Tuesday, July 30, 1996

How much does it cost to open up an italian bank account?

I have dollar and euro. I'm moving to italy. I think it will be in my best interst to open up an italian bank account.
How much euro do i need to open up an italian bank account?
How much American dollars do I need to open up an italian bank account if applicable?

Answer on How much does it cost to open up an italian bank account?

You don't need a minimum amount of money to open a bank account in Italy, but you do need to apply for it, and provide the bank with information regarding your job, your dwelling and the legality of your residing status.

The first thing you'll have to do is to get a "codice fiscale" upon your arrival in Italy or even before (Embassies and Consulates of Italy abroad can issue them). It's a 16-digit code used for identification purpose (almost like your social security number in the US), without which no official transaction (such as renting an apartment, registering a car, getting health insurance) can be done.

Once you have a "codice fiscale" secured, you could start looking for your bank. The largest banks in some cities have branch offices with English-speaking clerks. As an alternative to a bank account you could open a "Conto corrente postale" (Post Office account) which could be useful if you plan to travel a lot, as many small towns don't have banks but do have Post offices where you could withdraw money at the window or at an ATM.

Be sure to get your "Permesso di soggiorno" first, as no bank will open you an account by just showing up with your passport and a wad of cash, as they did in the old times.