Intergenerational transfers measured in several currencies (e.g. co-residence, contact, proximity and support) have been always considered important indicators for family solidarity. Most of the studies on intergenerational transfers examine the structural characteristics of such exchanges (as distance, frequency, type, motives), emphasising the potential positive association between the structure and the quality of parent–child relationships. Additionally, while most surveys include questions on the structural indicators of family exchanges, it is still uncommon for them to contain assessments of the relationships between parents and their adult children as well. Using the Italian 2009 Family Survey, this study analyses the satisfaction of parent–child relationships for parents aged 65 and older. After examining the association of such a variable with the structural indicators of intergenerational exchanges (frequency of contact), we explored the individual factors associated with satisfaction of relationships with a child using multilevel multinomial models. Overall, older Italian parents report high satisfaction in their relationships with their adult children. Additionally, a not strong, but statistically significant association between structure (contact) and satisfaction was found. This study shows how high satisfaction of relationships with children is positively associated with being a mother and being married and negatively associated with bad health status. Some of the variables considered have different impacts between the sexes of parents. Additionally, a better appreciation of relationships with daughters compared to sons was found, especially for fathers.