Remitting from Italy to India

The following table shows how much it costs to remit money from Italy To India. Click on column headings to sort the data.

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

How much does it cost to remit?

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Collection period for Third quarter 2009 | First quarter 2009 | 2008

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140350

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank	Bank	2.00	1.06	2.49	3.49	2 days	Nationwide	Aug 07, 2009
Remit2India	MTO	2.00	1.33	2.76	3.86	Next day	Nationwide	Aug 07, 2009
Moneybookers	MTO	2.30	2.52	4.17	5.84	Less than one hour	Nationwide	Aug 07, 2009
Coinstar	MTO	6.00	0.33	4.62	6.47	Less than one hour	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	7.10	*0.00	*5.07	*7.10	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	8.60	*0.00	*6.14	*8.60	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	8.60	*0.00	*6.14	*8.60	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	10.10	*0.00	*7.21	*10.09	3-5 days	Nationwide	Aug 07, 2009
MoneyGram	MTO	8.50	1.49	7.56	10.58	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram via Poste Italiane	MTO/Post office	8.50	1.49	7.56	10.58	Less than one hour	Nationwide	Aug 07, 2009
iKobo	MTO	11.50	0.00	8.21	11.49	Less than one hour	Nationwide	Aug 07, 2009
Western Union	MTO	9.00	1.84	8.27	11.58	Less than one hour	Nationwide	Aug 07, 2009
Bank Average		7.28	0.21	5.41	7.57
MTO Average		6.55	1.25	5.93	8.30
MTO/Post office Average		8.50	1.49	7.56	10.58
Total Average		7.02	0.84	5.85	8.19
Total Average in First Quarter 2009		5.91	1.11	5.49	7.69

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank	Bank	2.00	1.06	1.64	5.74	2 days	Nationwide	Aug 07, 2009
Remit2India	MTO	2.00	1.33	1.90	6.65	Next day	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	7.10	*0.00	*2.03	*7.10	3-5 days	Nationwide	Aug 07, 2009
Coinstar	MTO	6.00	0.33	2.04	7.14	Less than one hour	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	8.60	*0.00	*2.46	*8.61	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	8.60	*0.00	*2.46	*8.61	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	10.10	*0.00	*2.89	*10.12	3-5 days	Nationwide	Aug 07, 2009
Moneybookers	MTO	2.30	2.52	3.18	11.13	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram	MTO	13.50	1.49	5.35	18.72	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram via Poste Italiane	MTO/Post office	13.50	1.49	5.35	18.72	Less than one hour	Nationwide	Aug 07, 2009
iKobo	MTO	21.25	0.00	6.07	21.24	Less than one hour	Nationwide	Aug 07, 2009
Western Union	MTO	15.00	1.84	6.13	21.46	Less than one hour	Nationwide	Aug 07, 2009
Bank Average		7.28	0.21	2.29	8.02
MTO Average		10.01	1.25	4.11	14.38
MTO/Post office Average		13.50	1.49	5.35	18.72
Total Average		9.16	0.84	3.46	12.11
Total Average in First Quarter 2009		7.47	1.11	3.37	11.80

Corridor note

* indicates that the RSP is not transparent and did not provide all the relevant information. Roll-over firm name for more info.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank	Bank	2.86	1.06	2.49	4.98	2 days	Nationwide	Aug 07, 2009
Remit2India	MTO	2.86	1.33	2.76	5.52	Next day	Nationwide	Aug 07, 2009
Moneybookers	MTO	3.29	2.52	4.17	8.34	Less than one hour	Nationwide	Aug 07, 2009
Coinstar	MTO	8.57	0.33	4.62	9.24	Less than one hour	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	10.14	*0.00	*5.07	*10.14	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	12.29	*0.00	*6.14	*12.28	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	12.29	*0.00	*6.14	*12.28	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	14.43	*0.00	*7.21	*14.42	3-5 days	Nationwide	Aug 07, 2009
MoneyGram	MTO	12.14	1.49	7.56	15.12	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram via Poste Italiane	MTO/Post office	12.14	1.49	7.56	15.12	Less than one hour	Nationwide	Aug 07, 2009
iKobo	MTO	16.43	0.00	8.21	16.42	Less than one hour	Nationwide	Aug 07, 2009
Western Union	MTO	12.86	1.84	8.27	16.54	Less than one hour	Nationwide	Aug 07, 2009
Bank Average		10.40	0.21	5.41	10.82
MTO Average		9.36	1.25	5.93	11.86
MTO/Post office Average		12.14	1.49	7.56	15.12
Total Average		10.02	0.84	5.85	11.70
Total Average in First Quarter 2009		8.76	1.11	5.49	10.98

