Further Advice
When you move to a foreign country, a bank account is a useful tool to enable you to manage your finances without paying expensive international withdrawal charges. There are certain useful guidelines to consider if you wish to open and manage a current account in Italy:
If you are not an Italian resident you are only entitled to have a foreign account. A foreign account is not particularly advantageous because you will usually pay higher transaction charges than you would with a local account; it is almost always sensible to open an Italian account if possible.
If you come from abroad, or will need to arrange money transfers from abroad, you should check the bank charges for these transactions before choosing the bank where you open an account.
If you are moving to Italy from another country it is advisable to open your account in person when you arrive in Italy, but you can choose to open an account via mail if you prefer.
To open a bank account via mail you will need to collect the relevant application forms from a branch of the appropriate bank, send a financial reference, an authorised certificate of your signature, and a copy of your identity card. If your application is successful you will need to arrange for money to be transferred to your new account.
If you are moving to Italy from another country and plan to open an Italian bank account, it is usually a good idea to keep your existing account open. It often proves convenient to have another bank account: if only to avoid withdrawal charges when you visit your previous country of residence.
When you choose a bank, it is sensible to pick one with a branch near to your home or place of work / study.
If you wish to withdraw a lot of money from your account, you will need to fill in a special withdrawal form, or write a cheque made out to yourself. Remember that cheques need to be written in Italian, with blue or black ink. The amount payable should be written in small letters and without spaces; additionally, write 'non transferibile' (not transferable) on the back of the cheque to avoid fraudulent misuse if the cheque is lost.
International transfers are available from a current account of any Italian bank; remember however that international transfers take longer than national transfers, and you will need to give the sender both your IBAN and BIC codes for the transfer to be made.
You should check any bank statements sent to you, to ensure that there is no suspicious activity on your account and the bank is not charging you any unnecessary fees.
Check that the terms and conditions agreed in the contract do not change suddenly; if changes will be made, you should be informed at least thirty days before they take effect.
Keep any documents pertaining to your account, such as the contract, any changes, and your bank statements. Remember that only written agreements are considered to be binding.
