This article was created in partnership with Western Union.
With record trade figures between Italy and Romania, involving an increasing number of people and businesses, money transfer services between the two countries have never been more important. The strengthening relationship between Italy and Romania means that more people will need reliable ways to send and receive money for goods, services and gifts.
Whether you need to move money between your businesses, pay for essentials for relatives or simply wire a gift to a loved one, money transfers ensure your money gets where you want it on time, without unnecessary fees or delays.
Italy and Romania: Record numbers
According to I.Stat, Romania is the number one country of origin for people who have settled in Italy, with over 1.2 million Romanian nationals in residence. On top of that, there are 24,000 companies operated by Romanian citizens in Italy, according to Il Sole 24 Ore. The latest figures in this source suggest that the flow of people and goods between the two countries are at record levels, with Italy holding a 10.5% share of total Romanian foreign trade.
As the links between the two countries continue to grow, so, too, do the occasions where you need to move your money. As your business grows in Italy, for example, you may need to send money to Romania to pay for specialty goods or trade. Alternatively, you may need to send money home to pay for property maintenance or to help with family expenses. Money transfer services allow you to send money quickly and reliably. With a reliable money transfer, you can ensure your business, family and friends profit from the close connections between these two countries.
The easy way to send money to Romania
Sending money to Romania doesn’t have to be complicated. With the Western Union® app, you can check current Euro (EUR) to Leu (RON) exchange rates. You can also track your transfer to know the exact moment your payment will be delivered.
How your family members receive their money is also an important factor to consider. The app lets you select your method of delivery. The world may well be going digital, but sometimes cash is still needed: If your parents or relatives need money quickly, they can pick up their cash at one of the more than 7500 Western Union locations throughout Romania. If you need to make large, regular payments, perhaps to a spouse or to cover utilities and other vital transactions, you can choose for your money to go directly into the recipient’s bank account. Moreover, every transfer is given a tracking number, or an MTCN, so you can see the transfer’s status and ensure it’s delivered to its destination reliably.
Staying closer than ever
With their language links, geographic proximity and increasing foreign trade share, Romania and Italy are already closely tied to one another. But as the upward trend of commerce and exchange between Italy and Romania continues to grow, money movement between the two countries will only become more important. A money transfer service is a good option to send money, and providing a reliable, fast way to get your money to the people and places you need it to reach.