11 Sep 2024
Do you know you can quickly use your credit cards to make a money transfer from Italy to Nigeria, within a span of few seconds only? Technological advancements have made managing financial activities easier for expats living in Italy. Italy is a well-developed country with advanced technology in every field. The trend of credit cards is quite common in Italy. Credit cards have reduced the need to hold the cash. You can buy all the services just by swapping the credit card. If you are moving to Italy, you must learn about its norms and trends.
A credit card is a small financial tool that contains money. Banks grant it, and you can keep huge amounts of money on these small cards. Each card includes a unique tracking number. Swapping machines are installed everywhere in Italy, be it restaurants, shopping centres, and working institutes. You can make payments through cards, and only the specified amount of the product you bought will be deducted. According to the report of 2023, nearly 99,630 Nigerians live in Italy. Nigerians must learn how to use credit cards to make their transactions easier:
Credit cards are widely used and accepted in Italy. Nigerian expats can also use credit cards to send money to Nigeria from Italy. You can also connect the credit card number with remittance apps like ACE Money Transfer’s mobile app to make online transactions. Scroll down to learn the types, uses, and benefits of credit cards in Italy:
There are numerous credit card types, each with a unique purpose. The most common types of credit cards used in Italy are:
Master cards own maestro cards and serve the same purpose. These cards are widely used in Italy. You can use them anywhere in local markets or superstores. You can also use the Visa card number to buy global services. It is directly linked to your bank account, and you must consider the limits.
These cards are more expensive than any standard card. They are used to access luxurious services, such as golf clubs and other party clubs. You can also upgrade credit cards and enjoy multiple benefits with them.
It is similar to a credit card. Bancomat is most commonly used in Italy, and you can avail yourself of all its services. You can also withdraw money through ATM using such cards. These cards are best for routine transactions.
Visa cards are best for international travellers because they can be used globally. You can also send money online to Nigeria from Italy using a visa card. They serve the purpose of credit and debit cards. They are also connected to banks, and when you purchase a certain thing, the amount is deducted from your bank. You can borrow funds from banks up to a specific limit using visa cards, but you have to pay back the funds.
American cards have also attracted users' attention. They have a higher service fee, but such cards also come with a lot of benefits. With American Express cards, you have to pay the entire balance of your transactions. They provide many perks while travelling internationally.
You need to deposit your credit card balance each month. You will receive a detailed slip for all of your transactions, and you must repay the money you borrowed from the bank. You can choose to pay the whole or maximum amount. If you repay the total amount, there will be no taxes, but you have to pay taxes on the remaining charges.
Credit Score
For every payment, you are given a score known as your credit score. If you repay the bank on time, you will achieve a good score, but if you make delays, your score will go down. Your credit score can help you get alot of benefits and enjoy bigger loans.
Credit cards are widely used in Italy and other places around the world. They are commonly used in big cities such as Rome and Florence. In contrast, small towns and businesses usually prefer cash or credit card payments. Credit cards are limited to some local places. As a Nigerian, your credit card is one of the cheapest way to send money to Nigeria from Italy.
As a Nigerian, you can also use your Nigerian credit card in Italy, but applying for an Italian card can help you manage all your payments. You need to have an Italian bank account to get a credit card. If you have a credit card, you don’t need to worry about currency exchanges because they will automatically be converted. You must know exchange rates, especially while using credit cards internationally. High currency rates will increase your loan and may make it challenging to pay back.
There are countless benefits of using credit cards for Nigerian expats in Italy. It is one of the best ways to overcome financial challenges when you are lacking cash or running out of balance on your cards:
Nigerians living in Italy must be aware of the use of credit cards. Credit cards can make your life easier, and you can overcome the stress of managing your money. Credit cards allow you to borrow money from a bank up to a specific limit without requesting it. It means that even if there is no cash in your account, you can still swipe your card and buy goods and services for yourself. You can later pay back the money to the bank. Whether you pay the entire money or leave the remaining for the next month is up to you. However, paying your funds on time can help you achieve a good credit score.
Nigerian expats in Italy can enjoy various perks of credit cards. Firstly, you must learn about the types of credit cards available. Although all credit cards are used similarly, their perks may vary. The common types of credit cards used in Italy are Visa, Maestro, Bancomat American Express, and premium credit cards. Maestro and Bancomat are commonly used cards. You can use them globally to access international services. Connecting your credit card with remittance apps makes online money transfer from Italy to Nigeria easier.
Credit cards are commonly used in local markets, shopping malls, restaurants, hospitals, and aesthetic labs everywhere in Italy. Yet, you may face a denial of credit card use in small towns or businesses because they prefer cash. Credit cards are worth using when you have to face financial challenges. It can help you prevent monetary challenges and withstand emergencies. It allows you to buy products even when your account balance is zero. You must repay your borrowed funds on time to build a credit score to help you enjoy future benefits.
Credit cards are convenient to use because of their global acceptance. Credit cards allow you to access national and international services, buy products and services with a low bank balance, and instantly borrow money from the bank to pay your bills.
Visa, Mastercard, American Express, Bancomat, and Maestro are commonly used credit cards. Bancomat and Maestro are used for routine services, whereas Master and Visa cards can be used internationally.
Credit cards help Nigerian expats in Italy by providing financial aid when they run out of money. They also help them resolve financial disputes and borrow funds whenever needed. Moreover, credit cards offer currency conversion and travel benefits.
It is possible to send money through credit cards. Connect your remittance service app with your credit card by entering the unique code and enjoying the meeting.
Yes, with ACE, you can make a credit card remittance transfer. ACE's app supports his credit card opinion, making remittance transactions easier for expats.
Reference Links:
https://integrazionemigranti.gov.it/AnteprimaPDF.aspx?id=6155