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank	Bank	2.86	1.06	1.64	8.20	2 days	Nationwide	Aug 07, 2009
Remit2India	MTO	2.86	1.33	1.90	9.50	Next day	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	10.14	*0.00	*2.03	*10.15	3-5 days	Nationwide	Aug 07, 2009
Coinstar	MTO	8.57	0.33	2.04	10.20	Less than one hour	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	12.29	*0.00	*2.46	*12.30	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	12.29	*0.00	*2.46	*12.30	3-5 days	Nationwide	Aug 07, 2009
Banca Intesa SanPaolo*	Bank	14.43	*0.00	*2.89	*14.45	3-5 days	Nationwide	Aug 07, 2009
Moneybookers	MTO	3.29	2.52	3.18	15.90	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram	MTO	19.29	1.49	5.35	26.75	Less than one hour	Nationwide	Aug 07, 2009
MoneyGram via Poste Italiane	MTO/Post office	19.29	1.49	5.35	26.75	Less than one hour	Nationwide	Aug 07, 2009
iKobo	MTO	30.36	0.00	6.07	30.35	Less than one hour	Nationwide	Aug 07, 2009
Western Union	MTO	21.43	1.84	6.13	30.65	Less than one hour	Nationwide	Aug 07, 2009
Bank Average		10.40	0.21	2.29	11.45
MTO Average		14.30	1.25	4.11	20.55
MTO/Post office Average		19.29	1.49	5.35	26.75
Total Average		13.09	0.84	3.46	17.30
Total Average in First Quarter 2009		11.32	1.11	3.37	16.85

Corridor note

* indicates that the RSP is not transparent and did not provide all the relevant information. Roll-over firm name for more info.

135330

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	0.61	2.09	2.82	Next day	Nationwide	Feb 17, 2009
ICICI Bank	Bank	2.39	1.62	3.39	4.58	2 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - non a/c holder to non ICICI a/c holder	Bank	5.60	0.00	4.15	5.60	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO BANK - non a/c holder to ICICI bank a/c holder	Bank	5.60	0.00	4.15	5.60	3-5 days	Nationwide	Feb 17, 2009
Poste Italiane	Bank/Post office	3.25	2.04	4.45	6.01	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder account to non ICICI bank a/c account holder	Bank	7.10	0.00	5.26	7.10	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder to ICICI a/c holder	Bank	7.10	0.00	5.26	7.10	3-5 days	Nationwide	Feb 17, 2009
Coinstar	MTO	6.00	1.01	5.45	7.36	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram	MTO	8.50	2.31	8.60	11.61	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram via Poste Italiane	MTO/Post office	8.50	2.31	8.60	11.61	Less than one hour	Nationwide	Feb 17, 2009
Western Union	MTO	9.00	2.31	8.97	12.11	Less than one hour	Nationwide	Feb 17, 2009
Bank Average		5.56	0.32	4.44	5.99
Bank/Post office Average		3.25	2.04	4.45	6.01
MTO Average		6.38	1.56	6.28	8.48
MTO/Post office Average		8.50	2.31	8.60	11.61
Total Average		5.91	1.11	5.49	7.41
Total Average in 2008		6.95	1.98	7.13	9.63

