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PostPosted: October 17th, 2010, 8:59 pm 
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Joined: May 9th, 2009, 9:38 am
Posts: 43
Location: Bath/Gioiosa Ionica
We opened our Monte Paschi dei Siena Bank Account about 18 months ago, in anticipation of our property being completed. Property completion is currently running 18months over (but showing signs of being ready soon!).

However, in these 18 months we seem to have spent loads of money just keeping the account opened and in credit. The bank charges, just for having the account let alone actually using it, seem pretty expensive. I think we've put in about 300-400 Euro without actually spending any of the money it just seems to be eaten up in various charges. I know Euro bank accounts usually charge fees (unlike in the UK) but I just wondered if anyone felt they were getting a good deal.

Also, we don't have internet access with our MPS account (which would be really handy seeing as they only send statements every 3 or so months, by when we're already overdrawn!!).

Anybody recommend a good bank. Especially one that's easy to open the account. Ours took 3 hours, face to face, using on line translation!

Cheers!
Chrissie


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PostPosted: October 18th, 2010, 7:29 am 
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Joined: March 20th, 2009, 8:32 pm
Posts: 166
Post Office a/c
for info & advice email us
halemunns@hotmail.co.uk
john & sue


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PostPosted: October 18th, 2010, 7:58 am 
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Joined: December 19th, 2007, 6:48 pm
Posts: 128
Location: San Lucido
Totally agree, the Post Ofice is the cheapest account (around €39 for the year), you can have internet access & withdraw up to €600 per day at the bancomat. They are now allowing non residents to open accounts.

We have our business & personal account with them.

Sue & Pete


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PostPosted: October 18th, 2010, 9:35 am 
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Sue and Pete

Are there taxes on top of this sum?

Lorica


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PostPosted: November 1st, 2010, 12:58 pm 
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Joined: March 20th, 2009, 8:32 pm
Posts: 166
Hi all
Thanks for your PM 's and emails
THE P.O account still is the best way to go even if you are a resident or not, for details and advice on this or any thing else you think we (john & sue) can help you on email halemunns@hotmail.co.uk it will save you time, hassle, and money.
check out Bergamotto postings


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PostPosted: November 1st, 2010, 3:19 pm 
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Joined: May 1st, 2008, 11:15 am
Posts: 491
Are there any charges for opening a PO account and what taxes ((or other expenses) are on top of the €39 a year?

Thanks
Lorica


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PostPosted: November 1st, 2010, 7:14 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
I've been wondering about taxes and other charges also. Barclays progressive account is 3 euros and dynamic a/c is 9 euros per month. I presume the taxes are a % of the amount lodged so it's better not to keep any more money in the account than is needed to pay utilities etc, is that correct? (However I was charged 6 euros before I even lodged a penny).


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PostPosted: November 1st, 2010, 7:21 pm 
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Joined: July 12th, 2009, 9:47 pm
Posts: 45
Hi Evie, do you know what the difference is between the two accounts please?....Barclays have only told us about the one costing 9 euros and do not reply when I ask for details of the 3 euros account!


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PostPosted: November 1st, 2010, 7:39 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
wwheels, they give you the 9 euro a/c unless you ask otherwise. I was told "there is a progressive account at 3 euros per month, with debit card, internet banking and direct debit. With dynamic current account you have the opportunity to create an accumulation plan, in order to save a regular amount (monthly or bimonthly ...your choice), and you can also have a securities portfolio free. We usually recommend dynamic account to non resident for its flexibility". I decided that the progressive 3 euro a/c was find for me. (However my dynamic application was underway before I changed to progressive and my bank statement for what I thought was progressive is 9 euros so there's some confusion!)


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PostPosted: November 1st, 2010, 10:43 pm 
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Joined: August 7th, 2009, 2:31 pm
Posts: 290
Once they opened the expensive dynamic account for me they refused to give me the cheaper progressive account saying non residents could not have one -which I know is a lie -They just block any attempts I make to open the cheaper one -so frustrating .I really do resent paying them the 37 euro -every 3 months for just paying an electric bill -That is all I use it for - but they win by frustrating their clients.


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PostPosted: November 2nd, 2010, 9:51 am 
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Pamela

I know someone who has changed to the cheaper (Proggresive) account so I suggest you keep on to Barclays.

Lorica


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PostPosted: November 2nd, 2010, 1:09 pm 
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Posts: 290
Thanks Lorica -when I find the energy I will try.


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PostPosted: November 2nd, 2010, 1:16 pm 
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Joined: August 6th, 2007, 12:54 am
Posts: 100
Hi Pamela
Margaret, your neighbour from Amalfi here. I as yet do not have a bank account in Italy. I pay my electricity bill using my credit card and only get a charge of about £1.50 for doing so. When we connected to electric last year , paperwork was sent to my home address and I filled in my credit card details for payment. It has been great.
Margaret


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PostPosted: November 2nd, 2010, 6:31 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
I have now confirmed that I do have the cheaper progressive account at 3 euros per month (the charges are made every 3 months which is why I thought I had the 9 euro dynamic account). The taxes are 8.55 euros per 3 months, presumably irresepctive of how much money is in the account. This means 3+2.85 = 5.85 euros per month.
Pamela, my contact is Nicorelli at MariaGiulia.Nicorelli@barclays.it and I find her very helpful.


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PostPosted: November 3rd, 2010, 6:24 pm 
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Joined: August 7th, 2009, 2:31 pm
Posts: 290
Hi Margaret
Thanks -I am surprised you can pay by credit card I tried and they wouldn't accept it unless the card originated in italy
Dear Evie thanks I will try the new contact
Pamela


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PostPosted: November 3rd, 2010, 7:01 pm 
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Joined: June 5th, 2007, 4:36 pm
Posts: 1105
Location: Italy
The non-resident accounts are really expensive.

We used to recommend BCC (Credito Cooperativo), a regular account, but for some reason they cannot open accounts anymore to non-residents. I understand it has something to do with the burden of proof for the bank against money laundering, tax evasion etc.

Has everybody had a good experience with the post office - can you just walk in and open an account?


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PostPosted: November 3rd, 2010, 10:24 pm 
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Joined: November 5th, 2007, 10:38 pm
Posts: 124
Location: South London
We opened our account with Barclays Milan early in September. Despite numerous emails and phone calls to Italy, which are expensive, during normal business hours, we are still waiting for our cheque book, pin numbers, and debit cards.
Each time we try and speak to them we are left holding on for several minutes before our advisor comes to the phone. We're then given numerous excuses, apologies and a promise that the hold up will be investigated. Each promise has failed and we are still waiting.......
Other Brits who live nearby have told me that the post office have relaxed their rules on non-residents opening accounts and we intend to move our account from Barclays to the post office as soon as we can. Barclays don't deserve the extra business they are getting from so many Brits who are buying in Italy.


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PostPosted: November 4th, 2010, 9:55 am 
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Joined: March 20th, 2009, 8:32 pm
Posts: 166
Hi all
The P/O account is the way to go,
it is open to residents & non residents
check out my post's on Bergamotto
also the post from yakamoz & others,
So far the service is very good
ATN cash card came through quick,you can take out upto €600
@ a time, or visit P/O and take out what you want, as long as you have enough funds in there :)
Also pay your utility bills by D/D
The set up is €39 plus a deposit there are other fees and charges but still the lowest to be found in Italy :D


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PostPosted: November 4th, 2010, 10:23 am 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
But do you have to go in person to the post office to open the account?


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PostPosted: November 9th, 2010, 9:43 pm 
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Joined: March 20th, 2009, 8:32 pm
Posts: 166
Hi eviegardner,
i am still doing research to see if you can open an Italian P.O account online.
Any one out there who can help with the answer to this, please post it on this forum,
I have now had enquiries from many parts of the globe,
regarding the best choice Bank or P.O accounts
in my opiniun it's the P.O
it would seem that Italy is fast becoming a more desirable
place to invest / retire,


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 Post subject: POST OFFICE -vs- BANKS
PostPosted: November 9th, 2010, 10:09 pm 
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Joined: November 5th, 2007, 10:38 pm
Posts: 124
Location: South London
Barclays are the biggest joke going. We opened a joint account but were only entitled to 1 debit card under the terms of the progressive account!! I was told by them that even though the debit card was not in my name I could still use it?? I deem that as fraudulent!! The post office option is one worth exploring


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PostPosted: November 17th, 2010, 6:37 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
I didn't realise until I read on the forum that you can open a UK euro account which I've now done with Barclays. However they charge £15-40 (depending on the urgency) each time to transfer from my UK to my Italian account so it's probably not worth having! Also has to be done by phone and not online.


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PostPosted: December 2nd, 2010, 1:49 pm 
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Joined: March 20th, 2009, 8:32 pm
Posts: 166
Hi eviegardner
Just spoken to the staff & the Roccella post office,
they say you need to go in person to open an account,

If you are able to buy euros in advance, to then send to your P.O a/c i have found a company called Moneycorp, very good
and very quick, they also give a great exchange rate,
Also if you think the £ will go up against the € you can instruct them to buy @ an agreed rate, they can also hold these funds until you are ready to transfer them,
If you need any help or advice email us John & Sue
halemunns@hotmail.co.uk


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PostPosted: December 2nd, 2010, 3:31 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 454
Location: N Ireland
John/Sue, thanks. I already use Moneycorp who charge £15 so I'll probably still use them to transfer euros in to my Barclays Italian account. Setting up the euro account in UK probably wasn't worth doing but I have it just in case.


