12155 Did you know you can use PayPal to transfer money to your Italian Accounts?

It's quite simple, and a fraction of the cost that you are charged by your bank.
Full details can be found here : [url]https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-receiving-fees-outside&countries=[/url]

But basically, the rate is 3.4% + 20p. Bye Bye Abbey who have just charged me 25 quid!

All you need to do is set up your PayPal account in the UK with detials of you UK Bank / Card, Then set another one up in Italy (you can still pick to display in English if you wish) then transfer the money up to PayPal from your UK account, and drop it into your Italian Bank from the Italian PayPal account linked to your Italian PayPal Account. It will take 3-5 days to hit your account.

I have just tried this with a tenner as a trial, but all seems well so far - I'll post again and let you know how it goes.

This is going to save me hundreds of pounds each year if you do many small payments rather than lump sums. The echange rate was at the commercial rate via PayPal too!, unlike the bank!

I hope it does the same for you!

Category
Cost of living - Utility Services

Submitted by Anonymous (not verified) on Tue, 04/14/2009 - 15:43

I use HiFX. They charge no commission, take 1-1.5cents off the exchange rate and you can (once you've set up an account) transfer up to £10,000 on line.

I'm not advertising but just telling you about what I think is a very good deal (the Sunday Times recommended them). It also takes 3-5 days for the money to appear in your Italian bank account.

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Submitted by Anonymous (not verified) on Tue, 04/14/2009 - 15:51

Cheaper than having an Italian bank account into which to transfer using Paypal, you can charge up your PostePay card (a pre-loaded debit card on the Bancomat and Visa Electron circuits) available from the Poste Italiane offices. I think it costs either €5 or €12 as a one time payment to own one of these PostePay cards, and they are fine to move money into or out of using Paypal, even online.

Submitted by Anonymous (not verified) on Tue, 04/14/2009 - 17:20

[B]Did you know you can use PayPal to transfer money to my Italian Account?[/B]

Submitted by Anonymous (not verified) on Wed, 04/15/2009 - 04:56

[quote=Charles Phillips;116534]Cheaper than having an Italian bank account into which to transfer using Paypal, you can charge up your PostePay card (a pre-loaded debit card on the Bancomat and Visa Electron circuits) available from the Poste Italiane offices. I think it costs either €5 or €12 as a one time payment to own one of these PostePay cards, and they are fine to move money into or out of using Paypal, even online.[/quote]

Thanks, Charles. Do you know if there's a limit to how much you can charge up the card?
We did away with our expensive Italian bank account, but will soon have some hefty bills to pay.

Submitted by Anonymous (not verified) on Wed, 04/15/2009 - 04:57

[quote=Cinghiale;116531]I use HiFX. They charge no commission, take 1-1.5cents off the exchange rate and you can (once you've set up an account) transfer up to £10,000 on line.

I'm not advertising but just telling you about what I think is a very good deal (the Sunday Times recommended them). It also takes 3-5 days for the money to appear in your Italian bank account.[/quote]

Yes. We use HIFX and can now do the transaction on line. Sums as small as £500 can be sent to our Italian bank. We use a Lloyds Debit card number. All transactions are less than 3 days...dare I say ...almost instant? Todays rate £1.12

Submitted by Anonymous (not verified) on Wed, 04/15/2009 - 05:21

Hi
I was paid by a client via paypal , and tranfering the funds to my back account cost 43 quid, and that was sterling to sterling ............not a happy bunny ..........grrrrr

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