Yes, you can open a bank account in Italy, but the process depends on whether you live there

You can open a bank account in Italy as a foreigner, but the rules and documents you need change based on your residency status. If you are a resident of Italy — meaning you have a valid residency permit or are an EU citizen with proof of residence — most banks will open an account for you. If you are not a resident, your options narrow: some banks will open accounts for non-residents, but they often require higher minimum balances, charge more in fees, or limit the services available to you.

The Italian banking system is regulated by the Bank of Italy (Banca d'Italia) and the Financial Conduct Authority (Autorità di Vigilanza delle Comunicazioni). Banks must follow strict anti-money-laundering rules, which is why they ask for so much documentation. The process typically takes one to three weeks from the day you submit all required documents.

Key Takeaways

  • Residents of Italy can open a bank account at most banks; non-residents face restrictions and higher costs at many institutions.
  • You will need a valid passport or ID card, proof of address in Italy, and a tax identification number (codice fiscale) to open an account as a resident.
  • EU citizens can use their residency registration as proof of address; non-EU citizens typically need a rental contract or utility bill in their name.
  • Some banks offer accounts specifically for expats or non-residents, though these often come with higher minimum deposits and annual fees.
  • The codice fiscale is essential and can take two to four weeks to obtain if you do not already have one.

What documents you need as a resident

If you live in Italy, bring a valid passport or national ID card, proof of your address, and your codice fiscale (Italian tax identification number). The proof of address can be a rental contract, a utility bill (gas, electricity, or water) dated within the last three months, or a residency registration certificate from your municipality (certificato di residenza). Banks will not accept a lease that has not been registered with the tax authority, so if you are renting, make sure your landlord has filed the contract.

You will also need to provide information about your income and employment status. Bring a recent payslip, a letter from your employer, or documentation of self-employment income if you work. If you are retired or a student, bring proof of that status instead. Banks are required to verify the source of funds you plan to deposit, so be prepared to explain where your money comes from.

Some banks ask for a reference from another bank where you hold an account, though this is becoming less common. If you are opening your first account in Italy and have no Italian bank history, simply tell the bank this when you apply.

How to get a codice fiscale before opening an account

The codice fiscale is a 16-character tax identification number that every person living or working in Italy must have. You cannot open a bank account without one. If you are an EU citizen, you can obtain it at the Agenzia delle Entrate (Revenue Agency) office in your city. Bring your passport and proof of address. If you are a non-EU citizen, you must apply through the immigration office (Questura) or the municipality where you live, depending on your residency permit type.

The process usually takes two to four weeks. Some municipalities are faster; others slower. You can check the status of your application online through the Agenzia delle Entrate website if you have an Italian email address and digital identity (SPID). Once you receive your codice fiscale, it is permanent and does not expire.

Opening an account as a non-resident

If you do not live in Italy but want an Italian bank account, your options are limited. Most traditional Italian banks will not open accounts for non-residents because of anti-money-laundering regulations and the cost of verifying your identity from abroad. However, some banks do offer non-resident accounts, and online banks operating in Italy may be more flexible.

Non-resident accounts typically require a higher minimum deposit — often €5,000 to €10,000 or more — and charge higher annual fees. You will need to provide your passport, proof of address in your home country, and documentation of your income. Some banks require you to visit a branch in person; others allow you to open the account remotely by video call or by mailing documents.

If you are planning to move to Italy soon, it may be faster to wait until you have your residency permit and proof of address, then open a standard resident account. The process will be simpler and the fees lower.

Which banks accept non-residents and expats

Intesa Sanpaolo, UniCredit, and Banco BPM are the three largest banks in Italy. All three have branches nationwide, but their policies on non-resident accounts vary by branch and change over time. Call ahead or visit a branch to ask whether they will open an account for you. Some branches are more willing than others, especially in cities with large expat populations like Milan, Rome, and Florence.

Online banks such as Revolut, Wise, and N26 operate in Italy and may be easier to open if you are a non-resident, though these are not traditional Italian banks and do not offer all the services a bank account provides. They are useful for transfers and spending abroad but may not work for setting up Italian utilities or paying Italian taxes.

Some banks market accounts specifically to expats or foreign workers. Banca Mediolanum and Widiba (a subsidiary of Banca Monte dei Paschi) have offered expat-friendly accounts in the past, though terms change. Search online for "conto corrente per stranieri" (bank account for foreigners) or "conto corrente per non residenti" (account for non-residents) to find current options.

What happens after you open the account

Once your account is approved, the bank will issue you a debit card, a checkbook (if you request one), and online banking credentials. You will receive a username and password to access your account online and through the bank's mobile app. Some banks require you to set up two-factor authentication using your phone number or an authenticator app.

Your account will have an IBAN (International Bank Account Number) that starts with IT. You will need this IBAN to receive transfers from abroad, to set up direct debits for utilities or rent, and to pay taxes. Write it down and keep it safe.

If you are moving to Italy from another country, you can transfer money to your new Italian account from your home bank. International transfers usually take three to five business days and may incur a fee from both your home bank and your Italian bank. Ask your Italian bank what their incoming transfer fee is before you send money.

Common reasons banks reject applications

Banks will reject your application if your documents are incomplete, expired, or do not match the information you provided on the application form. Make sure your passport is valid for at least six months, your proof of address is dated within the last three months, and your name is spelled the same way on all documents.

Banks may also reject you if they cannot verify your identity or the source of your funds. If you have a criminal record, a history of fraud, or if your name appears on international sanctions lists, you will be rejected. If your application is rejected, the bank must tell you why, though they may not provide detailed reasons if it is a security or compliance issue.

If you are rejected by one bank, try another. Different banks have different risk tolerances and different policies on non-residents. Rejection by one bank does not mean you cannot open an account elsewhere.

Frequently Asked Questions

Do I need to be a resident of Italy to open a bank account?

No, but non-residents face more restrictions. Most banks will only open accounts for residents because of anti-money-laundering rules. Some banks do offer non-resident accounts, but they usually require higher minimum deposits and charge higher fees. If you are moving to Italy, it is easier to wait until you have your residency permit and proof of address.

How long does it take to open a bank account in Italy?

Once you have submitted all required documents, approval usually takes one to three weeks. The time varies by bank and by how quickly you provide any additional information the bank requests. If you are missing documents like your codice fiscale, the process will take longer because you must obtain that first.

Can I open a bank account in Italy online without visiting a branch?

Some banks allow you to open an account online by video call or by mailing documents, especially if you are a resident with a codice fiscale. Non-residents are less likely to be able to open accounts remotely. Online banks like Revolut and Wise may be easier to open online, but they are not traditional Italian banks and do not offer all banking services.

What is the minimum deposit required to open a bank account in Italy?

For residents, most banks do not require a minimum deposit to open a basic current account. For non-residents, minimum deposits typically range from €5,000 to €10,000, depending on the bank. Some banks may waive the minimum if you set up a regular monthly transfer or direct deposit into the account.

Can I use an address outside Italy to open a bank account?

No. Banks require proof of address in Italy. If you are a non-resident, you will need to provide an address in your home country, but the bank will not open an account for you unless you can show an Italian address or a plan to establish one soon. Once you have a rental contract or residency registration, you can update your address with the bank.