Send money from Italy to India: complete guide
Everything you need to transfer money from Italy to India securely, faster, and at the best exchange rates. Compare banks, money transfer apps, and business payment platforms on cost, speed, and compliance.
Best ways to send money to India: bank, app, wire & cash
There are five main ways to send money from Italy to India: online transfers, mobile transfer apps, bank wires, cash pickup, and FX brokers. Online transfers and apps carry the lowest cost at 0 to 0.5 percent FX markup, while bank wires are the most expensive at 3 to 4 percent plus fees.
Bank WireSWIFT Transfer | Online TransferXflow, Wise, Remitly | Debit / Credit Card | Cash PickupWestern Union, MoneyGram | OtherFX broker, crypto | |
|---|---|---|---|---|---|
| Speed | 3–5 business days | Minutes – 24h | 1–2 days | Same day | Varies |
| Typical fees | €20 – €40 | Free – €3 | €0 – €5 | €5 – €15 | Varies |
| FX markup | 3 – 4% | 0 – 0.5% | 0.5 – 1.5% | 2 – 3% | Varies |
| KYC required | Yes | Yes | Yes | Partial | Varies |
| Best for | Large amounts | Recommended | Smaller amounts | Unbanked recipients | High complexity |
How much does it cost to send money from Italy to India?
Sending money from Italy to India costs the visible transfer fee plus the FX markup, and the markup is usually the bigger cost. Compare the total INR delivered across providers, not just the advertised fee, before you send.
Xflow vs Wise vs Remitly vs banks: sending money from Italy to India
Here is how the most popular ways to send money from Italy to India compare on rate, speed, fees, and limits. Xflow transfers at the mid-market rate with 0 percent markup, a low flat fee, and no transfer limit, while bank wires apply a 3 to 4 percent margin plus higher fees.
Xflow | Wise | Remitly | Western Union | Bank Wire | |
|---|---|---|---|---|---|
| Exchange rate | Mid-market (0%) | Mid-market + 0.4% | Margin varies | 2–5% margin | 3–4% margin |
| Transfer fee | €0 | ~€3–5 | €0–€3.99 | €5–€20 | €20–€40 |
| Speed | Minutes–1 day | Same day–2 days | Minutes–3 days | Minutes–3 days | 3–5 days |
| Transfer limit | No limit | €1M+ (verified) | €10,000/day | €50,000 | No limit |
| UPI delivery |  |  | | | |
| Cash pickup | | | | | |
| Business transfers | Native | Yes | Personal only | Limited | Yes |
Why frequent senders prefer Xflow
Built for the Italy–India corridor. More INR, less friction, every time.
| Corridor Advantage | Xflow Benefit | Why It Matters |
|---|---|---|
| Lower FX margin | Mid-market rate | More INR on every transfer |
| No hidden fees | Transparent pricing | No surprises at checkout |
| Fast settlement | 1-day settlement | Recipient gets funds sooner |
| 100% compliance | RBI-regulated rails | Valid FIRA documentation every time |
| Direct EUR to INR | No USD intermediary step | Avoid double conversion costs |
| Business & freelancer friendly | Built for service export payments | Handles FIRA, purpose codes, INR settlement |
| EUR Balance Account | Hold EUR before converting | Convert when the rate is right, not when the transfer arrives |
| Dashboard | Multi-transaction overview | FX history — manage volumes at scale without manual reconciliation |
How to send money from Italy to India with Xflow
Xflow gives your business a dedicated receiving account, so your Italian clients pay you by local transfer or wire, and you receive INR in your Indian bank account at the mid-market rate, usually within one business day, with a FIRA for every transaction.
01 | Create your account & complete KYC
Create your Xflow account and complete KYC (PAN, GSTIN, business proof).
02 | Get your EUR receiving details
Get your dedicated EUR receiving account details from Xflow — share these with your Italian client or payer.
03 | Your client sends the transfer
Your Italian client initiates a SEPA credit transfer or SWIFT wire to your Xflow EUR account.
04 | Xflow converts to INR
Xflow converts at the mid-market rate and credits INR to your linked Indian bank account.
05 | Download your FIRA
Download your FIRA instantly from the Xflow dashboard for each transaction.
How much money is sent from Italy to India?
Italy is a source of inward payments to India, much of it driven by business and professional transfers. India received a record 129 billion dollars in remittances in 2024, reflecting deep commercial ties — and remittances from Italy to India alone reached €594 million in 2025, with India ranking second among Italy's outward remittance destinations.
Vendor & Contractor Payments
Italian companies paying Indian IT agencies, manufacturers, and service providers. High volumes, recurring transfers, compliance-heavy.
Freelancer & Remote Team Payroll
Paying Indian developers, designers, and consultants. Speed and documentation matter — delayed payments affect operations.
Subsidiary & Intercompany Transfers
Italian multinationals (TCS, Mahindra, Aditya Birla all operate in Italy) funding Indian entities, managing working capital, or repatriating profits. Regulatory accuracy is non-negotiable.