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	0.61	1.22	4.03	Next day	Nationwide	Feb 17, 2009
INTESASANPAOLO - non a/c holder to non ICICI a/c holder	Bank	5.60	0.00	1.70	5.61	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO BANK - non a/c holder to ICICI bank a/c holder	Bank	5.60	0.00	1.70	5.61	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder account to non ICICI bank a/c account holder	Bank	7.10	0.00	2.15	7.10	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder to ICICI a/c holder	Bank	7.10	0.00	2.15	7.10	3-5 days	Nationwide	Feb 17, 2009
ICICI Bank	Bank	2.39	1.62	2.34	7.72	2 days	Nationwide	Feb 17, 2009
Coinstar	MTO	6.00	1.01	2.83	9.34	Less than one hour	Nationwide	Feb 17, 2009
Poste Italiane	Bank/Post office	4.39	2.04	3.37	11.12	3-5 days	Nationwide	Feb 17, 2009
MoneyGram	MTO	13.50	2.31	6.40	21.12	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram via Poste Italiane	MTO/Post office	13.50	2.31	6.40	21.12	Less than one hour	Nationwide	Feb 17, 2009
Western Union	MTO	15.00	2.31	6.85	22.60	Less than one hour	Nationwide	Feb 17, 2009
Bank Average		5.56	0.32	2.01	6.63
Bank/Post office Average		4.39	2.04	3.37	11.12
MTO Average		9.12	1.56	4.32	14.26
MTO/Post office Average		13.50	2.31	6.40	21.12
Total Average		7.47	1.11	3.37	11.12
Total Average in 2008		10.67	1.98	5.21	17.19

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.96	0.61	2.09	4.18	Next day	Nationwide	Feb 17, 2009
ICICI Bank	Bank	3.54	1.62	3.39	6.78	2 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - non a/c holder to non ICICI a/c holder	Bank	8.30	0.00	4.15	8.30	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO BANK - non a/c holder to ICICI bank a/c holder	Bank	8.30	0.00	4.15	8.30	3-5 days	Nationwide	Feb 17, 2009
Poste Italiane	Bank/Post office	4.81	2.04	4.45	8.90	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder account to non ICICI bank a/c account holder	Bank	10.52	0.00	5.26	10.52	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder to ICICI a/c holder	Bank	10.52	0.00	5.26	10.52	3-5 days	Nationwide	Feb 17, 2009
Coinstar	MTO	8.89	1.01	5.45	10.90	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram	MTO	12.59	2.31	8.60	17.20	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram via Poste Italiane	MTO/Post office	12.59	2.31	8.60	17.20	Less than one hour	Nationwide	Feb 17, 2009
Western Union	MTO	13.33	2.31	8.97	17.94	Less than one hour	Nationwide	Feb 17, 2009
Bank Average		8.23	0.32	4.44	8.88
Bank/Post office Average		4.81	2.04	4.45	8.90
MTO Average		9.44	1.56	6.28	12.56
MTO/Post office Average		12.59	2.31	8.60	17.20
Total Average		8.76	1.11	5.49	10.98
Total Average in 2008		10.30	1.98	7.13	14.26

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	3.03	0.61	1.22	6.10	Next day	Nationwide	Feb 17, 2009
INTESASANPAOLO - non a/c holder to non ICICI a/c holder	Bank	8.48	0.00	1.70	8.50	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO BANK - non a/c holder to ICICI bank a/c holder	Bank	8.48	0.00	1.70	8.50	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder account to non ICICI bank a/c account holder	Bank	10.76	0.00	2.15	10.75	3-5 days	Nationwide	Feb 17, 2009
INTESASANPAOLO - a/c holder to ICICI a/c holder	Bank	10.76	0.00	2.15	10.75	3-5 days	Nationwide	Feb 17, 2009
ICICI Bank	Bank	3.62	1.62	2.34	11.70	2 days	Nationwide	Feb 17, 2009
Coinstar	MTO	9.09	1.01	2.83	14.15	Less than one hour	Nationwide	Feb 17, 2009
Poste Italiane	Bank/Post office	6.65	2.04	3.37	16.85	3-5 days	Nationwide	Feb 17, 2009
MoneyGram	MTO	20.45	2.31	6.40	32.00	Less than one hour	Nationwide	Feb 17, 2009
MoneyGram via Poste Italiane	MTO/Post office	20.45	2.31	6.40	32.00	Less than one hour	Nationwide	Feb 17, 2009
Western Union	MTO	22.73	2.31	6.85	34.25	Less than one hour	Nationwide	Feb 17, 2009
Bank Average		8.42	0.32	2.01	10.05
Bank/Post office Average		6.65	2.04	3.37	16.85
MTO Average		13.83	1.56	4.32	21.60
MTO/Post office Average		20.45	2.31	6.40	32.00
Total Average		11.32	1.11	3.37	16.85
Total Average in 2008		16.16	1.98	5.21	26.05

