Transferring money from USD to EUR - USA to Venice - Venice forum

Transferring money from USD to EUR - USA to Venice

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stairway2evan Member

Member since 19 August 2017

stairway2evanMember20 August 2017 02:24:57

Hello All,

I'm planning to move to Venice to attend Ca' Foscari University of Venice, currently I live in Kentucky. I'm wondering if anyone could offer some insight as to the best and cheapest way to transfer my money from my US bank account to Italy? Around $20,000. It looks like using TransferWise is going to be the best bet to lock in a great rate of return on the currency conversion and the low bank transfer fees. It does take up to 10 days for a bank transfer though I believe so I guess I would just bring some cash with me to hold me over until I find a bank and transfer the money into an Italian account. Is anyone familiar with how banks work in Italy? I hear they can be expensive. I wonder if there is a student account or something. I am dual citizen with USA and Italian citizenship. I plan to stay in Italy so I would like to close my account in America once the money is transferred. Thank you!

Best,

Evan

Pablo0035 Member

Member since 25 August 2017

Pablo0035Member25 August 2017 13:49:14

I've used three times for GBP to EUR. They're not a transfer company. They let you run a 15 minute auction and the transfer companies bid for your business. The winning company gets your contact details. There's no obligation. It's worked well for me.

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