Monte dei Paschi di Siena – EUR Exchange Rates

Monte dei Paschi di Siena overseas euro money transfer alternatives

Beat Monte dei Paschi di Siena exchange rates when making a euro (EUR) money transfer to or from an overseas bank and your account in Italy – (Expats also use this service to send euros, UK pounds and other popular currencies back to their Italian accounts at Monte dei Paschi di Siena).

Monte dei Paschi di Siena – Euro (EUR) vs European Currency Exchange Rates

POPULAR EURO (EUR) EXCHANGE RATES – CHF CZK DKK GBP HUF NOK PLN SEK

Transfer exchange rates are calculated and updated hourly (Monday to Friday) from 8 am to 4 pm UK – GMT

Exchange rates can sometimes change and sadly banks do not always inform us when they alter them (especially if they raise exchange rates, rather than lower them). A lower foreign exchange rate will typically get you a better deal when sending money to/from euro. The recommended foreign exchange companies listed on our website can save you money and time with your international currency transfer requirements.

About Monte dei Paschi di Siena

Monte dei Paschi di Siena bank is the flagship of the Italian MPS Group. Monte dei Paschi di Siena bank is familiarly called “il Monte” and was founded in 1472. As the third largest bank in Italy, and the oldest worldwide surviving bank, Monte dei Paschi di Siena dates back to 1472. With it’s headquarters in Siena, Italy, Monte dei Paschi has several subsidiaries, including Banca Toscana, MPS Finance and Antonveneta. The bank has over 3,000 branches throughout Italy, and serves over 4.5 million customers.

Euro Transfer to/from Monte dei Paschi di Siena Bank in Italy

Making a transfer to or from the euro using a bank service could potentially lose you thousands of pounds due to the poor FX margin rate offered. Private currency brokers offer a much more competitive rate of exchange. Example: Currency broker TorFX are one of the UK’s leading and largest foreign currency exchange specialists assisting private individuals and businesses with their foreign currency transfers to and from most countries worldwide.

UK bank to Monte dei Paschi di Siena account v Currency Brokers

1: Bank money transfer information: For overseas money transfers, you will need to be an existing bank account holder with this provider to use their services. General Guidelines – High street banks also charge a commission fee when sending money abroad into another currency – Private brokers offer commission free currency transfers typically over a value of £5000 or €5816.117 euro. Bank transfer commission fees range from £15 to £30 depending on the bank.

2: Unless you pay a premium, high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.

Sending Money Abroad with Monte dei Paschi di Siena

To transfer funds abroad from your Monte dei Paschi di Siena account, you have to give the beneficiary’s IBAN and BIC to the bank. There are two types of transfers:

1: Euro Transfers: transfers exclusively in euros for amounts less than or equal to EUR 50,000 within the European Union, including the precise bank details of the beneficiaries (i.e. BIC and IBAN).

2: International Transfers: any transfers within or to countries outside the European Union (other currencies, no IBAN, etc.)

International transfer requests can be submitted by fax as long as you have signed a request at your local Monte dei Paschi di Siena branch.