Italy property owners could pick up some handy hints from top tips just issued in relation to foreign money transfers.

Homeowners that travel to their Italy property regularly enough to have opened an overseas bank account may find charges vary greatly when it comes to transferring pounds into euros.

They may therefore wish to pay attention to new advice from the Telegraph and shop around for the best foreign money transfer rates.

For amounts of less than £5,000, the newspaper recommends employing an established bank’s transfer system instead of an internet-based service, as such firms are not yet regulated.

It suggests deals from Barclays, Lloyds and HSBC, where clients pay between £10 and £30, plus a commission of approximately two per cent on top of the exchange rate and the receiving bank’s own charge.

However, Italy property owners transferring very small sums of money may want to consider PayPal, which, the newspaper states, charges just 20 pence per transaction, plus 3.9 per cent of the transaction value.

PayPal is currently available in 190 markets and has 75 million active accounts.

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