The real cost of a transfer
A transfer has two costs: the fee you see and the exchange-rate margin you often do not. A bank might advertise a $15 fee and then convert at a rate 3% worse than the mid-market rate, which on $5,000 costs another $150. The fairest comparison is simple: for the same amount sent, how many euros arrive in the Italian account?
Sending from inside the euro area
If you have a euro account anywhere in the SEPA area (the EU plus countries such as the UK, Switzerland and Norway for euro payments), use a SEPA credit transfer to the recipient’s Italian IBAN. Since October 2025, banks in the euro area must offer SEPA Instant transfers, which arrive in seconds, at no more than the price of a regular transfer.
Sending from the US, UK or elsewhere
You have three realistic options:
- A transfer service. Wise, Revolut, Remitly and similar services show the fee and the rate before you pay. They usually beat banks for amounts up to tens of thousands.
- A bank wire (SWIFT). Your bank charges an outgoing fee, often $25 to $50, and may add an exchange margin. Intermediary banks can deduct fees on the way. Choose to send euros, not dollars or pounds.
- A currency broker. For very large amounts, such as buying property, specialist brokers offer forward contracts and lower margins.
Step-by-step guides: from the US to Italy and from the UK to Italy.
Check the details before you send
- Run the recipient’s IBAN through the Italian IBAN checker. It catches most typos.
- Use the name exactly as it appears on the account. Since October 2025, EU banks check the payee name against the IBAN (Verification of Payee) and will warn you if it does not match.
- For wires from outside Europe, take the SWIFT/BIC code from the directory or, better, from the recipient’s statement.
Receiving money in Italy
Italian banks may charge a fee for incoming transfers from outside the SEPA area, and a conversion fee if the money arrives in a currency other than euros. Ask the sender to send euros. Large incoming amounts may prompt your bank to ask where the funds came from, which is a routine anti-money-laundering check.
Frequently asked questions
What details do I need to send money to an Italian bank account?
You need the recipient’s full name as it appears on the account and their 27-character Italian IBAN. Transfers from outside the SEPA area usually also need the bank’s SWIFT/BIC code, and sometimes the bank’s name and address.
How long does a transfer to Italy take?
A SEPA Instant transfer arrives in seconds, and a regular SEPA transfer by the next business day. International wires from the US or UK take one to five business days. Transfer apps often deliver within minutes to a day.
Should I send dollars or euros to Italy?
Send euros. If you send dollars or pounds, the Italian bank converts the money at its own rate and may charge a fee for receiving a foreign-currency transfer. Converting before sending, at a good rate, is almost always cheaper.
Is there a limit on how much money I can send to Italy?
There is no legal limit on bank transfers to Italy, but banks check large or unusual payments under anti-money-laundering rules and may ask where the money came from. Keep records for property purchases and large gifts.
What does SHA, OUR or BEN mean on a wire transfer?
These codes say who pays the fees. SHA splits fees between sender and recipient, OUR means the sender pays all fees, and BEN means the recipient pays all fees. Inside the EU, SHA is standard.
Sources and fact-checking
Checked on 2 November 2026 by Ionut Popea following our editorial policy. Fees, codes and rules change; confirm anything important with the bank or authority before acting.