Opening a bank account

The Process:

In order to open a personal bank account in Milan for as a non-Italian citizen or a non-Italian resident, the requirements are:

  • Valid passport
  • Codice Fiscale (Italian Tax number)
  • Anti Money Laundry (AML) Compliance

The process to opening a bank account is usually to go to the bank in Italy in person with your passport and your Codice Fiscale. The bank employee will then check your identity to comply with the Italian regulations against money laundering.

After this the bank employee will ask you to read and sign standard documents for opening a bank account in Italy (which are mainly in Italian). The bank account will then be registered and be ready to be used a few hours after.

Each Italian bank has it’s own formalities, terms and conditions. Most banks in Milan offer services including:¬†on-line banking, cheque books, automatic utility bill payment, debit card and credit card.


Codice Fiscale (Tax Code):

The Codice Fiscale is the Italian tax code. In Italy it is mandatory to have a Codice Fiscale for a number of activities including opening a bank account, buying or inheriting a property, getting an Italian mobile number and renting an apartment. You can apply for a Codice Fiscale for free through an Italian tax office, Agenzia delle Entrate in Italy or an Italian consulate or an Italian Embassy.


Banks in Milan:

There is a large variety of banks in Milan. For information about active banks in Italy, please refer to the Association of Italian Banks (In Italian Only).

Examples of some of the largest banks in Milan include: