# How can I open a bank account?



## midlandpete

Hi All

When I was in Puglia in the summer tried to open a bank account and found it impossible

It was partly my fault as I dont speak Italian (signed up for a course as soon as I came back) and no one seemed to understand my broken italina for open a bank account

Met and English Business man but he advised that all the banks he had dealt with just ripped him off so he didn't use a bank anymore (a good start) Someone also said that the italian government took money from your account (is it some sort of tax)

The best advice I could get was to open an account with the post office

When I tried I hit a brick wall 

So I put my Euro travellers cheques back in my pocket and came home!

Long term was hoping to move to italy (Abruzzo?) and possible buy a house to retire in but this whole thing has put me off a bit - had heard it was hard work doing things in italy but did not think it was this bad - I can open a bank account by post in England!

Dont the Italians want to do any business or is it just me not knowing the system

Long term must do something about this but just dont know what?

Pete


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## Nardini

You need to get your Codice Fiscale first - in fact, you need that before you can do most official things here in Italy. You will then need an address in Italy that you have residency at. Residency is something you will apply for at your local comune - ask for the anagraf.

Once you have done that, you can do just about anything you fancy - apart from vote in Italian elections. Of course, you will be able to vote in the European elections once your residency is confirmed.

The stories you were told that Italians are all thieves or that the government takes money directly out of your bank account is concerned - you can feel assured that the stories are nonsense. Sour grapes is an expression that comes readily to mind.

As far as your thought as to whether or not Italians want your business is concerned - "they" are not particularly bothered for your business one way or the other. Your happy integration into Italian life would be far more interesting.


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## Bevdeforges

Don't have any experience in Italy, but I hear many administrative things there are similar to here in France. Until you are resident in Italy, they may restrict you to a so-called "foreigner's account." That could be the tax the English businessman was speaking of - it's supposed to prevent folks stashing money all around the EU to avoid their home taxman.

For a temporary "bank" until you establish your residence, the Post Office is actually a pretty good idea. But be prepared to have to provide lots of documents to open a normal resident account. It's just the way things are.
Cheers,
Bev


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## christosandkim

Nardini said:


> You need to get your Codice Fiscale first - in fact, you need that before you can do most official things here in Italy. You will then need an address in Italy that you have residency at. Residency is something you will apply for at your local comune - ask for the anagraf.
> 
> Once you have done that, you can do just about anything you fancy - apart from vote in Italian elections. Of course, you will be able to vote in the European elections once your residency is confirmed.
> 
> The stories you were told that Italians are all thieves or that the government takes money directly out of your bank account is concerned - you can feel assured that the stories are nonsense. Sour grapes is an expression that comes readily to mind.
> 
> As far as your thought as to whether or not Italians want your business is concerned - "they" are not particularly bothered for your business one way or the other. Your happy integration into Italian life would be far more interesting.


It sounds very similar to the system in Greece! We cant wait to be part of Italian life later this year!


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## midlandpete

*Forigner Account?*

So are you saying that unless I am a resident I cannot open an account?

pete


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## Barry

*Banking*



midlandpete said:


> So are you saying that unless I am a resident I cannot open an account?
> 
> pete


We opened an account with Unicredit in Pescara. They arranged the codice fiscale's for us. It is just a checking account we used to purchase our house and they now pay our electric bill from it for us. Very convenient but expensive in terms of service charges.


