Money & Banking

Opening an Italian Bank Account

Opening an account with an Italian bank is probably unnecessary for most students, but if you feel that you have no other means of managing your money, it is an option you could consider. Be aware that starting costs and transaction fees may seem higher than what you are used to, and the services available to you as a foreign student may be limited. You will likely be required to get a an Italian Fiscal Code (‘codice fiscale’) in order to open an Italian bank account. A codice fiscale can be obtained at the tax office in Florence, called ‘Agenzia delle Entrate,’ in Via Santa Caterina d’Alessandria, 23. If you need help with this, please ask a staff member in the Office of Student Life.

While students are free to choose any bank to open an Italian account, NYU Florence regularly works with the Cassa di Risparmio di Firenze bank located in Via Bufalini.

Cassa di Risparmio di Firenze

Via Bufalini 4

Tel. 055 261 2237

In order to open a checking account through this bank, you must present your original passport, your NYU ID card, and your codice fiscale.

Please remember to return to the bank to close your Italian bank account before you leave Italy at the end of the semester.

Exchange Rates

The exchange rate of the U.S. Dollar (and other foreign currencies) to the Euro fluctuates, so be sure to check exchange rates regularly to keep track of your spending.

ATM Cards

All ATMs in Florence accept foreign cards, and although transaction fees are fairly high ($2.00-$5.00 per transaction), ATMs are convenient, and exchange rates are fair. An ATM managed by the “Cassa di Risparmio di Firenze” bank is available for student use on the main floor of Villa Natalia. When using a non-Italian ATM card in Florence, remember to first notify your bank that you will be using the card internationally. If you have set up your card for international service and find that it does not work, try the ATM of a different bank. If you attempt to withdraw money from several banks with no success, call the card issuers. Please note that ATM cards that require PIN numbers of six or more digits are not usable with Italian ATMs.

Sending and Receiving Money

To send or receive money in Florence (for example, if your parents need to wire you money because your wallet was stolen), you have several options. The most frequently used companies are Western Union and MoneyGram. Western Union has several offices in Florence. All locations are listed on their website: MoneyGram works with the Poste Italiane, so check with your local post office or visit for more information.

Please note that Apple Pay is not as widely used and accepted in Italy as a form of payment.