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Banking & Money Transfer

Complete guide to banking in Italy and sending money home safely

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How to Open a Bank Account in Italy

Opening a bank account is a key step to managing your finances in Italy. While it may seem complicated, having all your documents in order makes the process straightforward. Most major Italian banks have branches in Monfalcone.

Required Documents (Non-Negotiable)

  • Valid passport with a valid residence permit (**Permesso di Soggiorno**)
  • **Codice Fiscale** (Italian tax code) - absolutely essential!
  • Proof of address, such as a utility bill or rental contract
  • Employment contract or proof of income (if applicable)

Step-by-Step Process

1
Choose Your Bank

Research banks in Monfalcone. UniCredit, Intesa Sanpaolo, and BNL are popular choices with a strong presence.

2
Book an Appointment

Most banks require you to book an appointment with a bank advisor. You can do this by phone or by visiting the branch in person.

3
Complete the Application

Bring all required documents to your appointment. The bank advisor will guide you through the application forms and explain the different account options. Be prepared to make an initial deposit, which can range from €50-200.

Key Italian Banking Terms

IBAN

The **International Bank Account Number**. This is a long string of letters and numbers that uniquely identifies your bank account for international and domestic transfers. You will need this for getting paid and sending money.

SWIFT / BIC

The **Bank Identifier Code**. This is a shorter code (typically 8-11 characters) used to identify a specific bank in international transfers. You may need this for receiving money from outside of Europe.

Poste Italiane

The Italian Post Office. In Italy, the post office provides a wide range of financial services, including bank accounts and money transfers, and is a very common alternative to a traditional bank.

Send Money Home: Best Online Options

Online transfer services are often cheaper and faster than traditional bank transfers. **Use our recommended service for the best exchange rate.**

Wise

TOP PICK

Best for low fees and real exchange rates. Transfers are fast and transparent.

Go to Wise & Start Transfer

Remitly

Specializes in fast transfers to South Asia, Africa, and Latin America. Offers various delivery options.

Go to Remitly

Western Union

Offers a huge global network and is ideal for cash pickups. Slower and more expensive than online-only services.

Go to Western Union

Cash vs. Card & Other Tips

  • While many places accept cards, **cash is still king** at smaller shops, markets, and for tipping. Always carry some cash with you.
  • Always compare exchange rates before sending money. The advertised fee is not always the full cost.
  • Keep your **Codice Fiscale** handy as you'll need it for almost all major transactions (banking, SIM cards, jobs).
  • Set up your bank's online banking and mobile app as soon as possible for easy account management.

Affiliate Disclaimer:

This page contains affiliate links for services like **Wise**. If you click on one of these links and make a purchase or sign up, we may earn a small commission at **no extra cost to you**. We only recommend products and services we believe are helpful and of high quality for new arrivals in Monfalcone.