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## luiss_in_basilicata

Nardini said:


> You need to get your Codice Fiscale first - in fact, you need that before you can do most official things here in Italy. You will then need an address in Italy that you have residency at. Residency is something you will apply for at your local comune - ask for the anagraf.
> 
> Once you have done that, you can do just about anything you fancy - apart from vote in Italian elections. Of course, you will be able to vote in the European elections once your residency is confirmed.
> 
> The stories you were told that Italians are all thieves or that the government takes money directly out of your bank account is concerned - you can feel assured that the stories are nonsense. Sour grapes is an expression that comes readily to mind.
> 
> As far as your thought as to whether or not Italians want your business is concerned - "they" are not particularly bothered for your business one way or the other. Your happy integration into Italian life would be far more interesting.




you don't need an address to have your own codice fiscale. Anyway, you can open a bank account just going to the bank and ask there! It is preferable to have an italian address, better residency, otherwise they will charge you as EU account, more taxes! The myth about governement taking money from the bank account is just a myth! The bank charge you monthly for the paper they use and other little expenses but you can easily check all the details on your "estratto conto"!


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## luiss_in_basilicata

luiss_in_basilicata said:


> you don't need an address to have your own codice fiscale. Anyway, you can open a bank account just going to the bank and ask there! It is preferable to have an italian address, better residency, otherwise they will charge you as EU account, more taxes! The myth about governement taking money from the bank account is just a myth! The bank charge you monthly for the paper they use and other little expenses but you can easily check all the details on your "estratto conto"!


I forget to say, I'm not 110% sure but you can inscribe yourself in the voting list of Italy as well, not just EU! So you can vote in Italy in your own place!


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## Nardini

luiss_in_basilicata said:


> you don't need an address to have your own codice fiscale. Anyway, you can open a bank account just going to the bank and ask there!


As I said, luiss, you need your Codice Fiscale FIRST. I appreciate that you are Italian, born and bred, however - I have lived here for over 15 years (working) and my wife for nearly 60 years. We do actualy know what we are talking about, so please can we have a little less of the xenophobia. 

As far as "Just going to a bank and ask" is concerned, you MUST have a Codice Fiscale if you wish an Italian bank account. If you also have Residenza, you can then have a "normal" bank account, rather than a "foreigners" account - which costs considerably less in bank charges. 


It matters not where someone was born when it comes to knowledge - it is the aquisition and application of that knowledge that matters. Being born Italian does not make you the font of knowledge of all things Italian, of course - although it MAY help you understand the grammar of Italian law sometimes.


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## Nardini

luiss_in_basilicata said:


> I forget to say, I'm not 110% sure but you can inscribe yourself in the voting list of Italy as well, not just EU! So you can vote in Italy in your own place!


You are partly correct here, Luiss. You are eligible to vote in Italy once you have your residenza established in the following circumstances:

1) If you are a citizen of a EU member state, you are eligible to vote in the European Elections - if you are non-EU, however (such as US or Australian, etc) you do not have this eligibility.

2) You are eligible to vote in the local municipal elections, once you have residenza granted. 

3) You are not eligible to vote for any national elections in Italy unless you hold full citizenship of Italy.

4) Your entitlement to vote in your home country elections remains whilst you are in Italy. You must register with the relevant authorities in your country of citizenship to do so.

As the EU elections are coming up soon, anyone wishing to vote must make sure that their registration with their local comune is in order and that they have their voting card in time for the elections.


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## luiss_in_basilicata

Nardini said:


> As I said, luiss, you need your Codice Fiscale FIRST. I appreciate that you are Italian, born and bred, however - I have lived here for over 15 years (working) and my wife for nearly 60 years. We do actualy know what we are talking about, so please can we have a little less of the xenophobia.
> 
> As far as "Just going to a bank and ask" is concerned, you MUST have a Codice Fiscale if you wish an Italian bank account. If you also have Residenza, you can then have a "normal" bank account, rather than a "foreigners" account - which costs considerably less in bank charges.
> 
> 
> It matters not where someone was born when it comes to knowledge - it is the aquisition and application of that knowledge that matters. Being born Italian does not make you the font of knowledge of all things Italian, of course - although it MAY help you understand the grammar of Italian law sometimes.


Absolutely no xenophobia from my point of view!!! You keep it the wrong way, there is no xenophobia at all in my words....I was trying to explain I was in this process with some clients I have and they just asked for a fiscal code and that's it! They went to the bank and open their account! But not having a residence they have to open a EU account with more taxes involved....I was just sharing my experience!! No xenophobia at all!!!


