29 Nov 2024
With Italy’s economy growing, its need for foreign talent is growing simultaneously. Consequently, more foreign workers from all over the world are flocking to Italy in search of a healthy livelihood. A recent study discovered that one in every four jobs in Italy requires non-Italian citizens. Not only do these foreigners live a good life in Italy, but they also send money regularly back to their home country.
The Italian Ministry of Labor has pointed out that the tourism industry in Italy makes up for about 20% of the total jobs offered to foreigners. International workers are needed in the attractions and hospitality sector, as well as in service industry jobs such as call centers and cleaning. This surge in demand for foreign labor comes from labor shortages across 37 occupations, as reported in the 2023 EURES report.
So once an immigrant finds a job in Italy, how can they send money back to their families to support them financially? Below are some of the best ways to money transfer from Italy to any other country:
To send remittances, you are better off choosing a formalized and authorized channel rather than a suspicious one that could risk financial loss or fraud. Here’s what you must consider when you look for a money transfer service provider:
Two things to consider: the upfront transfer fees charged by the service provider and the exchange rates offered by the provider. You’ll find that some providers offer lower upfront fees but poorer exchange rates, while others offer competitive exchange rates but higher upfront fees. Here, you’ll have to prioritize one over the other.
Remember that an alarming exchange rate can quickly consume the money you send. So try looking for a provider with the best and most reliable exchange rates. Additionally, consider the speed of the transfer. Some providers offer faster transfer times, which can be crucial if you need to send money urgently. Finally, check the provider’s reputation and customer reviews. A reputable provider with positive reviews will likely offer a reliable and secure service.
Nowadays, more and more immigrants prefer online money transfers. Online money transfer is more convenient, reliable, and quick. You don’t need to take time off work and commute to a bank just to send money back home. With a few clicks, you can make a transaction easily.
Highly trusted services like ACE Money Transfer prioritize the ease of their clients with their up-to-the-mark mobile application that allows speedy online money transfer wherever and whenever you wish.
Moreover, online money transfer services often offer competitive exchange rates, ensuring your money goes further.
How and when you send money are very important questions to consider. A good strategy for money transfer is critical and could save you a lot of money.
You should know that when the Euro is stronger than the local currency of your home country, it will increase the value of the remittances you send. So it’s always wise to look out for those times. Monitor the exchange rates and send money during those peak times. This can be done through currency alert tools or keeping up with the financial news.
Additionally, consider using a money transfer service that offers flexible exchange rate options, such as the ability to lock in a rate or set up rate alerts.
Some money transfer providers have a scheduling feature where you can set up regular transfers. This works best for people who send remittances regularly because they don’t have to go through the same process every time. Scheduled transfers might also include reduced fees and more competitive exchange rates, reducing overall transfer costs. It will also be a great relief in terms of your budgeting.
This feature can be handy for individuals who send money to support family members or pay bills overseas.
Sending remittances from Italy to anywhere worldwide is easier than ever with the advent of convenient online global money transfer service providers. ACE Money Transfer offers safe and speedy transactions and regularly offers various discounts and promotions to help facilitate their customers. Download the ACE mobile application now to enjoy your first completely cost-free online money transfer!
Online money transfer services like ACE Money Transfer offer competitive exchange rates and lower fees than traditional banks, making them ideal for remittances.
Monitor exchange rates online or set up alerts with tools like XE or Google Finance to send money when the Euro (EUR) is strong against your recipient’s currency.
Some services may charge extra fees or offer lower exchange rates. Always read the terms carefully to understand any hidden costs that could impact your transfer.
Yes, many providers offer scheduled transfer options, which are helpful for consistent monthly remittances and can help reduce fees or maintain better rates.
Reputable providers use secure systems and two-factor authentication to protect your information. Always choose licensed and regulated platforms to ensure the safety of your funds.
