Sending money home from Italy
Last updated · Information, not legal advice
Quick answer
Money transfers out of Italy are made through banks, licensed money transfer operators or digital providers. The headline fee is rarely the real cost: most of it sits in the exchange-rate margin, so compare the amount that arrives, not the fee. Operators must identify you, and transfers of €5,000 or more in cash carry stricter checks.
For a very large share of people who move to Italy, sending money home is not an occasional errand — it is the point. Italy hosts over five million foreign residents and the remittance corridors out of it are among the busiest in Europe. It is also the single financial decision where people lose the most money without noticing, because the cost is deliberately hard to see.
Where the cost actually is
Almost every provider advertises a transfer fee. That fee is usually the smaller half of what you pay. The larger half is the exchange-rate margin: the difference between the mid-market rate — the real rate, the one you see on a currency converter — and the rate you are given. A transfer advertised as "zero fees" can easily be the most expensive option on the market once the margin is counted.
The only comparison that means anything is: for €500 sent today, how many units of the destination currency land in the recipient's hands? Ask that question and the ranking often inverts.
What the provider must ask you
Money transfer operators in Italy are supervised under EU anti-money-laundering rules and must identify both sender and recipient. Expect to show a valid ID document and your codice fiscale, and to be asked the purpose of the transfer and the source of the funds. This is normal and applies to everyone; being a foreign national is not the reason for it.
Larger or unusually patterned transfers attract additional checks, and a provider may pause a transfer to ask for documentation. Sending regular, consistent amounts through the same provider tends to produce far fewer of these interruptions than sending sporadic large sums through several.
Cash, limits and what gets reported
Italy restricts cash: the general limit on cash payments between private parties is €5,000, and money transfer operators apply tighter identification thresholds on cash transfers. There is no cap on how much you may legally send abroad through the banking system, but transfers are reported and traceable, and you should be able to show where the money came from.
If you are carrying cash across a border rather than transferring it, €10,000 or more must be declared to customs when entering or leaving the EU. Not declaring it risks seizure.
Getting the tax side right
Sending your own already-taxed income to your own family is not a taxable event in Italy. What does matter is that Italian tax residents are taxed on worldwide income and have reporting duties on foreign assets, so if you hold accounts abroad the obligation runs in the other direction. If your situation involves property, a business or significant assets in either country, this is a question for a commercialista, not for a guide.
What you need
- ✓Valid passport, national ID or permesso di soggiorno
- ✓Codice fiscale
- ✓The recipient's full name exactly as on their ID, and their account or collection details
- ✓For larger transfers: evidence of the source of funds (payslip, contract, sale document)
Get this pre-filled for your situation
Approdo builds your personalized checklist and pre-fills the official forms from your details — free to start.
Build my checklistProviders that show the real rate
Listed because they publish the mid-market rate and their margin openly, so you can see the total cost before sending. Always check the amount that actually arrives against an independent comparison for your specific corridor — the cheapest provider for Bangladesh is often not the cheapest for Romania.
- Wise ↗
Shows the mid-market rate and states its fee separately, so the full cost is visible up front. Strong on European and South Asian corridors.
- Revolut ↗
Useful for currency conversion and transfers between its own users. Watch the weekend and out-of-allowance markups, which are where its cost hides.
An independent, government-funded database of what it actually costs to send money on specific corridors, updated quarterly. It covers providers we do not list and has no commercial interest in the answer. Check your corridor here first.
Some links above are affiliate links: if you sign up through one, Approdo may earn a commission at no cost to you. It does not change what we recommend — providers are listed on whether you can complete signup unaided, never on what they pay, and the impartial option is always shown alongside them.
Frequently asked questions
How much does it cost to send money from Italy?+
The advertised fee is usually the smaller part. Most of the cost is the exchange-rate margin — the gap between the mid-market rate and the rate you are offered — so a zero-fee transfer can be the most expensive option available. Compare how much money arrives for a fixed amount sent, not the fee.
Is there a limit on how much money I can send abroad from Italy?+
There is no legal cap on transferring money abroad through the banking system, but transfers are traceable and you should be able to document the source of the funds. Cash is restricted separately: Italy's general limit on cash payments between private parties is €5,000, and carrying €10,000 or more across an EU border must be declared to customs.
What documents do I need to send money from Italy?+
A valid ID document (passport, national ID or permesso di soggiorno) and your codice fiscale. Providers are required under EU anti-money-laundering rules to identify you and may ask the purpose of the transfer and the source of the funds. This applies to everyone, not only to foreign nationals.
Do I pay tax in Italy on money I send to my family abroad?+
Sending your own income, on which tax has already been paid in Italy, to your family is not itself a taxable event. The obligation that does apply is the opposite one: Italian tax residents are taxed on worldwide income and must report foreign assets. If you hold property, a business or significant assets abroad, take that to a commercialista.
Why was my transfer paused or questioned?+
Providers must run anti-money-laundering checks and will pause a transfer to request documentation when the amount or pattern is unusual for your account. It is a compliance step, not an accusation. Regular transfers of consistent amounts through one provider trigger it far less often than sporadic large sums spread across several.
Official sources
More guides
- Codice fiscale: what it is and how to get one
- Permesso di soggiorno: the 8-working-day rule
- Residenza in Italy: registering with your comune
- Tessera sanitaria: joining Italy's health service
- SPID: Italy's digital identity for foreigners
- Nulla osta: family reunification clearance
- Voltura, subentro or allaccio: putting utilities in your name
- Opening a bank account in Italy as a foreigner
- Health insurance for an Italian visa and permesso di soggiorno
- Getting an Italian SIM card as a foreigner
- Decreto Flussi: Italy's work-entry quota, and how it actually works
Approdo provides information, not legal or tax advice. Requirements and figures change; always confirm with the official sources linked above.