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## Barry

You are correct Luiss, you just go to the bank and they open a non resident checking account for you and arrange the codice fiscale. They send our statements to us in Canada and we have on line access as well.

Barry


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## Nardini

Barry said:


> You are correct Luiss, you just go to the bank and they open a non resident checking account for you and arrange the codice fiscale. They send our statements to us in Canada and we have on line access as well.
> 
> Barry


You miss my point.

You can open a bank account that is for foreigners with only a Codice Fiscale.

This type of account has higher bank charges than a "normal" bank account.

If you have your Codice Fiscale AND your residenza, you can open a normal type of bank account with much lower bank charges.

There are TWO types of bank accounts. I trust you now understand the true situation.


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## Howard

Nardini is correct. 

We opened a 'conto estero' (foreign account) with just a fiscal code which we got from the Italian Vice Consulate in the UK. We used this account to buy our house and when we finally arrived in Italy (April 2008) we then sorted out the residence. Once we had this we changed the account to a current account with Bancomat card and cheque book. 

We also bought a car and insured it. Cost the earth as so far we have not been able to rely on our UK no claims bonus. I plan to speak to Direct line when the car insurance is up for renewal.

Other than that, life in Calabria is good - But full of frustrations so BE COOL and let it happen. And, get a good, reliable Italian friend.


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## polenta

Hello, For years I heard nothing but lengthy stories about incompetant Italian bureaucracies, expensive transactions and red tape..... After looking for a year or two, I finally purchased property in Chieti Province. I approachaed the final contract signing with trepidation, expecting to dole out 1000's of Euro's to whomever. That never happened. The entire process, from opening our bank account, to negotiating with the owner to closing our account to transferring US dollars a number of times has been easier than switching my phone and internet service in the US. 
Banks do charge quarterly fees and the gov't also charges a quarterly tax. These are not particularly large but have cost us about Euro150.00. over the past 8 months. That includes charges for at least five checks and some electronic transfers. Sounds burdensome but govt's and banks must make their money somehow and keep in mind the annual real estate tax on our 3/5 hectare property with 20 olives, a bosco and two houses is just Euro 90! Outside Boston, Massachusetts I am paying 5000.00 US a year for the same size house. And our large banks, big risk takers that they are, have disrupted the worldwide banking system with bad management, poor investments and risky schemes. Italian banks are in much better shape. 
Get a translator to help you- they are very inexpensive and will save lots of time and effort. I know of two in Vasto if that would help. David

over the past year. To my


midlandpete said:


> Hi All
> 
> When I was in Puglia in the summer tried to open a bank account and found it impossible
> 
> It was partly my fault as I dont speak Italian (signed up for a course as soon as I came back) and no one seemed to understand my broken italina for open a bank account
> 
> Met and English Business man but he advised that all the banks he had dealt with just ripped him off so he didn't use a bank anymore (a good start) Someone also said that the italian government took money from your account (is it some sort of tax)
> 
> The best advice I could get was to open an account with the post office
> 
> When I tried I hit a brick wall
> 
> So I put my Euro travellers cheques back in my pocket and came home!
> 
> Long term was hoping to move to italy (Abruzzo?) and possible buy a house to retire in but this whole thing has put me off a bit - had heard it was hard work doing things in italy but did not think it was this bad - I can open a bank account by post in England!
> 
> Dont the Italians want to do any business or is it just me not knowing the system
> 
> Long term must do something about this but just dont know what?
> 
> Pete


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## midlandpete

So summing up what people say

You can open a (more expensive) bank account even if you are not resident (Im not at the moment) - this type of account costs about 150E to run per year

You can only open a residents bank account (cheaper to run) if you are resident and have the Codice Fiscale paperwork to show residency.

Pete


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