How to Send Money to Italy from Canada?

Sending money to Italy from Canada shouldn’t feel like steering through a maze of hidden fees and poor exchange rates. Unfortunately, for many Canadians, that’s exactly what traditional banks and outdated transfer methods deliver. As international ties deepen, whether through family, property ownership, or business, so does the need for smarter, faster cross-border payments. If you're looking for how to send money to Italy from Canada, the good news is: better options than your bank exist.

This guide breaks down the real cost of a money transfer to Italy, shows you the top money transfer services from Canada to Italy, and reveals the easiest way to transfer money to Italy without the typical headaches. If you’re tired of overpaying or waiting too long, here’s how to transfer money from Canada to Italy with confidence.

Why Canadians may need to send money to Italy?

The volume of money transfers to Italy has surged in recent years, driven by deeper global connections and the increasing mobility of Canadians. From growing real estate interest in regions like Tuscany and Umbria to cross-border family support, the reasons behind sending money to Italy from Canada are more varied and urgent than ever.

Supporting loved ones or retirees in Italy

Canada has a large Italian diaspora, and many still maintain close family ties across the Atlantic. Monthly living support, pension top-ups, and even one-time gifts often require regular money transfers to Italy. In these cases, minimizing fees and ensuring funds arrive quickly becomes a top priority.

Paying for property or renovations

The dream of owning a villa or apartment in Italy is now a reality for many Canadians, but dealing with international payments for deposits, notary fees, and construction costs can get expensive fast. Knowing how to send money from Canada to Italy to pay for property without incurring inflated exchange rates can save thousands over the lifetime of a property investment.

Covering tuition and living costs for students

Italy is an increasingly attractive destination for Canadian students, thanks to its world-renowned universities and lower tuition fees. But once accepted, families often scramble to find the easiest way to transfer money to Italy to cover housing deposits, tuition, and day-to-day expenses. Delays or FX losses here can be more than frustrating; they can be costly.

What is the best way to send money to Italy?

For many Canadians, the first instinct when making a money transfer to Italy is to rely on their local bank. But banks often apply poor CAD to EUR exchange rates, charge wire transfer fees that add up quickly, and take days, sometimes even a full business week, to complete the transaction.

If you’re serious about saving time and money, it’s worth exploring modern alternatives that offer top money transfer services from Canada to Italy, especially those tailored for international payments.

Why is MTFX the easiest way to transfer money to Italy?

Unlike traditional banks, MTFX is a foreign exchange specialist built specifically for cross-border payments. That means more competitive rates, fewer fees, and faster delivery. Whether you need to send money to Italy for a real estate transaction, family support, or education expenses, MTFX offers real-time exchange rates, transparent pricing, and same-day transfer capabilities in many cases.

What do you need to send money to Italy from Canada?

Before you can send money to Italy from Canada, it’s important to understand the basic requirements. Whether you're transferring funds for a property deal, tuition payment, or simply helping family, having the right information and documents in place ensures your money transfer to Italy goes smoothly. To get started, you’ll need:

A valid government-issued ID: A Canadian passport or driver’s license will typically suffice for identity verification.

Recipient bank details in Italy: This includes the full name on the account, the IBAN (International Bank Account Number), and the SWIFT/BIC code of the recipient’s bank.

Reason for the transfer: Depending on the size and frequency of your transfers, you may be asked to indicate the purpose, especially when sending large amounts for property or legal purposes.

For regular transfers from Canada to Italy, it's helpful to create a secure profile with your chosen provider. With MTFX, you can upload your documents once and access faster, pre-verified transfers moving forward.

Do you need a codice fiscale or Italian residency?

Not always, but if you're transferring money for property purchases or legal transactions, some institutions in Italy may request a codice fiscale (Italian tax identification number). While this isn't required to complete the transfer itself, it's something to be aware of if the funds are going toward buying real estate or paying an Italian notary.

How to get the best CAD to EUR exchange rate?

