Send Money to Italy

Italy hosts one of the largest Indian communities in Europe, with roughly 171,000 Indians living across the country. Lombardy holds the largest share, followed by Emilia-Romagna, Veneto, and the Lazio region around Latina.

The corridor is unusual in its composition. More than eighty per cent of Indians in Italy come from Punjab, and a large proportion work in dairy farming, agriculture, and food processing across the Po Valley, including the herds behind Parmigiano-Reggiano production. Around sixty gurdwaras serve the community, alongside a smaller professional population in Milan and Rome.

This concentration makes sending money to Italy a regular requirement. Family support, documentation costs, property payments, and business settlements all involve transfers in EUR. Many recipients are seasonal or agricultural workers whose income is irregular, so transfers from India often bridge gaps between contracts.

Even small differences in exchange rates or fees affect the final amount received. BookMyForex helps you send money to Italy with better rates, faster processing, and complete transparency at every step. 

Indian remittances to Italy cluster in the agricultural north and the two largest cities. Lombardy receives the highest volume, with Brescia, Cremona, Mantua, and Milan drawing transfers linked to dairy farming, manufacturing, and professional employment.

Emilia-Romagna attracts steady inflows around Reggio Emilia and Novellara, long the heart of the Punjabi Sikh community. Lazio sees transfers concentrated in Latina and the Agro Pontino farming belt, while Veneto, Piedmont, and Rome receive regular flows tied to agriculture, services, and diplomatic households. Vicenza, Verona, and Perugia receive smaller inflows tied to manufacturing, logistics, and settled farming households. 

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Accurate beneficiary details, including the recipient's IBAN and the bank's BIC or SWIFT code, are essential, and Italian banks match the account holder name against the IBAN before crediting funds.

Most recipients hold accounts with major banks such as Intesa Sanpaolo, UniCredit, Banco BPM, or Poste Italiane, making bank-to-bank transfers the preferred and most reliable method. Funds sent from India are credited in EUR, allowing recipients to use the money immediately for rent, fees, or everyday expenses. Transfers within the SEPA area settle quickly once funds reach the Italian banking system. 

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

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