Foreigners will need to open a bank account if they're staying in Italy for a significant period of time. However it isn't that easy. Most banks will only allow foreigners to open an account with them if they have a certificato di residenza.

It might make life a bit easier if you were to approach an Italian bank with offices, filiali, in the UK like Banca Intesa San Paolo, Unicredit Banca di Roma, or Barclays Italia. The UK office will then be able to liaise with a local branch of your choice in Italy.

To open an account you may be asked to provide the following documents:

Information for UK residents in Italy receiving UK pensions

Please read the following new Italian banking regulations which came into force on 30 April 2008.  If you have problems receiving your UK pension it would be advisable to contact the Pensions Service direct, giving them your full bank details in order to receive a bank transfer rather than a cheque.

30 April 2008: New rules on cheques, cash and bearer savings books

On 30 April 2008 major new rules go into effect governing the use of cheques, cash and bearer passbook savings accounts. The purpose is to increase the transparency of transactions and to enhance the protection of the persons using these instruments. The changes derive from the provisions of Legislative Decree 231/2007 designed to combat the laundering of the proceeds of crime and the financing of terrorism. Knowledge of the new rules is essential to comply with them and avoid the sanctions for violators.

For cheques, the most significant innovation is that now as a rule cheque forms issued to customers by banks and Poste Italiane S.p. A.will carry the "non-transferable" clause. Cheque forms lacking this clause can be issued only at the written request of the customer; and in this case, a stamp tax of €1.50 must be paid for each cheque. Endorsements must always specify the tax number of the endorser; if this is not done, the cheque cannot be paid. In any case, for all cheques of €5,000 or more, it is obligatory to specify the beneficiary and to include the non-transferability provision. Cheques to the order of the writer (e.g., made out to self or "me medesimo") are not negotiable; they can only be endorsed for cashing at a bank or at Poste Italiane S.p.A.

Source: Bank of Italy.

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