Compare Monte Dei Paschi Di Siena euro currency transfer options to/from Italy. You can beat Monte Dei Paschi Di Siena euro exchange rates when making an international money transfer or overseas payment, save time, money and get the best deal.
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About transaction fees: The transaction (or service) fee that banks and providers charge is made up of a fixed fee which varies, depending on where you are sending the money and which currencies apply to the transaction.
About money transfer providers: Unlike banks, money transfer companies offer the very best exchange rates and by keeping their margin rates low, they beat the banks by several percentage points.
About exchange rates: Money transfer exchange rates are calculated and updated weekdays, hourly 08:00 – 16:00. The exchange rates provided are indicative only and several factors may contribute to the final rate, including market conditions, transfer amount and the mode of transfer (online or via phone/email).
Save on the exchange rate conversion when transferring money or making payments overseas from your Monte Dei Paschi Di Siena account in euros, the UK pound & other currencies. Monte Dei Paschi Di Siena international money transfers to or from Italy have higher transaction charges, due to a less competitive exchange rate offered by Monte Dei Paschi Di Siena. Skip to: Italy Money Transfer Specialists
Typically, sending funds to or from your Monte Dei Paschi Di Siena bank account in euros, the UK pound or US dollar overseas bank account will involve a margin rate of 4.5% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Monte Dei Paschi Di Siena bank account in Italy needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euro (EUR) using Monte Dei Paschi Di Siena services would have a transaction exchange rate margin of around 4.5% – or 4,500 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Monte Dei Paschi Di Siena could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Monte Dei Paschi Di Siena bank account holder to use their services. Monte Dei Paschi Di Siena may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 (or 5,000 EUR).
Unless you pay a premium, Monte Dei Paschi Di Siena’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Banca Monte dei Paschi di Siena SpA (also known as BMPS or just MPS) is the oldest surviving bank in the world (the bank was originally created in 1472) and is the third largest bank in Italy, with over 2,000 local Italian banking branches.
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Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers