How to open a bank account in Italy as a UK non-resident?

Italy is a beautiful country with a range of unique regions, all of which have something different to offer visitors and expats.

Whether you’re moving to Italy for wine, Mediterranean coastline, the bustling fashion industry, to enjoy delicious pasta or anything in between, it won’t be hard to find a place that’s right for you.

If you’re planning on moving to Italy, one of the first things you’ll need is a local bank account. But how easy is it to open a bank account in Italy?

Read on for everything you need to know, including what documents you’ll need and some tips on the best Italian bank accounts for expats.

We’ll also show you a smart alternative to a bank account from the money services provider Wise - the Wise account. It lets you manage your money in 40+ currencies in Italy, the UK and worldwide.

Moving to Italy and want to take your savings with you? With Wise, you can send secure and trackable large amount transfers to Italy and 160+ countries worldwide for low fees* and mid-market exchange rates.

Learn more about the Wise account 💰

Table of contents

How to open an Italian bank account as a non-resident? Do you need a bank account in Italy? Can you use your UK bank account in Italy? Can you open a bank account in Italy as a British expat? Can you open an Italian bank account online as an expat from the UK? Can you open an account as an international student? What documents do you need to open a bank account in Italy? Proof of ID Proof of address Tax number Proof of employment Best Italy bank accounts for expats Intesa Sanpaolo UniCredit Poste Italiane Banco Nazionale del Lavoro (BNL) ING Italia Other banks and money management alternatives worth looking into What are the banking fees and costs in Italy? Is there a free Italian bank account for non-residents? Wise – An international alternative to a bank account

How to open an Italian bank account as a non-resident?

The majority of banks in Italy will ask for proof of residence or a local address when you apply for a bank account.

However, some banks in Italy do offer non-resident account options - these may be handy if you’re not in Italy full time. The account type to watch out for is conto corrente non residenti - often available through specialist banks which support cross border commuters.

Civibank, for example, is one bank which has non-resident account options,¹ which targets accounts at people commuting between north-east Italy and the Balkans, with services in Slovevnian, Croatian and Serbian to meet customer needs.

Do you need a bank account in Italy?

It’s not absolutely essential to have a local bank account in order to move to Italy, and there aren’t any rules or laws which say you have to have one.

It may be possible you can get along without one for a time, especially if you can take advantage of multi-currency solutions such as the Wise account to send, spend and receive money in Italy and between countries.

But opening some kind of local or international current account will be a smart move in the long run.

Everyday expenses such as rent and bills will be more difficult to set up without an Italian bank account, as will getting paid if you’re working and any transactions relating to buying and selling property in Italy.

📚 Read more: How to transfer large amounts of money from the UK?

Can you use your UK bank account in Italy?

You might be tempted to keep using your UK bank account when you move abroad. After all, it’s much easier than dealing with foreign banks and waiting for a new account to be set up.

But is it actually possible to use a UK account in Italy?

The answer to this is likely to be no, although it will depend on who you bank with back in the UK.

Some UK banks such as Barclays only let you keep your account open when living abroad under very specific circumstances. For example, if you’re a UK Crown employee or are planning to live abroad for less than 6 months before returning to the UK.²

Other banks such as Spanish-owned international bank Santander say they will continue to service accounts when the holder moves abroad.³

So if you already have a Santander account, you should in theory be able to continue using it once you’ve moved abroad. You won’t be able to open a new one though, as these are only available to permanent UK residents.

Santander does operate in Italy too, so you might be able to access branch services and ATMs.

One obstacle you may face though is the currency. If you’re using a UK bank account, it’ll likely be denominated in GBP. You’ll be spending in euros (EUR) while in Italy, so you could lose out when it comes to currency exchange.

So all things considered, it could be a smart move to open a local account once you arrive in Italy - just to make life easier for yourself.

📚 Read more: Is it better to use cash or card in Italy?

Can you open a bank account in Italy as a British expat?

You shouldn’t experience any problems opening a bank account in Italy as a foreign national.

Whatever reason you’re moving to Italy, whether it’s to retire, work, study, get married or start a business, you should be able to open an account at most banks as long as you have the right paperwork.

The only issue you might encounter is that not all banks will have English-speaking staff, if you do decide to apply in branch. You’re likely to have better luck at major and international banks, rather than smaller or regional ones.

Can you open an Italian bank account online as an expat from the UK?

Yes, many banks in Italy offer the option to open a current account online. If you have the right documents, you should be able to complete the application process online or in the bank’s mobile app - providing your signature electronically.

You’ll just need to check whether you’re eligible for online account opening as a foreign expat. It’s likely that Italian residency, proof of a local address and an Italian tax number will be key requirements,⁴ so you might not be able to apply online while living outside the country.

Can you open an account as an international student?

Student accounts can be opened at many Italian banks, with account products aimed at under 18s, and those in further education.

There are also often preferential terms for people under the age of around 30, with waived fees and lower transaction costs - whether you’re a student or not.

📚 Read more: Best debit card to use abroad: Top 6 UK picks

What documents do you need to open a bank account in Italy?

The documents required to open a bank account in Italy will vary between banks, but generally you’ll need:⁴

• Proof of ID
• Proof of Italian address
• _Codice fiscale _(tax number)
• Proof of employment (or student status, depending on the account you select)

Proof of ID

To verify your identity, you’ll need to provide your valid passport or another form of acceptable photo ID like a National Identity card.

Proof of address

You’ll need to provide proof of an address in Italy, such as recent utility bills or a rental contract. You may also be asked for proof of your residence status, such as your visa or work permit.

Tax number

This is your _Codice fiscale, _or Italian tax number. It acts as a form of identification for government departments, as well as services such as banks and utility companies. You can apply for one at your local municipality’s immigration desk (Sportello Unico per l’Immigrazione).

Proof of employment

If you’re working, you might need to provide payslips, your work contract or a letter from your employer as proof of employment/income. If you’re applying for a student account, you’ll need to provide proof of your student status.

Best Italy bank accounts for expats

There’s no single best bank in Italy for foreigners - but you’ll probably want to pick one of the major banks for your account, so you’ve got a good range of branch locations and ATMs. You may also find it easier to locate an English speaking member of bank staff if you’re using one of the larger banking groups.

Here’s a list of the most expat-friendly banks in Italy to check out:

• Intesa Sanpaolo
• UniCredit
• Poste Italiane
• Banco Nazionale del Lavoro (BNL)
• ING Italia

Let’s take a closer look at each one.

Intesa Sanpaolo

Intesa Sanpaolo is one of the country’s largest Italian banks. It has an extensive branch network throughout the whole country, and an international presence too.

Intesa Sanpaolo offers a wide range of current and savings accounts, along with credit cards, mortgages and insurance products.

For everyday banking, you can choose between a Basic Bank Account to meet your everyday needs, or the XME Account which comes with extra features.

UniCredit

UniCredit, part of the Italian-owned UniCredit financial group, is another big name in the Italian banking market. It offers a range of current accounts and savings products.

One option to check out as a new arrival is the Conto Corrente Genius (Genius Account). It offers everything you need for everyday use, including a debit card and online/mobile banking.

Poste Italiane

The Italian postal service also provides popular banking services. This includes current accounts, credit cards, savings, insurance and pensions products.

If you open its BancoPosta account, you get the flexibility of choosing from five different account types to suit your needs. These are:

• Start Youth (for the under 30s)
• Start
• Medium
• Plus
• Premium.

With all options, you can also manage your money however you like - at the post office, at an ATM, using online banking or the BancoPosta app.

Banco Nazionale del Lavoro (BNL)

Another bank with a strong presence on the Italian high street is Banco Nazionale del Lavoro (BNL). It’s owned by the French financial services group BNP Paribas.

Among its range of current and savings account packages is the Account BNL X MODULO SMART, an online solution which you can customise with the products and services you need.

And if you’re thinking of starting a business in Italy, it’s useful to know that BNL is one of many major banks which offers business bank accounts and services.

ING Italia

ING Italia is part of the Dutch owned banking group ING Group, and offers a full range of financial products in Italy. This includes current accounts, savings and investment products, mortgages and insurance options.

The bank’s Orange Account has zero fees if you pay in your salary, along with a free debit card and free withdrawals in Italy and Europe.⁵

Other banks and money management alternatives worth looking into

Along with traditional banks, you can choose to bank online in Italy. Online only options include:

• Fineco Bank – a popular online banking specialist (and registered bank), offering digital tools and a mobile app.
• Revolut – the app-based Revolut (which has a European banking licence) offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.

You can also check out other non-bank alternatives, which don’t have a banking licence but offer services such as accounts, payments and cards.

This includes the money services provider Wise, which has a multi-currency account, international debit card, transfer services and app available to use in Italy.

📚 Read more: Best online bank accounts in the UK

What are the banking fees and costs in Italy?

Bank accounts and banking services in Italy do come with some fees. This includes fees for transfers and monthly charges for maintaining the account.

These will vary between different banks, so you should always check the small print before signing up for an account.

But here’s an idea at what kinds of fees to expect:

Transaction/fee type	Typical fee
Current account - monthly fee	€0⁵ to €10⁶ EUR a month (some banks waive /reduce the fee if you meet certain conditions, such as paying in a salary)
ATM cash withdrawal	Usually free at your own bank’s ATM
Getting a debit card	Usually free
Domestic payments (i.e. within Italy)	Usually free
International payments (i.e. to the UK from Italy)	SEPA payments (EUR payments within EEA) often free Around €10 EUR for other transfers, but varies depending on speed, destination and payment type)⁷

📚 Read more: The best UK banks for sending money abroad

Is there a free Italian bank account for non-residents?

Most bank accounts in Italy come with monthly fees, although there are some free ones out there. You might find though that you end up paying extra costs for withdrawals and certain other transactions.

It’s common for student accounts to have low to no fees, and many Italian current accounts waive or reduce monthly fees if you meet certain conditions like paying in your salary each month.

As we’ve mentioned though, you may find it difficult to open any of these accounts without being an official Italian resident.

Wise – An international alternative to a bank account

Need to manage your money in multiple currencies or send transfers back home to the UK? There are alternatives to using a bank, such as Wise.

Open a Wise account and you’ll only pay a small, transparent fee* to send money in 40+ currencies (including EUR and GBP). Better still, you’ll get the mid-market exchange rate for every foreign currency transaction and your transfers are always secured and trackable.

Here are the main benefits for using Wise:
Fast and easy setup with no physical paperwork Low, upfront, transparent fees Fully trackable transfers Fast transfer times Two-factor authentication and real-time notifications Dedicated support for large transfers

You can also get a Wise card for a one-time fee of just £7 and use it to spend like a local in Italy and 150+ countries worldwide. There are no hidden fees*, and you can even connect your Wise card to Google Pay or Apple Pay.

Importantly, you can open a Wise account in advance of your move to Italy. This means you’re not left without a payment method while you’re waiting for your new bank account to be opened.

Sign up with Wise today 💰

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Sources used:

1. Civibank - Foreign Services
2. Barclays - Living or moving outside the UK
3. Santander - Brexit and Santander UK plc
4. Expatica - How to open an Italian bank account
5. ING - Account Current Orange
6. Posteitalian - Account BankPosta
7. ING Italia - Information Sheet

Sources last checked on date: 02-Aug-2024