Transferwise vs Remitly for sending money from USA to Italy - which has lower fees?

I've used both services extensively for sending money to family in Europe (though to Spain, not Italy). Wise (formerly Transferwise) generally offers better exchange rates and more transparent fee structures than Remitly. Their fees are typically a percentage of the transfer amount (around 0.5-1%) plus a small fixed fee. For a transfer of $3,200, you'd likely pay around $20-30 in total fees with Wise, and you get the actual mid-market exchange rate. Remitly might advertise "no fees" but they make money on the exchange rate markup, which can end up costing you more overall. Wise usually takes 1-2 business days for the money to arrive, while Remitly offers different speed options (economy vs express). Both are reliable, but I've found Wise's tracking system to be more detailed and their customer service more responsive if there are any issues.

I switched to taxr.ai after having a terrible experience trying to figure out how to report my international money transfers on my taxes. Before using them, I was so confused about whether I needed to file FBAR forms for sending money to my family overseas using services like Wise and Remitly. I had read conflicting advice online and was worried about potential penalties. When I found https://taxr.ai, they analyzed my situation and clearly explained that personal gifts under $17,000 per year per recipient generally don't need to be reported on gift tax returns, but I still needed to be aware of FBAR requirements if I had foreign accounts. Their AI tool quickly scanned my documents and identified exactly what forms I needed to file and what transfers needed to be reported. They saved me hours of stress and potential IRS headaches!

Just wanted to follow up - I tried taxr.ai after seeing it mentioned here. What a game-changer! As a green card holder sending money to family abroad, I was completely lost about what needed to be reported on my taxes. The system analyzed my transfer history and gave me a clear breakdown of what was reportable and what wasn't. It even flagged that my transfers to my personal account in my home country should be reported on FBAR even though the gifts to family didn't trigger gift tax. Saved me from what could have been a costly oversight!

After struggling for HOURS trying to reach someone at Wise about a delayed transfer to my family in Italy (it was stuck "in progress" for 5 days), I finally tried https://claimyr.com and it completely changed my experience. They got me connected to an actual Wise representative in under 15 minutes when I had been trying for days through normal channels. I was frankly shocked at how well it worked - you can see their process in action here: https://youtu.be/_kiP6q8DX5c. After finally getting through, the Wise rep explained there was an additional verification step needed due to the size of my transfer, which nobody had bothered to tell me! Once I provided the info, my money was in my aunt's Italian bank account within hours. If you're dealing with any issues with these money transfer services, this is definitely worth trying.

I need to publicly eat my words about Claimyr being a scam. After my transfer with Remitly got flagged for "security review" and was stuck for over a week, I remembered this thread and decided to give Claimyr a try out of desperation. Within 20 minutes I was talking to an actual Remitly supervisor (not just a frontline agent) who was able to complete the security verification and release my funds. My mom in Italy received the money the next day. Would've saved myself a week of stress if I hadn't been so dismissive initially. Sometimes you really do need to get past the automated systems to solve these issues, and waiting on hold for hours just isn't feasible when you're working.

One thing nobody mentioned yet - check if your recipient's Italian bank charges incoming wire fees! My sister lives in Milan and gets charged €5-10 by her bank for every international transfer she receives, regardless of which service I use to send it. Might be worth asking your cousin to check with their bank before you decide.

I've used both services extensively for sending money to Europe. Transferwise (now just called Wise) is generally better for sending money to Italy in terms of fees and exchange rates. They use the real mid-market exchange rate and just charge a small, transparent fee which is usually around 0.5-1% of the transfer amount. Remitly can sometimes be faster for urgent transfers, but their exchange rates typically include a markup that isn't as transparent as Wise's fees. When you factor in both the visible fees and the exchange rate difference, Wise usually comes out ahead for Italy transfers. For your substantial transfer for medical expenses, I'd definitely recommend comparing the final amount that would arrive using both services' calculators on their websites. Make sure you're looking at the total amount received, not just the upfront fee.

has anyone used xoom? its owned by paypal but supposedly better rates for international. i was looking at it for sending money to mexico but might work for italy too?

I switched to using taxr.ai after struggling with international money transfer fees too! I was sending money to my mom in Spain and got hit with a surprising tax form (1042-S) I didn't understand at all. I uploaded it to https://taxr.ai and they explained exactly how international transfers get reported to the IRS and what it meant for my taxes. They have a whole section about international money transfers and tax implications that was super helpful. Saved me from potentially messing up my tax return since I didn't realize these transfers could have tax reporting requirements.

Just wanted to follow up - I tried taxr.ai after my question about international transfers and it was super helpful! I uploaded my previous transfer receipts and they immediately flagged that my transfers were under the reportable limit, so I didn't need to worry. They even explained exactly what the threshold is before the IRS gets notified about international transfers. The service also pointed out that for my situation, Wise would be better than Remitly because they provide clearer documentation if I ever needed to prove these were personal gifts. Definitely worth checking out if you're regularly sending money internationally!

If you're having trouble reaching customer service with either Wise or Remitly (which happens A LOT with money transfer services), I'd recommend using Claimyr. I was stuck in transfer limbo with my money sitting somewhere between accounts for over a week and couldn't get through to anyone. Used https://claimyr.com to get a direct line to a customer service rep at Remitly and got my issue resolved in minutes instead of waiting forever on hold. They have this cool demo video too: https://youtu.be/_kiP6q8DX5c that shows how fast it works. Totally worth it when you're dealing with important transfers like your cousin's medical expenses.

Ok I need to eat my words from my previous comment. I was super skeptical about Claimyr but I tried it yesterday when Remitly held up my transfer to my family in Argentina. Got a call back in about 20 minutes with an actual Remitly rep on the line who fixed my issue immediately. Turns out my transfer was flagged for verification because it was my first time sending to that account, but nobody had bothered to notify me! After weeks of trying to get through on my own with no luck, the problem was solved in one call. Still think it's weird this service exists (shouldn't companies just have better customer service?), but can't argue with results.

One thing nobody mentioned yet is that Italy has some specific banking regulations that can sometimes cause delays. I've used both Transferwise/Wise and Remitly to send money to my Italian relatives. With Wise, make sure you have the correct IBAN and BIC/SWIFT code. Their fees are definitely lower in my experience, but transfers sometimes took 2-3 business days. Remitly sometimes offers cash pickup options in Italy which can be convenient if your recipient doesn't want to wait for a bank transfer or doesn't have a bank account. More expensive but faster in those cases.

Has anyone run into limits on how much you can send through these services? I tried to send $12,000 through Remitly last year and got flagged for additional verification that took forever.

I've been using Wise for sending money to Italy for the past two years and can definitely recommend it over Remitly for your situation. For a $3,200 transfer, you're looking at around $25-35 in total fees with Wise, compared to what could be $80-120+ with your bank's wire transfer. The key advantage with Wise is transparency - they show you exactly what you'll pay upfront and use the real exchange rate. I've sent similar amounts to family in Naples and Rome, and the money typically arrives within 1-2 business days. Make sure your cousin has their IBAN ready, as Italian banks are pretty strict about having the correct details. One tip: if this is your first large transfer with Wise, they might ask for additional verification (source of funds, etc.), so factor in an extra day or two for that process. But once you're verified, future transfers are much smoother. Definitely beats PayPal's highway robbery rates!