How to Send Money To and From Italy and the USA

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I don’t know about you guys, but the topic of how to send money to/from Italy and the US was not something I thought about before I actually moved to Italy the first time. Back then, my mind was focused on stuff like finding actually getting the visa to legally live in Italy or in finding a place to stay. But once I got to Italy boy did I realize how important it was.

But then again, there I was a shinny eyed American who first came to Italy 18 years ago (OMG time flies!), I’ve tried and seen it all (almost). I think it’s fair to say, I’ve become pretty good at knowing the best way to transferring money to and From Italy and the United States.

Whether it was my parents sending me cash, way back in the day or figuring out how to pay bills in the States. Sending money internationally safely, securely, quickly and preferably without costing an arm and a leg is something I realized that I had to figure out and fast.

So, whether you’re planning your dream Italian vacation or you’re getting ready to pack up and move to Italy’s beautiful shores or you’re in Italy but you need to figure out how to send cash for Stacey’s birthday party … At some point in time you’ll likely find yourself wondering ‘what is the best way to transfer money?’

Fortunately, gone are the days of traveler’s cheques and slow wire transfers – or from exchanging wads of cash, thank gosh! But still, knowing which bank to trust with exchanging your money can be scary.

Services I Don’t Use

Let’s start by saying that I don’t use those big brand international companies to transfer money. The ones that we used to use back in the day when the internet and online banking was still new… Do I have to mention names? If you want me to let me know in the comments box below.

• from my experience they tend to have high fixed rates to send the money

• and/or the conversion rates that they offer also tend to be significantly less advantageous compared to the actual international rates (so sneaky!)

I also don’t use the Currency converters at the airport, for the reasons I listed above. However, this option may make sense if you want to have a few bucks in the local currency when you land, which I think is always a good idea. Emergencies happen, and cash is king.

… but even then, it may make more sense to withdraw money from an ATM in the country of destination. But even then, I would recommend you check your local bank to figure out their international transaction fees, currency conversion fees, and out to network with drawl fees, plus some Italian banks will change you for using their ATM (but I digress)

HOW TO SEND MONEY FROM ITALY AND THE USA (or Vice Versa)

AN EXPAT-IN-ITALY’S PERSPECTIVE

Wise (Previously TransferWise)

Hands down the simplest, most affordable, and trustworthy tool I’ve found so far for How to Transfer Money from Italy to the USA (and vice versa) is wise.com (previously known as TransferWise). Their website is easy to use and understand, and it has everything you could want for making international money transfers seamless. With Wise, you can:

• Compare exchange rates easily with their ‘compare’ tool

• Make the transfer using a range of payment options, from direct debit & credit card to bank transfers

• Hold money in various currencies (because sometimes waiting until the exchange rate is more favorable can save you lots of dough. If and when you move abroad I assure you, you will be paying a lot more attention to the USA - Italy exchange rate)

• Be sure there will be no hidden costs

• They have dual authentication to make sure your account stays safe

Making Small or Regular (aka Scheduled) International Transfers to/ from Italy and the USA

If you need to make small or regular international money transfers to and from Italy, Wise is definitely the way to go. And I’ve been talking a lot about sending money to and from the United States At least in my experience, Wise has been very reliable.

And when I reliable I mean on time and super fast. If it’s someone I’ve already sent money to they will literally get their money in a matter of seconds. I’ve called to check! They’ll open up their bank account and literally seconds later it has arrived.

Transferring Large Sums of Money to and from Italy

As always, if you’re transferring large sums of money, it’s worth doing your research. While, Wise can be a great option, I have sometimes found that the fixed-rate with my bank is a better. Or I just have more room to negotiate with a bank who I’ve been with for years! Still, it’s worth comparing your options.

I remember the conversation I had with my dear friend Annette about purchasing her home in Italy and then figuring out ways to pay for the contractor that did her renovations, she opted to use her bank. And well, that makes sense. We are talking about hundreds of thousands of dollars here!

Withdrawing Money in Italy

If you travel often, or you’re even just planning a holiday and don’t want to have to worry about whether you’re getting the best exchange rate, consider Wise’s Multi-Currency Account.

I haven’t used this function as yet, but some of my friends have and they love it. The cool thing about this is that it works all around the world, not just from Italy to the United States or to Italy from the United States. Hey, Hey world traveller!

Asides from giving you access to countless ATMs around the world, this non-traditional bank account:

• Ensures international transfers will be cheaper and easier than a traditional bank

• Allows you to use your card abroad in the same way you would at home

• Converts currencies for FREE

 And I know this isn’t exactly related to transferring money to and from Italy, but it’s also super handy if you just like shopping online! Your Wise account will automatically convert the currency to the cheapest exchange rate for you!

Okay, guys you get it, I’m a super fan. I use this service on the regular.

Is there another way you’d recommend transferring money to and from Italy? Or do you have a crazy travel story about exchanging money? I’d love to hear from you in the comments below!