# New bank rules for non-residents



## Bonio (Oct 22, 2010)

I read a report recently that banks now require new forms from existing non-resident bank account holders. The suggestion is the bank(UNICREDIT) can seize funds if those account holders fail to submit these forms....a deadline was also mentioned.

I've raised this on another forum, and I have already received helpful feedback and information.....but does anyone here have experience of this please?


Bonio


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## NickZ (Jun 26, 2009)

You should check the Bank Italia website. If it's real they'll have info .

OTOH the simplest is to quiz your bank.


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## Bonio (Oct 22, 2010)

Thanks NickZ,

I'm in the UK so the quiz won't happen


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## pudd 2 (Dec 10, 2008)

walk and talk to your bank when you are in italy online does not exist in italy if not change your bankto a local one to your house in italy and heavens forbid get to know the staff there and every thing wiil work out good


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## Bonio (Oct 22, 2010)

Sound advice pudd 2, and if I was in Italy that's exactly what I would do....but the real issue for those of us who are not in Italy is time, if the deadline of June is correct. So right now it's about trying to find out the facts.


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## Bonio (Oct 22, 2010)

pudd2,

By opening up this matter on the forums I had hoped to find the answer, but the best route is to consult an Italian accountant. There is one firm based near Florence with an office in the UK. That's my next move.


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## accbgb (Sep 23, 2009)

Any chance this is directed particularly at US citizens with Italian bank accounts? Could be FATCA related?

Treasury Releases Last Substantial Rules Package to Combat Offshore Tax Evasion


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## Bonio (Oct 22, 2010)

Let's please not speculate on the whys and wherefores at this point. I'm only concerned in finding out the facts right now.


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## accbgb (Sep 23, 2009)

Bonio said:


> Let's please not speculate on the whys and wherefores at this point. I'm only concerned in finding out the facts right now.


Um, I was speculating that it is something which may apply only to US citizens with Italian bank accounts.

If you want to learn the facts, you really have no choice other than to contact your Italian bank. Please be sure to let us know what you find out.


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## Bonio (Oct 22, 2010)

Contacting the bank is not an option for me here in the UK. If I have to come over to Abruzzo to sign new documents I will, but time is the issue for me, especially if the docs have to be submitted by the beginning of June. This is the critical point I would like an answer to.

As I said to pudd2, I had hoped someone on the forums had the answer. This is still possible because a member of another forum is due to visit his UC branch in Pescara today and I certainly will share anything I get from him...but ultimately if I have to consult with the Italian accountants firm I will.


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## BBCWatcher (Dec 28, 2012)

Bonio said:


> Contacting the bank is not an option for me here in the UK.


Why not? Telephone, fax, postal mail, and Internet still link the two countries.

I suspect we're all confused here. Why can't you contact your bank? Did your bank contact you to ask you to fill out some forms? What's going on here?


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## Bonio (Oct 22, 2010)

Well BBC there is an old Chines proverb which I think sums up my feelings to your questions ... 

"confused is as confused does"


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## Bonio (Oct 22, 2010)

this is the main extract as follows....

the short and tall of it is, you will need to provide some form of ID to your bank to comply with new anti money laundering rules that are being introduced and each bank, from what I understand has its own way of doing it, methodology and timescales. However, if you bank at Unicredit in Piazza Unione in Pescara, then I have a contact name for you who you can email and she will tell you what you need to provide and it can be done via email/fax. However, if you work in the financial sector, (banking, accountancy or suchlike) then it might not be so straight forward.


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## Bonio (Oct 22, 2010)

Hi I'm sorry if my latest message seems a little abrupt. But JOJO has edited it because of the reference to a competing forum....and I understand fully that was my error.

Cheers


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## jojo (Sep 20, 2007)

Bonio said:


> Hi I'm sorry if my latest message seems a little abrupt. But JOJO has edited it because of the reference to a competing forum....and I understand fully that was my error.
> 
> Cheers



Thems the rules - we dont allow links to competing forums - its not good business practice lol!!!! I've also had a bit of a "tidy up" on here as it was turning into a bit of a sarcasm competition!!! 

Stick to friendly info is the way to go 

Jo xxx


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## Bonio (Oct 22, 2010)

That's fair enough.


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## BBCWatcher (Dec 28, 2012)

Unfortunately that "tidying up" completely eliminated the one post in this thread (mine, as it happens) that contained a more or less complete answer concerning what's going on (bank enforcement of a European-wide anti-money laundering regulation), what to do about it (fill out the questionnaire your bank provides if you haven't already since 2007 or so), and what happens if you don't (your bank must block/freeze your account until you do, but your funds are not seized). That's the capsule summary anyway.


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## Bonio (Oct 22, 2010)

BBC, yes that 'tidying up" did eliminate your entire post and it was informative.... I think jojo got unseated by a couple of our exchanges.

However I have shared that information on another forum.

See, jojo, we're adults again.


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