Can anyone recommend a bank to open a small account? I would like to have an ATM card with it. I live in Perugia, am a resident here, have all required documents. I am leery of Banca Posta, although I have heard their fees are low. Any other possibilities? Someone told me Monte Pascoli (Sp?) di Siena is good.

Thanks, Caroline

Banca Intesa are marketing heavily low bank charge accounts which have been confirmed ny friends switching.

They also have an English customer service line

We recently opened accounts at both the Post Office and at Monte Dei Paschi di Siena. Our account at the bank is at a very small branch- so far we've only seen 2 people working there and one of them is the manager. The fees aren't too bad. We use the postal account to pay our bills (we live in the U.S.). We will be receiving an ATM card from the Italian bank but will probably continue using our U.S. ATM card, as our U.S. bank reimburses all foreign bank ATM charges. Hope this helps!

Marguerite

It is difficult to recommend a bank as all of them seem to have, at some time, not-so-kosher behaviours.

Bancoposta has very low fees, but they may be not fully compatible with the general bank system and not all the clerks are knowledgeable with financial operations. They are post office clerks trying to act as bank clerks, and it shows.

Several banks are developing low-cost accounts, but often the possibilities included in the packets are limited.

Uusally the best bank is the one where you can develop a personal relationship with a clerk, that will help you with non-routine operations.

Two things are to be watched for: small expenses accumulating (it is better to look for an account where you pay a forfait fee including all operations). And clerks are often forced to sell fixed quotas of financial products. If a clerk proposes you to buy a structured bond, you can be sure that (s)he was asked by his/her boss to sell a quota of such bonds by the end of the month; it may not be the investment for you, but sure it is a good investment for the bank. There are cases where people 80 years old were sold 20 years insurance packets...

The cheapest packages are found usually at online banks; but some times you need a real brick-and-mortar bank (to cash a cheque, for example), and often you need to have an estabilished account with another bank to open an online account (as they cannot verify your identity on person, they need a transfer from an estabilished account in your name).

Thanks for your help, everyone. I think I will try to find a bricks-and-mortar bank, if possible. And I have seen enough of the Post Office clerks here to not want them handling my banking!

One thing before you totally write off PO accounts. Both my kids have accounts there, with ATM cards, electronic debit cards etc. and have been very happy with them. However, they are not at our local PO where the staff is either on traquilizers or downright rude. They opened them at the next town over where I do all my mail stuff, and where the clerks are very helpful, knowledgeable and fast. I also have a savings account there and have never encountered any problems.

I've had no complaints with Fineco.

OH has Intesa and Fineco. The Intesa costs him about 120euro a year where as the Fineco is free and earns interest too. As soon as he gets round to it he will close the Intesa.

Which ever you decide on, do a board search as most of the banks have been discussed before.

I think that if you don't have a regular income some banks can hold back giving you cards, so find out about this before signing on the dotted line.

An ATM card can be usually obtained with an adequate deposit. After all, you cannot spend what you do not have with an ATM card, as it gets blocked if your balance nears zero.

A credit card is a different thing, as you can spend what you do not have. Usually banks require the regular deposit of your monthly wage, or a proof of income.

banca di Roma asked for one of our ATM cards back after our rent had gone out! Seems the balance was okay for 2 cards before and not after! Luckily OH doesn't really need one as he is not here so often. Having said that my card hasn't been blocked even when I have taken the cash right down to 2 euros - before I paid more in that is! Unless you mean you can't get out money you don't have, which, unless you have O/D I would have thought was normal?

quote:

banca di Roma asked for one of our ATM cards back after our rent had gone out!

Can you believe it?

At my previous bank they made me wait months before they would give me an ATM card - I was even paying money in regularly. It got so ridiculous - I had to take a morning off work and go withdraw every time I wanted cash. This also meant I had to withdraw quite a bit every time as I had to have enough cash to take me over to the next time I could have another morning off. So even though they wanted to see more money in there I had to keep it low as I was never sure how or when I could withdraw again. Good grief.