Opening a bank account in Italy is an essential step for medical students. Upon arrival, medical students may need a bank account for transportation, rent, bills, and also for other expenses. 

There are three options for medical students to open a bank account in Italy:

  • Small regional banks
  • Post office
  • Online banks

These options should be considered with their advantages and limitations. The choice must meet the purpose of individuals.

Required Document for Opening a Bank Account

Generally, medical students have access to open a free bank account with Unicredit. This bank offers deposit, withdraws, and online payments services that are entirely free of charge. Moreover, transactions done by using an ATM are also feeless.  The required documents order to open a Unicredit bank account are:

  • A valid passport as an identity card.
  • Student certificate, which the secretary of the university originally issued.
  • A rent contract in the city where medical students study.
  • Personal Codice Fiscale.

After preparing the documents, medical students can visit any Unicredit bank to open a bank account. Upon creating a new one, a debit card valid in all Europe will be given for transactions, payments, and withdrawal.

One significant fact is that an account in regional banks can be an indicator of a medical student’s financial status. Therefore the amount of money in the bank account and transaction can be seen by a university, and in case of having a large amount of money can prevent medical students from getting a reduction in tuition fees.

Important Points to Pay Attention Before Opening a Bank Account in Italy

  • In Italy, overdraft cheques can cause the banning of individuals from holding and opening a bank account. Therefore, medical students should carefully prepare their cheques if they will be used.
  • Every bank has different transaction fees and exchange rates.
  • Overseas banking should be carefully researched for high interest rates.
  • Online banks generally don’t have a specific ATM; therefore, there will be a withdrawing fee, depending on the bank.
  • Some online banks offer free withdrawal from every ATM.
  • Some regional banks may require a small amount of money on the account.
  • Some online banks also offer an amount of money on the account to send their cards.
  • Different banks offer different debit card options that may have cost but also may have an advantage over.