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The best way to send money from Italy to Uruguay
- The cheapest: Remitly
- Best exchange rate: Wise
- The fastest: Wise
- With the best ratings: Wise
What's the cheapest way to send money to Uruguay?
- Remitly: 47.6 EUR
- Wise: 48.79 EUR
- WorldRemit: 55.39 EUR
If you're looking to send money to Uruguay from the UK, it's important to calculate the total cost of your transfer from Euros to Uruguayan Pesos. You will need to pay attention to both the initial fee that the provider shows you and the EUR/UYU exchange rate.
Suppliers often claim to have low or even no fees, but in reality they are hidden within the exchange rate. Right now, the EUR/UYU interbank rate is 42.7955. Whenever you compare fees for transferring money to Uruguay, pay attention to the exchange rate they offer.
For example, most traditional banks add a hidden markup to the exchange rate they offer. If 1 EUR is worth 42.7955 UYU, your bank can add an exchange rate increase of 3% and give you an exchange rate of 1 EUR = 44.07937 UYU. Depending on how you set up your transfer, it could end up costing you more or the recipient getting less.
Remitly, the cheapest option, has a EUR/UYU exchange rate of 41.7800 and a fee of 47.6 EUR. This would save you 7.79 EUR compared to WorldRemit, which has a fee of 55.39 EUR.
Rate data is collected from the providers' websites and the fee is calculated taking into account the total cost (the transfer fee plus the exchange rate margin).
Vai a Remitly
What's the fastest way to send money to Uruguay from Italy?
The vendors in the table typically take:
- Wise: Instant-2 Days
- Remitly: 0-2 Days
- WorldRemit: 1-2 Days
Generally, sending money to Uruguay from Italy will be much faster using a money transfer company than a bank, which can take 3-5 business days. The fastest provider in our table for transferring money to Uruguay is Wise (Instant-2 Days).
go to Wise
Who is the best rated provider to send money to Uruguay from Italy?
Some 3 suppliers we've found to transfer money to Uruguay from Italy, here's how they rank in terms of number of reviews and average rating on Trustpilot:
- Wise: 188,870 reviews, rated 4.4/5 on Trustpilot
- WorldRemit: 70,648 reviews, rated 4/5 on Trustpilot
- Remitly: 39,078 reviews, rated 4/5 on Trustpilot
go to Wise
The safest way to send money to Uruguay from Italy
Choosing an international service to transfer money might seem risky. However, our comparison tool will only ever recommend reputable suppliers that operate within the law, wherever in the world they are located.
If you're looking for the safest ways to send money to Uruguay from Italy, search among providers who are registered and operate under the FCA. In some cases, operators may also be regulated by the PRA. also, if you're sending money with your bank, you may also have read about the FSCS. Too many acronyms? Let's see what they mean.
FCA - Financial Conduct Authority - almost all financial activities must be authorized by the FCA. The FCA's job is to regulate and supervise financial activities, to make sure that standards are met and that financial assets are traded safely and legally.
PRA - Prudential Regulation Authority - the PRA exists to make sure that banks, building societies, insurance companies and other similar financial institutions are run in a safe way, to control risks and keep customers' money safe.
FSCS - Financial Services Compensation Scheme - FSCS protects customers when their bank, insurer or other eligible financial services firm goes bankrupt. You may be able to get compensation through the FSCS to ensure you don't lose out, should your bank go bankrupt or run into other financial difficulties.
How to send money to Uruguay?
You have a few key options if you need to send money to Uruguay from Italy:
- Bank transfer to Uruguay from Italy - most banks will allow you to send money abroad online, by visiting a branch or by telephone. Payments in UYU will be sent directly from your bank account to the recipient's local bank account in your selected currency.
- Go to the branch - several specialized money transmission services operate through large networks of branches and agents, so you can visit a physical store and make your UYU payment in cash if you wish.
- Send money online to Uruguay - if you prefer to make your payment in GBP/UYU online or using your smartphone, you can choose the online banking service of your bank or a service specialized in international transfers. Specialized services can often offer better exchange rates and lower fees than banks.
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How to send money to another bank account in Uruguay from Italy:
Sending money to another bank account to Uruguay from Italy is often the most convenient option, both for you and your recipient. The recipient does not need to do anything to receive the money, which is automatically credited to the designated account in the chosen currency and can be easily spent or withdrawn from there.
If you're sending money directly to a bank account in Uruguay from the UK, choosing a specialist provider may be the cheapest and fastest way to pay. Different providers have their own processes for arranging payments - but the steps to follow are usually more or less the same:
4 easy steps to send money with a money transfer provider:
How to pay an international wire transfer to Uruguay from Italy?
Different providers offer different options for funding your international money transfer. Fortunately, you are spoiled for choice.