One of the most overlooked aspects of an international transfer is the foreign exchange rate, and it can make a big difference. If you plan to send money to Italy from Canada, even a small difference in the CAD to EUR exchange rate can translate into hundreds or thousands of euros lost or gained, depending on the amount you’re sending.

When you transfer money to Italy through your bank, you're likely receiving a marked-up rate that favours the bank, not you. This “spread” between the mid-market rate and the rate you’re offered is where traditional banks make their profit, and it’s often hidden from view. By contrast, MTFX offers near-mid-market rates with full transparency, helping you send money from Canada to Italy at rates that are consistently better than the big banks.

If you're looking for the easiest way to transfer money to Italy without overpaying on currency conversion, keep these best practices in mind:

Monitor exchange rates daily

Currency markets fluctuate constantly. By checking the CAD to EUR rate every day, you’ll gain a sense of what’s typical and when it makes sense to transfer. MTFX’s Live Exchange Rate tool offers real-time updates that help you avoid transferring at a low point.

Set rate alerts to act fast

Don’t have time to track rates every day? Use CAD to EUR rate alerts to stay ahead. MTFX lets you set custom alerts that notify you when the CAD to EUR exchange rate reaches your desired threshold, making it easier to send money from Canada to Italy at the right time.

Lock in today’s rate

Suppose you’re planning a large or future-dated transfer, such as paying for an Italian property or upcoming tuition fees. In that case, you can lock in today’s favourable rate. This protects your money transfer to Italy from adverse rate movements and gives you budgeting certainty.

Avoid weekend or after-hours transfers

Exchange rate spreads often widen during weekends or outside of market hours, when liquidity is lower. If you want to get the best possible rate, make your transfer Monday to Friday during standard FX trading hours. This simple timing tip can add extra euros to your recipient’s account.

Compare providers, don’t default to your bank

Banks rarely offer competitive rates, even if they’re convenient. Specialist FX providers like MTFX consistently offer better exchange rates and lower fees, making them the top money transfer service from Canada to Italy. Use the MTFX Rate Calculator
to see the difference.

What bank details are needed to transfer money to Italy?

Before you send money to Italy from Canada, you’ll need to gather specific banking information about the recipient. Incomplete or incorrect details can delay your transfer, or worse, result in failed transactions or returned funds. Here’s what you need to complete a smooth money transfer to Italy:

1. Recipient’s full name: Make sure the name matches exactly what's listed on the recipient’s bank account. Typos or abbreviated names may cause issues with the receiving bank in Italy.

2. IBAN (International Bank Account Number): This is the most important detail for sending money to Italy from Canada. Italian bank accounts use an IBAN, which includes the country code (IT), bank code, branch code, account number, and a checksum digit. It's typically 27 characters long.

3. SWIFT/BIC code: Also known as the Bank Identifier Code, this identifies the recipient’s bank internationally. It ensures your money transfer to Italy reaches the correct institution. Example: BNLIITRRXXX (for BNL – Banca Nazionale del Lavoro)

4. Recipient’s address (optional but recommended): Some financial institutions require the recipient’s full address as part of anti-money laundering (AML) compliance. This is especially common for larger transfers or first-time recipients.

5. Reason for the transfer: When you send money from Canada to Italy, you may be asked to specify the purpose, such as personal support, real estate payment, tuition, or investment. This helps comply with Canadian and EU regulatory standards.

Can I set up regular payments to Italy?

With a registered MFTX Account, you can set up regular payments to Italy, save thousands annually, and boost your savings 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?

