A competitive EUR/CAD exchange rate is essential when sending money to Italy. Bank beating rates enable businesses to make the most of global opportunities.
Italy exports billions of dollars worth of products and services to Canada each year. This could be one of the reasons you need to send money to Italy. Besides making payments to Italian vendors, you might need to send money to Italy for investment purposes or other reasons.
For many businesses, it’s been the case that each time they approach the bank for an international money transfer, they get charged a terrible currency conversion rate, sky-high transfer fees, and additional bank fees. However, there’s a way to access the best exchange rates and cheap transfer fees by using a specialist foreign exchange service.
How to send money to Italy
When sending euros to an Italian bank account, it’s always best to compare your options first. At first glance, the obvious choice would be to arrange the transfer via your usual bank or a high street transfer service. However, this comes with high transfer fees and steep exchange rate markups.
The smarter alternative is sending money to Italy using a specialist foreign exchange service like MFTX. With MFTX, you get more euros because the exchange rate is 3-5% lower. That means you can save hundreds or thousands of dollars with each transaction. More specifically, if you’re saving 5 cents on every dollar, that’s 1,500 Canadian dollars you don’t have to pay for every transfer of 30,000 euros.
There’s no catch because you also don’t have to pay high transfer fees. MFTX exchange rates and fees are transparent and fair. The platform deals with high volumes of currency exchanges, so it’s a simple matter of passing on the savings through competitive exchange rates.
All you have to do is register for your MTFX Business Account to send money to Italy. You can then transfer funds online through the 24/7 platform. Automated payments, expert guidance, and the best exchange rates mean you can transact quickly, efficiently, and cost-effectively.
Looking to transfer Money to Italy?
What is the current EURO/CAD exchange rate?
Exchange rates like to swing up and down, and the EURO/CAD exchange rate is no different. Want to find out the current EURO/CAD exchange rate just before you send money? The MTFX Live Currency Rate Calculator is a nifty tool that gives you real-time EURO/CAD exchange rates before you transfer money to Italy.
What do I need to send money to Italy?
You’ll need to provide the following information when sending money to Italy from Canada:
Beneficiary account number (IBAN number)
Bank Swift code
Reason for transfer
How long does it take to transfer money to Italy with MFTX?
MFTX has a fast turnaround with same-day or next-day transfers (24-48 hours). In addition, you can make and track payments anywhere, anytime, through your secure online account.
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.
Send money to Italy today
Having an MFTX business account makes life simpler when sending money internationally. Your vendors or beneficiaries can receive funds in one or two days. Also, the MTFX platform is secure, and you have foreign exchange specialists to answer your questions, so you can confidently transfer funds.
Register with MFTX today, and access the best exchange rates when sending Euros. Simplify how you send money to Italy with a full-service exchange platform designed to meet your business needs.
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Who can use the MTFX payment service?
Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into.
Personal clients usually use our services to transfer money between their own accounts in two different countries.
Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
Why should I use MTFX and not my own bank?
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands.
We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world.
Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
How do customers send funds to MTFX?
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
How long does it take MTFX to transfer funds?
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.
Please read the following update before logging in to your MTFX online account
We have updated our online dealing system to provide you with better functionality, more unique tools and an overall enhanced client experience. MTFX Online 2.0 is now available for your dealing needs. You can begin using our enhanced online portal today.
Please note that the traditional portal will be available for use until MAY 30th 2021 at which point it will be decommissioned.