Opening a bank account in Italy as an American: what to know and what to ask

Why you will want one

• Paying rent and setting up utilities.
• Receiving income or a pension in Italy.
• Services and offices that ask for an Italian IBAN.

What banks commonly ask for

Requirements vary by bank and by branch, but you can expect to be asked for:

• your passport
• your Codice Fiscale
• proof of address: some banks want your residenza, others accept a lease or a host's declaration (dichiarazione di ospitalità)
• for non-EU nationals, your permit or its receipt (permesso di soggiorno)
• proof of income or employment
• an Italian phone number and an email address

Types of provider

• Traditional banks: a branch, usually by appointment.
• Online banks: quicker to open, but they may have stricter requirements for foreigners.
• The post office (Poste Italiane): offers accounts and has a wide network.

Fees and conditions differ and change, so compare them directly with each provider.

Extra steps for Americans

Some banks add steps for US citizens because of US tax-reporting rules (FATCA), such as extra forms about your US tax status. Some are more comfortable with this than others, so ask at the start whether they open accounts for US citizens.

You may also have US reporting obligations on foreign accounts (for example FBAR). Ask a qualified US tax professional; this site does not give tax advice.

Step by step

1. Get your Codice Fiscale first.
2. Shortlist two or three banks and ask each what it needs for someone in your situation.
3. Ask each whether it opens accounts for US citizens, and about any extra forms.
4. Book the appointment and bring your documents and copies.
5. Ask for written confirmation of your account details, including the IBAN.
6. Set up online access and keep a record of your contract.

Common mistakes

• Arriving without a Codice Fiscale.
• Not asking about US citizens up front, then discovering it late.
• Not comparing fees.
• Not keeping proof of rent and utility payments. They help with later paperwork.

Questions to ask the bank

• Do I need a Codice Fiscale, residenza or a permit first?
• Do you open accounts for US citizens, and are there extra forms?
• What are the monthly and transfer costs?
• Can I do everything online, or do I need to come to a branch?

What comes next

With an account you can set up utilities and direct debits. See our first 30 days for the order.