If you're searching for a fast, affordable way to send money to Italy from Canada, MTFX offers a seamless online platform built for international transfers. From currency conversion to delivery tracking, every step is designed for efficiency and transparency. Here’s how it works:

• Create a free account: Sign up at MTFXGroup.com with a few personal details. Verification is quick and secure.
• Enter recipient details: Input the recipient’s full name, IBAN (Italian account number), and SWIFT/BIC code. This ensures your money transfer to Italy is properly routed.
• Choose the amount to send: Enter the amount of CAD you want to convert to EUR. MTFX shows the live rate and the exact amount the recipient will receive.
• Confirm and lock in your rate: Convert your CAD to EUR at the moment of transfer to protect against market fluctuations.
• Fund the transfer: Send money from your Canadian bank account to MTFX via direct debit or wire. Once received, MTFX handles the rest.
• Track your transfer: Get real-time updates by email or SMS, and monitor progress through your MTFX account dashboard.

Is it safe to send money to Italy with MTFX?

When transferring money internationally, security is just as important as speed or cost. With MTFX, you can send money to Italy from Canada confidently, knowing your funds and personal information are protected every step of the way. Here’s how MTFX ensures safe and compliant money transfers to Italy:

Registered and regulated in Canada: MTFX is a FINTRAC-registered foreign exchange dealer, which means it operates under Canada’s strict anti-money laundering (AML) and financial compliance laws. Every transaction is monitored to ensure regulatory safety and transparency.

Bank-grade encryption for all transfers: All data sent through MTFX’s platform is secured using advanced encryption protocols, the same level of protection used by major financial institutions. Whether you're initiating a transfer or uploading identification documents, your information stays secure.

Compliant with EU banking standards: When you send money from Canada to Italy, your funds move through regulated financial networks that meet European Union standards for security, transaction monitoring, and identity verification.

Real-time transfer tracking: MTFX gives you full visibility into the status of your transfer, with email and SMS notifications from the moment your payment is initiated to the moment it's delivered to the recipient’s Italian bank account.

Dedicated customer support: Questions or concerns? MTFX offers direct access to support agents who understand international payments and can help resolve issues quickly, something few banks or app-based providers can match.
 

Send money to Italy today

Whether you're funding a family member's monthly expenses, paying for a property in Florence, or covering tuition at an Italian university, the way you send money to Italy from Canada can have a big impact on both cost and peace of mind. Banks may seem like the obvious route, but they often come with high fees, poor exchange rates, and long processing times. MTFX offers a better way forward, with transparent pricing, live CAD to EUR exchange rates, and fast, secure delivery to any bank in Italy.

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. What is the best way to send money to Italy from Canada?

The best way is through a regulated foreign exchange provider like MTFX, which offers better CAD to EUR exchange rates, lower fees, and faster delivery than traditional banks.

2. How do I transfer money to an Italian bank account?

You’ll need the recipient’s full name, IBAN, SWIFT/BIC code, and in some cases their address. Services like MTFX guide you through this step-by-step.

3. Is it safe to send money to Italy online?

Yes, when using a regulated provider like MTFX. It’s FINTRAC-registered and uses encrypted technology and real-time tracking to secure every transaction.

4. What are the fees for sending money from Canada to Italy?

MTFX offers low or no fees on international transfers, unlike banks that often charge $15–$50 per transaction plus hidden currency markups.

5. How long does it take to send money to Italy from Canada?

MTFX can deliver funds within 24–48 hours, depending on the funding method and the recipient’s bank. This is faster than most Canadian banks.

6. What exchange rate will I get for CAD to EUR?

Exchange rates fluctuate daily. MTFX offers live CAD to EUR rates that are closer to mid-market compared to typical bank rates.

7. Can I send money to Italy from my Canadian bank account?

Yes. You can fund your MTFX transfer directly from your Canadian bank account and send euros to any Italian bank account.

8. What’s the easiest way to transfer money to Italy?

The easiest way is to use MTFX’s online platform. It’s quick to register, supports repeat transfers, and lets you schedule payments in advance.

9. Are there limits on how much I can send to Italy?

MTFX allows for both small personal remittances and large transactions such as real estate payments or tuition fees. Limits depend on the verification level.

10. What’s the difference between MTFX and a bank when sending money to Italy?

MTFX offers better FX rates, lower fees, and faster service, plus FX tools like rate alerts and forward contracts not available through banks.