What to check before sending money from Italy to India
Five factors decide how much INR actually reaches your recipient: exchange rate markup, transfer fees, processing time, tax and reporting rules, and sending limits. Compare the exchange rate offered, not just the advertised fee, since the FX markup is usually the bigger cost.
- 01Exchange rate markups Italian banks add 2–4% over mid-market whereas most fintechs add 0.5–1%. This is where most of the cost hides.
- 02Transfer fees Usually range between €0 to €40+ per transfer. Always evaluate fee + FX spread together.
- 03Processing time Italian bank SWIFT wires take 3–5 business days; fintech platforms are typically 1–2 days or faster.
- 04Double conversion risk Some Italian banks convert EUR to USD first, then to INR — adding a second conversion spread. Use platforms that convert EUR directly to INR.
- 05TCS rules for Indian receivers TCS applies to outward LRS remittances from India — not to inward transfers from Italy. Recipients in India are not subject to TCS on funds received.
- 06Limits & KYC No legal cap on sending from Italy to India. EU AML regulations require identity verification above €1,000. KYC (ID + address proof) required on all regulated platforms.
- 07SEPA vs SWIFT SEPA works within Europe; Indian banks do not accept SEPA directly. Transfers to India route via SWIFT. Fintechs with multi-currency accounts can accept SEPA from Italian senders and forward via their own rails.
- 08Bank fees vs fintech fees Italian banks charge high FX spreads + flat SWIFT fees + correspondent bank deductions. Fintechs offer lower spreads, transparent fees, and more INR delivered overall.
When is the best time to send money from Italy to India?
The best time to send money from Italy to India is when the rupee is relatively weak, so your recipient gets more rupees per unit. Send on weekdays for live-rate execution and set a rate alert to avoid month-end volatility.
- 01When INR is weak (higher EUR/INR) During euro strength periods or global risk-off sentiment, the recipient gets more rupees per euro.
- 02When INR is strong (lower EUR/INR) During strong FII inflows or RBI support phases — less favourable for senders.
- 03Weekday vs. weekend FX markets are closed on weekends. Weekend transfers execute at queued rates with no visibility. Always send on weekdays for live-rate execution.
- 04How to avoid spread losses Set a target rate, use FX alerts, and avoid sending at month-end or quarter-end when volatility spikes.
How to save money when receiving from Italy to India
You can keep more of every payment from Italy by comparing total INR received, not just the fee, asking senders to use the cheaper funding method, consolidating payouts, and using the correct RBI purpose codes. These habits can save thousands of rupees a year.
- 01Compare FX markup, not just fees Total INR delivered is the only number that matters. A zero-fee transfer with a 3% spread costs more than a €5 fee at near mid-market rates.
- 02Avoid weekend transfers FX markets are inactive on weekends. Transfers initiated on Saturday or Sunday execute at stale rates with no live pricing.
- 03Avoid double conversion Some Italian banks route EUR via USD before converting to INR. Choose platforms that convert EUR directly to INR.
- 04Set FX rate alerts For larger amounts, monitoring the EUR/INR rate and transferring at your target can meaningfully improve INR yield.
- 05Consolidate transfers where possible Each transfer carries fixed costs. Batching smaller payments into fewer, larger transfers reduces overall cost.
- 06Use purpose codes correctly Incorrect purpose codes delay settlement and FIRA issuance. Ensure your platform assigns the right RBI classification on every transaction.
- 07Choose RBI-regulated platforms Unregulated intermediaries carry settlement risk and may not issue valid FIRCs, creating compliance exposure down the line.
Tax & regulations for receiving money from Italy to India
Inward remittances into India are not taxed by default; tax depends on the nature of the income. Payments must arrive through authorised dealer channels with a purpose declaration, and India's TCS applies only to outward LRS transfers, not to money you receive. On the Italian side, outbound transfers above €1,000 require identity verification under EU AML rules, and money transfer operators must be registered with the OAM and supervised by Banca d'Italia.
- 01Italian outbound rules No legal cap on sending funds from Italy to India. EU AML regulations require identity verification for transfers above €1,000. SWIFT is the standard channel for non-SEPA destinations. Money transfer operators must be registered with the OAM (Organismo Agenti e Mediatori) and supervised by Banca d'Italia to operate legally in Italy.
- 02SEPA vs SWIFT for India SEPA transfers are only available within the European payments area. Indian banks accept SWIFT only. Platforms with multi-currency infrastructure can accept SEPA from the Italian sender side and forward funds to India via their own channels.
- 03RBI guidelines for inbound remittances Must arrive via authorised dealer (AD) channels. Purpose declaration required. INR credited at prevailing conversion rate.
- 04LRS considerations LRS governs outward remittances from India. Not applicable for Italy-to-India transfers.
- 05TCS & compliance TCS on remittances applies to LRS outflows from India only. Not applicable to inbound transfers from Italy.
- 06Double conversion warning Some Italian banks convert EUR to USD first, then USD to INR — costing two spreads instead of one. Always confirm your provider converts EUR directly to INR.
Send money to India from other countries
India is one of the world's top remittance destinations. See how the corridor looks from different sending countries and find the right guide for your route.
