13 Feb 2025
As Europe has opened the gates for migration, Italy is becoming a popular destination for many Nepalese searching for livelihood abroad. Most migrants have a family to feed back home, so they send remittances regularly. As a Nepalese living in Italy, you probably have to send money from Italy to Nepal all the time. If so, you should consider opening a bank account for your convenience. A bank account will allow you to receive your earnings in Italy pay your bills, and send remittances regularly. Besides, a bank account opens doors for more financial services, including obtaining credit and loans.
Here is a quick and simple guide on how to open a bank account in Italy as a Nepalese migrant:
Follow these simple steps, and you’ll get through the process of opening a bank account in Italy:
If you are 18 and have a valid identity document, you can easily open a bank account in Italy. As a foreigner, you will most likely be asked to declare your residency. Non-residents can only open one type of bank account called “Conto corrente non residente.” Although this type of bank account does not offer the full range of services for the residents, it still proves to be quite helpful for immigrants living in Italy. Nepalese who wish to send money to Nepal from Italy will need a bank account to avoid complications.
Remember that this bank account will let you perform all the basic operations, such as making payments, receiving salary, and making cash withdrawals. However, you may also have to face hurdles, as traditional banks tend to ask for local proof of residence and a fiscal code.
For some nationalities, it is required to get a Municipality registration and upon registration, you will also be able to get an Italian ID card. Municipality registration will allow you to get better fee rates, apply for enrolment in the Italian Healthcare System, convert a foreign driving license into a local license and get special offers for utility bills.
There are several options for you to choose from when it comes to selecting a bank for yourself. There are popular options like UniCredit which is an international giant and then there are local institutions you could opt for as well. The bank should offer services tailored to your needs such as the convenience of online banking, low remittance charges, competitive interest and exchange rates etc.
Always take your time to compare things like account fees and transaction limits so that you can make an informed decision when you finally choose a bank. This is especially crucial since you will need that bank account to manage your finances when you send money from Italy to Nepal.
Before you apply for a bank account, you must ensure eligibility, which basically means meeting Italian banking requirements. Certain documents such as a passport, residence permit, visa, proof of address, and a tax code (Codice Fiscale) are usually required by banks. Newly migrated Nepalese workers must get a Codice Fiscale as soon as they arrive. This is because that code is necessary for any financial activity to be carried out if you’re new in Italy.
Remember that if you have all these documents prepared beforehand, the bank account opening process becomes smoother.
Online banks are convenient for non-residents and they offer relatively lower fees. However, there might be certain restrictions on the sort of financial transactions you can make using that account. A lot of traditional banks in Italy have begun offering something called Home Banking systems to facilitate their customers organising their financial transactions through mobile applications, with limitations on transaction amounts. This makes it easier for Nepalese immigrants who want to send money online from Italy to Nepal on a regular basis.
Opening a bank account in Italy as a non-resident is easy with the advent of online banking. If you do your research before choosing a bank and gather all the documents needed to open a bank account, your goal can be achieved swiftly. You can also explore the trusted online money transfer services of ACE Money Transfer for a quick and safe money transfer from Italy to Nepal.
You’ll need a valid passport, residence permit, proof of address, and a Codice Fiscale (Tax Code).
Yes, some banks offer online applications, but you’ll still need to provide all the required documents.
Yes, many Italian banks offer remittance services, allowing you to send money to Nepal easily.
Yes, the Codice Fiscale is essential as it acts as your tax identification number and is required for financial activities.
Typically, it takes a few days to complete the process after submitting all the necessary documents.
