After settling in your new home in Italy and attending a few classes, you realize the need to turn to the essential practices of life. One of the most important of these is opening a student bank account in Italy. Because you need to open a bank account that you can use in daily shopping, monthly rent payments, buying a plane ticket to visit your family or a place, in short, in every aspect of your life. Students can open a student bank account in Italy; it’s possible to perform banking transactions such as deposit, withdrawal, money transfer and EFT.
If students have a scholarship, they can transfer it to this account and shop in markets and cafes through their cards. The only disadvantageous aspect of opening a student bank account in Italy is that the families of non-EU students cannot deposit money into this account. Because the university card is only open to receiving and sending money from EU member states. Transfers and EFTs to normal bank accounts are made within 1 week.
How to Open a Student Bank Account in Italy?
If you are currently a student in Italy, many universities in Italy provide their students with a student debit card free of charge. Students can benefit from all transactions, such as opening a bank account, sending or withdrawing money, free of charge in Italy. Although the names of banks differ, almost all Italian universities have such facilities. For example, at the University of Milan they issue your student card together with the Intesa Sanpaolo debit card. Likewise, with this card, you can perform all your banking transactions free of charge.
Documents Required to Open a Bank Account in Italy
If you want to open a student bank account in Italy, you must first fill out a bank opening request form. You can fill out this form by e-mail, by one of the postal routes or by going directly to the nearest bank branch. Then there are some documents requested by the bank to open an account on your behalf. The documents can be sorted as follows:
- A valid identity document
- Account holder tax code: “Codice Fiscale”
- Proof of address (lease contract or proof of one month payment)
- Proof of residence (visa or residence permit)
For details, you can also review our topic “Residency Permit in Italy” .
You can open a student bank account in Italy by completing these documents, there is no other obstacle in front of you to open an account. A point to be noted here; It is not possible to open a bank account using an online banking service in Italy . In particular, it is not possible for foreigners to open a new bank account with online banking.
Bank Account Management in Italy
With your debit card that you will have after opening your bank account in Italy, you can set the daily withdrawal and loading limits yourself, as well as choose your currency. You can also use internet banking without any problems. Access and control your personal bank account via internet banking; You can pay your bills, send or receive money to your family and friends.
Bank Account Transaction Fees & Commissions in Italy
People who have a bank account in Italy pay a certain amount of commission for the transactions they make with the card they use. This is true almost all over the world. But knowing the fees is always more reliable to trade.
It is always advantageous to use the bank’s own ATM when withdrawing money from a debit card using ATMs. Because different bank ATM transaction fees are charged between 1 and 3 euros. In fact, these fees can go up to 6 euros in cities and districts that attract heavy tourists
Those who wish can use the card of the bank in their own country instead of opening a bank account in Italy. However, in this case, the fees to be incurred may increase even more. The amount collected for each transaction made with a foreign bank account varies between 0.8 and 1.5 euros. International money transfers made with these cards may be subject to highly variable fees.
In Which Languages Can Banking Transactions Be Made?
If you’re preparing to open a student bank account in Italy, you should be prepared for the language difficulties you may encounter. Because although there are English, German and French languages in addition to Italian in the ATMs used to withdraw money, the ATMs used to deposit money only serve in Italian. Over time, you may have to learn the Italian words used in these operations or the order of the operations. In addition, internet banking transactions can only be made in Italian. Online translation programs can be used to perform internet banking transactions.
Banks to Open a Student Bank Account in Italy
Italy is a country with small national banks as well as large international banks. Citizens and foreign people living in the country have many options to open a bank account. Likewise, these options are also valid for students who want to open a student bank account in Italy . Some of the most popular banks in the country can be listed as follows:
- Deutsche Bank Italy
- BNP Paribas BNL D’Italia
- Intesa San Paolo
Pava Education provides professional consultancy services for students who want to study in Italy . If you want to receive a quality service from Pava Education, which provides the support its customers need throughout the whole process with its expert education consultants, you can fill out our application form immediately. Our expert education consultants will contact you as soon as possible .