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Bank Account Or Online Money Transfer – Which Is The Fastest Way To Send Money To Italy From Germany?

Bank Account Or Online Money Transfer – Which Is The Fastest Way To Send Money To Italy From Germany?

23 Nov 2022

You've all heard of online money transfer services and bank transfers at some point in your financial lives. With so many options for sending money abroad, many people are unsure of whether they should use a bank or a remittance service provider. For instance, if you want to send money to Italy from Germany or any other country, the availability of numerous options can make you uncertain about the best method for you.

The extensive selection may hamper your choice. One of the first steps to taking full control of your finances is to comprehend the differences between these transactions and the subtleties of each one. This understanding will undoubtedly be helpful to you in the future.

Sending Money to Italy via Bank Account or Online Money Transfer - What’s Best

The right decision must be made, and all the variables that may impact your funds must be considered, including dependability, transfer fees, transfer times, and, most importantly, exchange rates. Banks are typically the first thing that comes to mind regarding your personal finances and sending money abroad.

However, the truth is that bank accounts might not be the best option. Let's know the best option among bank accounts and online money transfers to send money to Italy.

Sending Money To Italy Via Banks Is Generally More Expensive

You are not recommended to use your local German bank for your next EUR-to-EUR international funds transfer. This is because banks are notorious for providing poor exchange rates while charging exorbitant foreign exchange fees. This is a double whammy that will significantly increase the cost of the transaction for you.

The exchange rates that banks typically provide are lower. Banks typically charge higher per-transaction wire transfer fees. For instance, a trustworthy American bank typically charges around €40 for an outgoing international wire transfer.

Even though some banks might waive their wire fees for international transfers, keep an eye out for additional fees that may not be immediately obvious. Don't forget to factor in the fees imposed by the receiving bank in Italy when calculating the total cost, which will also be included in the calculation. Many issues come when you send money to Italy online.

Banks Mostly Require Much More Information And An Account For Money Transfer To Italy

Some banks do not provide online wire transfer services; in these cases, you might need to go to a nearby branch. Every time you send money, the bank may ask for more details, and you'll likely need to complete a lengthy wire transfer form. They may request your ID card as additional identification verification.

To use a bank's wire transfer services, you frequently need to be an existing customer. The wire transfer may not be started if you do not already have an account with them; in that case, you might need to create one.

Sending Money To Italy From Germany Via Bank Transfer May Take Longer

The recipient may not receive bank wire transfers right away. Money transfers can be completed quickly by online service providers like ACE Money Transfer. It can set up cash pickups in a matter of minutes. The only option available to you when sending money to Italy through your bank is typically to send it to another bank.

Money transfers can be managed online by service providers, allowing the recipient to pick up cash at a branch office of an agent in the recipient nation.

Online Money Transfer To Italy Is The Fastest Option 

Before the modern internet era, traditional methods of sending money from Germany to Italy included banks and small, local remittance players located in retail outlets and convenience stores. Unfortunately, all of these options have high fees and frequently offer low exchange rates, resulting in an expensive money transfer in which a large portion of your hard-earned money does not reach your recipient. So, the best option is to use online money transfers.

Online transfers are the best option for making a money transfer to Italy because they are quick and simple, and there are many other great options. Several businesses provide speed, cost, and ease of use. When sending money from Germany to Italy, one of the most crucial aspects of the service offered by various money transfer services that you should consider is speed.

Best Method To Send Money to Itlay From Germany

ACE Money Transfer's quick service is the most efficient and cost-effective way to send money to Italy. Make sure to utilise their quick service to ensure that your money reaches its Italian destination within a short amount of time.

This method of sending EUR to EUR is the quickest and most affordable. The recipient of these transfers should typically receive them within 24 hours. Still, it's important to remember that delivery times can vary depending on the day, the time of day, the recipient's office, and holidays. All clients are advised to carefully read the terms and conditions before making a transaction.

It is also the simplest method for sending money to Italy. The three-step process for sending money with ACE is straightforward, safe, and convenient. You first enter the amount of money you wish to send. You then tap the final destination. The money is then sent to Italy after you have completed the transaction and paid for it. It takes one or two days to finish the transfer.

Online money transfer is the most convenient way to send money to Italy. ACE is a low-cost and simple method of sending money online. ACE typically has a one to two-day wait time. When it comes to transferring money to Italy, choose ACE's online money transfer app over a bank account.

Bottom Line

You can send money to Italy in many ways, including bank, wire, and international money transfer services. Each choice has its own set of advantages and disadvantages. However, online money transfer to Italy is a method that many experts recommend.


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