Let's look at some payment options for sending money to Uruguay from Italy with these providers:
Bank transfer or card (debit, credit and prepaid)
Bank transfer, card (debit, credit), SWIFT, Google Pay or Apple Pay
Bank transfer, card (debit, credit and prepaid) or Apple Pay
Select a supplier
What is needed to make an international bank transfer to Uruguay from Italy
- Conto number
- Bank code
- Branch code
EUR/UYU exchange rate trends
As with many currencies, the EUR/UYU exchange rate can fluctuate over time due to changes in supply and demand.
Exchange rate fluctuations may be caused by underlying changes in the economic situation in Italy or Uruguay. Other factors that can affect the rate are changes in political stability, or even simple speculation, where traders buy or sell currencies based on how they think trends will change in the future.
Right now, 1 Euro buys 42.7955 Uruguayan peso.
The average EUR/UYU exchange rate in the last 7 days was 42.85643. It is up 0.229% from the previous 7 days when it was 42.75831.
How much does it cost to send money to Uruguay from Italy?
When sending money to Uruguay from Italy with one of the international money transfer providers in our tables, the fees range from 47.6 EUR with Remitly to 55.39 EUR with WorldRemit (but the fee could be even higher with a bank). The exact cost depends a lot on where you're sending money, the amount you want to send, how you want to pay, and how you want your payment to be received.
Generally, sending money directly to the recipient's bank account using a specialized service is fairly low cost, while the fees for traditional bank transfers can be higher. Paying for your transfer by credit card or in cash can also often lead to increased fees.
When sending money internationally, don't forget that the overall fee you pay may include the transfer fee, an additional cost hidden in the exchange rate used, and third-party charges, such as a cash advance fee fee) from your credit card issuer.
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How long does it take for a wire transfer to Uruguay from Italy?
The time it takes to send money to Uruguay from the UK depends on several factors, including which provider you use, your payment method, and how you'd like the recipient to receive the money on their end. Among the providers we show you, the fastest international money transfer provider to Uruguay is Wise, who can deliver the money to your recipient in UYU in Instant-2 Days. The slowest provider to send Euros to Uruguay is WorldRemit, which takes 1-2 Days to send money to Uruguay.
Sending money to Uruguay from Italy - The verdict
When it comes to choosing the best provider to send money to Uruguay from Italy, it mostly depends on what your needs are.
The cheapest provider shown in our comparison is Remitly and the fastest is Wise. Wise can deliver your money to the recipient in Uruguay in Instant-2 Days.
If, on the other hand, your priority is security, when it comes to choosing the best provider of international transfers to Uruguay, bear in mind that all the providers we have listed above are regulated by different financial institutions and therefore should be safe ways to send money to Uruguay from Italy.
The definitive guide on how to find the best exchange rates online
Frequently asked questions about money transfers to Uruguay from Italy
What's the best way to transfer money abroad?
There is no single best way to transfer money to Uruguay. It all depends on your priorities. Different vendors offer different balances of cost, speed, and convenience. Using our comparison tool to take a look at different providers is a good way to easily find the best option for you.
How to make a bank transfer to Uruguay from Italy?
You can send money to Uruguay using your bank, a specialized money transfer service, an e-wallet, or by visiting a physical money remittance store. Each option has different pros and cons, so the best option for you will depend on your specific transfer and personal needs.
Can I send international money transfers to Uruguay from Italy for free?
You can't send money to Uruguay from Italy for free. Arranging an overseas money transfer comes at a cost to the providers, so there is always a fee to ensure that the company covers its costs and generates a profit. However, many providers choose to make the fees you pay harder to detect by adding them to the exchange rate used for the transfer. This way, they are able to advertise commission-free payouts, while still making a profit every time.
How can I calculate the exchange rate?
An exchange rate shows how much you earn when you sell one currency and buy another. However, there is no single exchange rate – indeed, banks and financial service providers can set their own exchange rates, which may actually include extra fees.
The best rate to use as a reference is the mid-market rate for your currency route. You can check this rate with a simple Google search, or by using a reliable online currency converter. This is the rate that banks and payment service providers get when they buy currency themselves. If the rate you're offered by a provider is different from the mid-market exchange rate, it usually means that a markup, an extra fee, is being added. This can increase costs or lead to the recipient receiving less than you expected.
When is the best time to transfer money to Uruguay from the UK?
There is no official best time to send money to Uruguay, this depends on a variety of factors, such as when you need to send money or when you want the funds to be received.
It will also depend on a variety of other factors, such as when you send the money or the fees that are offered by providers or banks.
How to send money online instantly?
Transfers made online for cash pickup or to e-wallets are often available quickly, if not instantaneously. You may also be able to send an instant transfer with an e-wallet service. However, in either case, you'll probably pay a premium for speed.
