Preparing to move
Sending money home from Italy to South America: what actually arrives
Preparing to move · · 2 min read
By Lorenzo Schiavone · calculator developer
When you send money home, what arrives depends on two costs: the fee and the exchange rate applied, which is worse than the official one. Before you confirm an online transfer the provider must show the conversion cost, the total debited and the amount the recipient will get: compare that last figure.
How much is sent from Italy
In 2025 remittances from Italy totalled €8,608 million (€8,285 million in 2024), according to Banca d’Italia. To South America:
| Country | € million |
|---|---|
| Peru | 385.4 |
| Ecuador | 160.2 |
| Colombia | 104.2 |
| Brazil | 94.7 |
| Bolivia | 22.7 |
| Argentina | 17.8 |
| Venezuela | 10.7 |
Fee and exchange rate
The fee is the stated price of the transfer. The exchange rate is the other cost: the provider converts euros at a less favourable rate than the reference rate and keeps the difference. A “no fee” transfer can cost more than one with a fee if its rate is worse.
What you must be told first
For online credit transfers with a currency conversion, EU rules require the provider to show, before you confirm, an estimate of the conversion charges, the total amount debited and the amount transferred to the payee in their currency.
How much of your net you can send
Start from real monthly net pay and take off rent and living costs: what is left is your margin. The calculator can show the net in soles, pesos, reais or bolívares at the day’s official rate; compare it with what the provider offers to see what the conversion costs.
Frequently asked questions
What is the cheapest way to send money? ▾
There is no single answer: always compare the amount the recipient receives, not the fee.
Will I get the calculator’s exchange rate? ▾
No. It is the official reference rate; banks and transfer services apply their own.
Are remittances taxed in Italy? ▾
You send money on which contributions and tax have already been paid through the payslip.
Sources and method
- Banca d’Italia · remittances abroad by immigrants in Italy
- Regulation (EU) 2021/1230 · cross-border payments, article 5
- QuantoNetto.Com · method, sources and limits of the estimates
Each guide states the period it covers and the assumptions behind its examples. Net pay estimates flag any prior-year municipal rates. The actual monthly payslip may differ from the annual average.