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A small corridor, described honestly
There is no Sammarinese community in Canada to speak of, and pretending otherwise would be a poor start. The payments that run this way are specific: a property in or near the republic, an invoice from a Sammarinese company, a Canadian who took a job there, a family matter being settled by a notary.
What Grey does is simple enough to state in a line. Your balance converts to euro once, and the euro reaches the recipient's IBAN at Cassa di Risparmio della Repubblica di San Marino, Banca di San Marino or another bank there. Both numbers, the rate and the fee, are on screen before you confirm.
Three steps
Open an account
Free, about five minutes and one valid identity document, finished long before a Sammarinese notary sends you a figure to pay.
Hold euro
Grey holds balances in US dollars, provided by Lead Bank, pounds or euro. For San Marino, euro is the obvious one.
Send to the IBAN
Enter the IBAN, read the euro total and the fee, confirm. Nobody in San Marino has to sign up.
Cost on a small corridor
Against a Canadian bank wire the difference is mostly in what you can see. A wire is priced at the counter, routed through correspondents, and sometimes reduced before it arrives. Grey puts both numbers up before you commit and lets you watch the transfer through to settlement.
The rate holds once you confirm
Grey shows a live rate while you set the transfer up. Pressing confirm fixes it, and the euro figure you saw is the euro figure that lands. On an infrequent payment tied to an invoice or a bill, that is the only behaviour worth having.
Grey or a Canadian bank wire
A wire to San Marino from a Canadian bank is a form, a correspondent chain and a cost you learn about afterwards, which is why international wire pricing at the big banks is a live complaint here. Grey shows the euro figure and the fee together, fixes the rate at confirmation, and keeps the transfer trackable until it settles.
What arrives
A euro credit in the recipient's bank account, looking like any ordinary European payment. They need no Grey account and no app.
IBAN only
Enter the San Marino IBAN. Cassa di Risparmio della Repubblica di San Marino and Banca di San Marino are both supported.
Timing
From a funded euro balance the credit typically reaches a Cassa di Risparmio or Banca di San Marino account within minutes.
GreyTag
If the person at the other end also uses Grey, GreyTag is instant and free.
Funding the balance from Canada
Interac e-Transfer does not cross the border and cannot be used here. Your Grey balance is funded by a client payment, an employer payment or a transfer you make yourself.
From a client
Invoices settled in euro or US dollars can arrive on Grey ready to send onward.
From an employer
Pay from a company outside Canada can land on the balance in its own currency.
From you
Move money you already hold onto Grey and keep it there until the payment is due.
With a euro balance in place, a San Marino payment is one screen.
What gets sent
Property
Purchase costs, upkeep and local taxes on a house or flat in the republic.
Invoices
Payments to Sammarinese firms, which are more numerous in manufacturing and services than the country's size suggests.
Work and relocation
Canadians who took a post there and still have money to move across.
Legal and notarial fees
Estates and property paperwork, usually a one-off with an exact figure attached.
Four things account for most of this route.
Five reasons
FAQs
Which San Marino banks does Grey pay?
Cassa di Risparmio della Repubblica di San Marino and Banca di San Marino are supported, along with other banks in the republic.
Does a payment to San Marino arrive in euro?
Yes. San Marino uses the euro, so your Grey balance converts once and the euro reaches the IBAN with nothing converting again.
What do I need to send money to San Marino?
The recipient's IBAN and name. They need no Grey account and nothing to install in order to receive the euro credit.
Is there a Sammarinese community in Canada sending money home?
Not a significant one. This corridor is mostly property costs, invoices from Sammarinese firms, relocation and notarial fees rather than family remittances.
How quickly does a transfer to San Marino arrive?
Transfers from a funded Grey balance typically arrive within minutes, and SEPA Instant settles in seconds where the receiving bank supports it.
Can I pay an invoice from a Sammarinese company from Canada?
Yes. Enter the company's IBAN, check the euro total and the fee, and confirm. The rate is fixed at that point.
Can Interac e-Transfer fund a payment to San Marino?
No. Interac does not leave Canada. Your Grey balance is funded by a client, an employer or a transfer you make yourself.
Which balance should I hold for San Marino?
Euro is the natural one. Grey also holds pounds and US dollars provided by Lead Bank if that is where your income arrives.
Is the euro rate fixed before I confirm the San Marino payment?
The rate is fixed at confirmation, so the euro figure on screen is the figure credited to the recipient's account.
Does the recipient in San Marino pay anything to receive it?
They receive a standard euro credit in their bank account and need no Grey account. Grey shows your fee before you confirm.
Can I track a transfer to San Marino?
Yes. Transfers are encrypted and trackable in the Grey app from confirmation through to settlement at the San Marino bank.
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