how to open a bank account in italy

How To Open A Bank Account In Italy - A Guide For Expats

Source: www.expatfocus.com

Banks in Italy “Banks in Italy range from co-operative banks, or banchi popolari cooperativi, to credit or commercial banks and also cooperative credit banks, or banche di credito cooperativo.”

2

Imag

e so

urce

isto

ckph

oto.

com

http://www.expatfocus.com/



The workplace for expat

3

“Anyone can open a bank account in the country regardless of their citizenship status, though they must be aged over 18.” Im

age

sour

ce is

tock

phot

o.co

m




The Banca Monte dei Paschi di Siena “The Banca Monte dei Paschi di Siena is the country's third largest bank - and the world's oldest - and the Intesa Sanpaolo is also a popular choice with expats since it has 5,600 branches...“

4

Imag

e so

urce

isto

ckph

oto.

com




Opening a bank account in Italy

5

Imag

e so

urce

isto

ckph

oto.

com

“When it comes to opening a bank account in Italy, the most effective way is to turn up in person along with a passport, proof of address and a tax code, or codice fiscale, from the tax authorities… the code is usually issued on the same day.”




Obtaining a tax code “Obtaining a tax code is also a straightforward process, but it entails visiting an office of the Agency of Revenue, or Agenzia delle Entrate. There are lots of these offices located around the country and the tax code is needed for most paperwork particularly when an expat starts a new job in Italy.“6

Imag

e so

urce

isto

ckph

oto.

com




Resident’s bank account

7

Imag

e so

urce

isto

ckph

oto.

com

“For expats who have a work contract or residence permit, they can open a resident’s bank account and they will also need their tax code and identification documents.”




€300 daily limit

8

“Most banks have a €300 daily limit for the amount that can be withdrawn.”

Imag

e so

urce

isto

ckph

oto.

com




Type of bank accounts

9

Imag

e so

urce

isto

ckph

oto.

com

“When it comes to the type of bank accounts, the most popular are current, which is also known as a checking account.”




Open a bank account in your home country

10

“It's also possible to open a bank account while the expat is in their home country, though they will need to find an Italian bank with a presence in their country.”

Imag

e so

urce

isto

ckph

oto.

com




Not close your home bank account

11

Imag

e so

urce

isto

ckph

oto.

com

“Expats who are moving to Italy should not close their bank account in their home country if they are looking to return because opening a new account is more difficult than it used to be.”




What is illegal?

12

“It is illegal in Italy to bounce cheques and anyone doing so is likely to be prosecuted and banned from having a bank account. It's also illegal to postdate cheques and all cheques can be presented to a bank for payment on the day - regardless of the date on the cheque.”

Imag

e so

urce

isto

ckph

oto.

com



ThankYou

how to open a bank account in italy

Economy & Finance