regardless of how much you are transacting.
Get a quote and see how we stack up.
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Payment services for Regency FX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.