135330

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	2.21	3.69	4.98	1 day	-	May 29, 2008
ICICI Bank	Bank	5.00	1.54	5.24	7.07	2-3 days	-	May 29, 2008
Poste Italiane	Bank/Post office	5.16	1.79	5.62	7.59	3-4 days	-	May 29, 2008
Coinstar	MTO	5.50	2.36	6.43	8.68	24 hours	-	May 29, 2008
MoneyGram	MTO	8.50	1.79	8.09	10.92	Instant	-	May 29, 2008
Western Union	MTO	9.00	2.36	9.03	12.19	Instant	-	May 29, 2008
MoneyGram via Poste Italiane	MTO/Post office	13.50	1.79	11.79	15.92	Instant	-	May 29, 2008
Bank Average		5.00	1.54	5.24	7.07
Bank/Post office Average		5.16	1.79	5.62	7.59
MTO Average		6.25	2.18	6.81	9.19
MTO/Post office Average		13.50	1.79	11.79	15.92
Total Average		6.95	1.98	7.13	9.63
First Quarter 2009		5.91	1.11	5.49	7.41

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	2.21	2.82	9.31	1 day	-	May 29, 2008
ICICI Bank	Bank	5.00	1.54	3.06	10.10	2-3 days	-	May 29, 2008
Poste Italiane	Bank/Post office	5.16	1.79	3.36	11.09	3-4 days	-	May 29, 2008
Coinstar	MTO	11.50	2.36	5.85	19.30	24 hours	-	May 29, 2008
MoneyGram	MTO	13.50	1.79	5.88	19.40	Instant	-	May 29, 2008
Western Union	MTO	15.00	2.36	6.91	22.80	Instant	-	May 29, 2008
MoneyGram via Poste Italiane	MTO/Post office	22.50	1.79	8.61	28.41	Instant	-	May 29, 2008
Bank Average		5.00	1.54	3.06	10.10
Bank/Post office Average		5.16	1.79	3.36	11.09
MTO Average		10.50	2.18	5.36	17.69
MTO/Post office Average		22.50	1.79	8.61	28.41
Total Average		10.67	1.98	5.21	17.19
First Quarter 2009		7.47	1.11	3.37	11.12

Corridor note

Banks are able to send money internationally for their account holders only.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.96	2.21	3.69	7.38	1 day	-	May 29, 2008
ICICI Bank	Bank	7.41	1.54	5.24	10.48	2-3 days	-	May 29, 2008
Poste Italiane	Bank/Post office	7.64	1.79	5.62	11.24	3-4 days	-	May 29, 2008
Coinstar	MTO	8.15	2.36	6.43	12.86	24 hours	-	May 29, 2008
MoneyGram	MTO	12.59	1.79	8.09	16.18	Instant	-	May 29, 2008
Western Union	MTO	13.33	2.36	9.03	18.06	Instant	-	May 29, 2008
MoneyGram via Poste Italiane	MTO/Post office	20.00	1.79	11.79	23.58	Instant	-	May 29, 2008
Bank Average		7.41	1.54	5.24	10.48
Bank/Post office Average		7.64	1.79	5.62	11.24
MTO Average		9.26	2.18	6.81	13.62
MTO/Post office Average		20.00	1.79	11.79	23.58
Total Average		10.30	1.98	7.13	14.26
First Quarter 2009		8.76	1.11	5.49	10.98

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	3.03	2.21	2.82	14.10	1 day	-	May 29, 2008
ICICI Bank	Bank	7.58	1.54	3.06	15.30	2-3 days	-	May 29, 2008
Poste Italiane	Bank/Post office	7.82	1.79	3.36	16.80	3-4 days	-	May 29, 2008
Coinstar	MTO	17.42	2.36	5.85	29.25	24 hours	-	May 29, 2008
MoneyGram	MTO	20.45	1.79	5.88	29.40	Instant	-	May 29, 2008
Western Union	MTO	22.73	2.36	6.91	34.55	Instant	-	May 29, 2008
MoneyGram via Poste Italiane	MTO/Post office	34.09	1.79	8.61	43.05	Instant	-	May 29, 2008
Bank Average		7.58	1.54	3.06	15.30
Bank/Post office Average		7.82	1.79	3.36	16.80
MTO Average		15.91	2.18	5.36	26.80
MTO/Post office Average		34.09	1.79	8.61	43.05
Total Average		16.16	1.98	5.21	26.05
First Quarter 2009		11.32	1.11	3.37	16.85

Corridor note

Banks are able to send money internationally for their account holders only.

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