Banking and moving money to Italy
Where to open an account, how to move money from Israel without it getting frozen, and what you need to report.
✓ Checked against the sources: October 2026⚠️ This isn't financial, tax or legal advice. Before moving large sums or investing, talk to a professional.
Opening an account
Many people start with an online account in the first days, then open an account at a local bank for the rental contract and salary. Some landlords and employers ask for an Italian IBAN (starting with IT).
- Documents usually requested: passport, codice fiscale, proof of address and proof of income.
- The bank must check you ("know your customer") under anti-money-laundering law.
- Large traditional banks: Intesa Sanpaolo, UniCredit, Banco BPM, BPER. Online options: Fineco, Revolut, Wise, N26.
- Before opening, you can check that the company is in the Banca d'Italia registers.
Source: Banca d'Italia: albi ed elenchi
Moving money from Israel without surprises
- Prepare proof of where the money comes from: a flat sale, savings, inheritance or salaries. Banks in both countries must check it, and in Italy they report suspicious transactions to the financial intelligence unit (UIF).
- Use a bank or a licensed transfer service. In Italy: the Banca d'Italia registers. In Israel: the Bank of Israel.
- For a large transfer, tell the receiving bank in advance and send the documents. That prevents a freeze during the check.
Source: UIF (Banca d'Italia) · Israel Money Laundering Prohibition Authority · Banca d'Italia: albi ed elenchi · Bank of Israel
🔒 3 more sections in this guide
- 💶 Cash
- 🚩 Scams
- 📈 An investment account with a foreign broker
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