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Emergency Cash in Italy
Transferring money to Italy can cost you money if you do not plan your money transfer to Italy. Many banks have reciprocal arrangements with banks in Italy through which transfers are likely to prove less expensive, check with your bank before travelling. Any transfer of cash or securities to and from another country exceeding €12,500, whether by a resident or non-resident, has to be declared to the Italian Exchange Controls Office, the UIC (Ufficio Italiano dei Cambi). This operation is an expensive way to send and receive money abroad and can, in some cases take weeks not hours; it should be considered only as a last resort.
It's best to open an Italian bank account in person, rather than from abroad. Ask your friends, neighbours or colleagues for their recommendations and just go along to the bank of your choice and introduce yourself. You must be aged at least 18 and provide proof of identity, e.g. a passport, and your address in Italy (a utility bill usually suffices). Before choosing a bank, it’s wise to compare the fees charged for international money transfers and other services, which can be high.
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« Costs, Money And Banks in Italy
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