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PostPosted: December 2nd, 2010, 5:50 pm 
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Joined: May 1st, 2008, 11:15 am
Posts: 491
Check out 'Smart Currency' who offer a very good competative service.

Lorica


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PostPosted: January 11th, 2011, 1:30 pm 
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Joined: July 31st, 2010, 5:21 pm
Posts: 24
Hi all

Do we pay for the account (current) even if we have not completed on the property as yet?

We have just received an email saying that we owe some money however did not know it had been arranged as yet


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PostPosted: January 11th, 2011, 5:42 pm 
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Joined: May 1st, 2008, 11:15 am
Posts: 491
Hi Andrea

If you are talking about a bank account a property completion date doesn't come in to it. You will start paying bank charges from the day your account was opened.
is your account a Barclays account?

Lorica


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PostPosted: January 11th, 2011, 8:57 pm 
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Joined: July 31st, 2010, 5:21 pm
Posts: 24
Thanks Lorico

I read your early post and contacted Barclays today as they have set us up on the Dynamic account. I then asked to change to the Progressive account (think that is what it is called) and was advised like others that this is not open to non uk residents.


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PostPosted: January 11th, 2011, 8:57 pm 
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Joined: July 31st, 2010, 5:21 pm
Posts: 24
Thanks Lorico

I read your early post and contacted Barclays today as they have set us up on the Dynamic account. I then asked to change to the Progressive account (think that is what it is called) and was advised like others that this is not open to non uk residents.


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PostPosted: January 12th, 2011, 9:08 am 
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Joined: May 1st, 2008, 11:15 am
Posts: 491
Hi Andrea

The Progressive account is open to non residents I know many people who have this account. You have put in your post above 'non UK residents .... where are you from? I would ask Barclays again! lorica


Progressive Barclays account.
Something more for the thirsty
convenience.


The characteristics of the Progressive Income B.


B. Progressive Income is a product designed to meet the need for a functional account at low cost.

B. Progressive Account with only 3 Euros per month, gives you access to the operational bank in a convenient, rapid and transparent.


1 Debit Card International PagoBANCOMAT CIRRUS - MAESTRO

1 Premium Credit Card Barclays

Using the telephone service Phone Banking

Using the Online Banking service

Accreditation salary, utility bills and regular payments

Checkbook





Main economic conditions
Current Account
Monthly fee € 3
Operation via Internet included
Production / Send notices via e-mail € 2
Clearance RID / Utilities included
Credit rate 0.50%

1 Debit Card / PagoBANCOMAT CIRRUS - MAESTRO
Withdrawals at Barclays Bank Italy included
Withdrawals included in Italy to be used at ATMs of other
institutions or at ATMs displaying the logo of the Euro
Cirrus-Maestro 50 year
Further withdrawals at ATM € 2

1 Premium Credit Card Barclays
Annual fee Credit Card € 0





l


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PostPosted: January 12th, 2011, 10:14 am 
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Joined: March 25th, 2009, 1:13 pm
Posts: 39
Can anyone tell me if I can open a progressive account with Barclays from a UK branch of Barclays or can I only do this in Italy?
Thanks
Gailmore


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PostPosted: January 12th, 2011, 1:02 pm 
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Joined: May 1st, 2008, 11:15 am
Posts: 491
Gailmore

Yes you can open a Barclays Italian Bank account through a barclays UK branch. The papers have to be sent from Italy via fax for you to sign infront of an official at a UK branch.

Lorica


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PostPosted: November 19th, 2016, 1:04 am 
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Joined: September 21st, 2016, 7:23 pm
Posts: 19
Its time to get serious about the details, so one of the things we are trying to do is decide what to do with our UK bank accounts: do we leave them as they are? close them? open off-shore accounts?

And that made me realise that I dont know what an off-shore account actually is, or what benefits it gives. Ive looked for a thread on here and then ran a search, but didnt come up with anything.

Could someone point me at a thread about off-shore accounts, or could someone give me a quick explanation? Id be really grateful.

Many thanks


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PostPosted: November 19th, 2016, 11:39 am 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1171
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
The Forum deals with Banks based in Calabria / Italy and the problems that we have been experiencing.
For 'Off Shore' Banks you need to contact an accountant/ Bank / Lawyers / Website for the ramifications of having one of these depending where you are domiciled for tax purposes.


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PostPosted: June 4th, 2017, 8:52 am 
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Joined: January 20th, 2012, 4:24 pm
Posts: 65
Location: Italy
San Paolo Intesa , increase monthly cost on all his bank accounts , for about 10 euro month

http://www.repubblica.it/economia/2017/ ... 10-S1.6-T1


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PostPosted: June 5th, 2017, 6:46 am 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1171
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
I don't suppose it will be long where we will be paying higher fees for being with CheBanca.


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