The ultimate guide to opening a bank account in Italy (2024)

If you're an expat moving to Italy, one of the first things you'll need to do is open a bank account in order to start receiving your Italian salary, pay bills and taxes, and make other transactions.

In this article, we'll give you information on:

• The different types of bank accounts
• The requirements for opening a bank account in Italy
• The process for opening a bank account in Italy
• If you can open a bank account in Italy online

Yes, anyone above the age of 18 can open a bank account in Italy.

However, you may encounter some limitations regarding the type of account you can open depending on whether you’re a resident or a non-resident.

What type of bank accounts can residents open in Italy?

You fall in the resident category if you spend more than 183 days per year in Italy. Besides the benefits you’ve as a resident in Italy, you’ve got the option of opening the following types of bank accounts:

• Conto corrente (current account) is the most common account that you’d use for day-to-day transactions

• Conto corrente cointestato (joint account) is a form of current account that you share with someone else

• Conto di risparmio (savings account) is a savings account that earns you higher interest than the current account

• Conto di deposito (deposit account) is a more restrictive type of a savings account that earns greater interest

What type of bank accounts can non-residents open in Italy?

You fall under the non-resident category if:

• You reside in Italy for less than 183 days per year
• You don't have a permanent place of residence in Italy

The only bank account option you’ve as a non-resident is the conto corrente non residenti, or conto estero, account. This is a form of the simplest conto corrente (current account).

Despite the difference in the types of bank accounts that are available to residents and non-residents, the requirements for opening a bank account in Italy are the same for both categories.

In order to open a bank account in Italy as an expat resident, you’ve to present:

• A valid identification document (passport or identity card)
• Your codice fiscale
• Proof of address
• Proof of employment/ enrollment in an Italian education institution or a residence permit

Some banks may also require you to transfer a particular amount of money to your new account upon opening it. These amounts vary widely and it’s best that you do your research in advance to avoid being caught off guard.

What are the opening times of banks in Italy?

Considering the Italian work culture, the fact that the Italian banks have limited opening times, especially in the afternoon, shouldn’t come as a surprise. To be exact, most Italian banks aren’t open on weekends and only take customers in between 15:00 and 16:30 in the afternoon.

What services do Italian banks provide to their customers?

Italian banks typically offer online banking, cheque books and automated utility bill payment as standard services.

Is it possible to open an Italian bank account online?

Unless the bank operates entirely online, like in the case of N26, you can't open an Italian bank account online because they want to verify your identity and documents in person.

There aren't any fees for opening a bank account in Italy and most banks don’t charge you for the physical debit and/ or credit card you get. Where present, the fees for receiving your credit and/ or debit card start at €30 and €12 respectively.

However, some banks may charge you for the maintenance of your account as well as for money transfers and withdrawals. Those fees vary widely between the different banks, so it’s best that you shop around to find the most favorable offer for you.

With more than 20 banks operating on the territory of Italy, you’ll have to find the one that accommodates your needs as an expat.

But don’t worry! We’ve compiled a list of the best banks in Italy that have dedicated English-speaking customer service representatives to help you with your banking needs:

• BNL is one of the largest banks in Italy and offers a wide range of products and services, including accounts for expats.

• Banco Nazionale del Lavoro is another major Italian bank that offers a range of products and services for expats.

• ING is a Dutch bank that offers a wide range of banking products and services, including accounts for expats.

• Unicredit is one of the largest banks in Italy and offers a wide range of products and services for expats.

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Although some Italian banks try to cater to the needs of expats, it’s recommended that you know some Italian in order to be able to communicate with the employees better.

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