How to Send Money to Italy from Canada?

Enhancing the competitiveness of the EUR/CAD exchange rate is paramount when transferring funds to Italy. Opting for bank-beating rates empowers businesses to seize global prospects and maximize their financial potential.

Italy annually exports billions of dollars worth of products and services to Canada, which could prompt your need to send money to Italy. Apart from payments to Italian vendors, you might also require transfers for investment endeavours or various other reasons.

Traditionally, businesses encounter terrible currency conversion rates, hefty transfer fees, and additional bank charges each time they approach a bank for international money transfers. Fortunately, there's a solution to access superior exchange rates and cost-effective transfer fees: leveraging a specialist foreign exchange service.

What is the best way to send money to Italy?

When sending euros to an Italian bank account, it is always best to compare your options. At first glance, the obvious choice would be to arrange the transfer via your usual bank. However, this comes with high transfer fees and steep exchange rate markups.

Opting for a specialist foreign exchange service such as MFTX presents a smarter alternative for sending money to Italy. With MFTX, you receive more euros due to exchange rates that are 3-5% lower than traditional options. This translates to significant savings, potentially totalling hundreds or even thousands of dollars per transaction. In perspective, saving 5 cents on every dollar equates to sparing 1,500 Canadian dollars on a transfer of 30,000 euros. 

What is a good EUR/CAD exchange rate for sending money?

Exchange rates are notorious for fluctuations, and the EUR/CAD exchange rate is no exception. When engaging in global business, understanding where to exchange currency becomes paramount. 

Opting for a bank transfer often entails steep transfer fees. Conversely, MTFX offers transparent and equitable exchange rates and fees. Leveraging its substantial currency exchange volumes, MTFX effortlessly passes on savings through competitive rates.

Register for your MTFX Business Account to initiate money transfers to Italy. The 24/7 online platform makes it convenient to transfer funds smoothly. Automated payments, expert guidance, and optimal exchange rates ensure swift, efficient, and cost-effective transactions. 

Who can use MTFX to send money to Italy?

Both companies and individuals can use MTFX to transfer money to Italy.

Why do individuals send money to Italy from Canada?

Individuals typically send money to Italy from Canada for the following reasons;

- Making purchases in Italy. 
- Buying homes or businesses. 
- Investing in Italy. 
- Relocating to Italy.

Why do companies send money to Italy from Canada?

Companies typically send money to Italy from Canada for the following reasons;

- Making supplier payments in Italy. 
- Purchasing goods and services in Italy. 
- Settling financial transactions in Italy. 
- Investing in Italy.

What bank details are needed to transfer money to Italy?

You’ll need to provide the following information when sending money to Italy from Canada;

- Beneficiary's name 
- Beneficiary's address 
- Beneficiary's account number 
- Bank's name 
- Bank's Swift code 
- Bank's address 
- Reason(s) for transfer

Can I set up regular payments to Italy?

With a registered MFTX Business Account, you can set up regular payments to Italy, save thousands annually, and boost your business profits in one go. The MFTX platform has 24/7 online access, and you can use tools like the live currency rate calculator and currency history charts to make informed decisions. 

How to send money to Italy from Canada with MTFX?

The most optimal way to send money to Italy is by choosing the quickest method with the lowest transaction charges. To send money to Italy from Canada with MTFX, follow the simple steps below;

• Feel free to navigate our website to initiate the process.
• Provide the necessary information to complete the registration.
• Specify the amount you plan to send and review the applicable fees and exchange rates.
• Once done, entrust MTFX with the task; we will handle the rest on your behalf. 
   

Send money to Italy today

Owning an MFTX business account simplifies international money transfers, ensuring your vendors or beneficiaries receive funds within one or two days. 

Register with MFTX today to get the most competitive exchange rates for sending Euros. Streamline your money transfers to Italy with our comprehensive exchange platform tailored to fulfill your business requirements.

FAQs

1. How can I send money from Canada to Italy?

Sending money from Canada to Italy has become more convenient in recent years. Traditional bank transfers often charge high fees for international transactions. Consider using services like MTFX, which provides competitive exchange rates and lower fees than banks.

2. How long will transferring money from Canada to Italy take?

It depends on the method you choose to send funds. However, sending money with a service like MTFX typically takes 1-2 business days for the funds to arrive in the recipient's account.

3. How much does it cost to transfer money to Italy?

With MTFX, you can send money abroad for as little as $15 in transfer fees. Plus, transactions over $10,000 incur no additional fees, making MTFX significantly more affordable than banks, which may charge up to $50 for the same service.

4. Is it safe to send money to Italy from Canada online?

MTFX is officially registered and regulated by FINTRAC, guaranteeing the highest levels of safety and security.