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    • etcomehome
    • By etcomehome 9th Sep 17, 5:00 PM
    • 4Posts
    • 0Thanks
    EDUSERVICE Italian Bank Account
    • #1
    • 9th Sep 17, 5:00 PM
    EDUSERVICE Italian Bank Account 9th Sep 17 at 5:00 PM
    Hi, My son is taking an Erasmus Year in Perugia, Italy and we are trying to find the best option for him to access money whilst living there. A company called Eduservices offer an "Italina Bank Account

    There is altogether a one off charge of €30 for activation and a €1 monthly fee. Thereafter there are no charges for using the cash machines to withdraw money. You also have to sign a form giving Eduservice authorisation to represent you with the bank.

    Does anyone know of any potential pitfalls with this? It otherwise seems a reasonable way to arrange short term banking for a student studying abroad.

    I would appreciate any comments or views on this.
Page 1
    • bigadaj
    • By bigadaj 9th Sep 17, 6:47 PM
    • 10,817 Posts
    • 7,141 Thanks
    • #2
    • 9th Sep 17, 6:47 PM
    • #2
    • 9th Sep 17, 6:47 PM
    Might get a better response on the banking board.

    There's a thread running currently about fineco as a new online bank account which might be worth investigating, they are Italian owned so may be appropriate.
    • flavione74
    • By flavione74 11th Sep 17, 8:53 AM
    • 17 Posts
    • 7 Thanks
    • #3
    • 11th Sep 17, 8:53 AM
    • #3
    • 11th Sep 17, 8:53 AM
    I agree that this should go to the Banking board.
    Fineco UK is definitely the best option for you. The account would be on your name, and you could get a free debit card on Visa circuit, which would let your son get money from anywhere in Italy and pay in many shops (not in all, because sadly many are still using only a national debit card circuit).
    And transferring money from the UK would be almost free: you pay into Fineco UK account via Faster Payment and you convert the money in Euro for a very small fee.
    Keep in mind that backend is in Italy,so lots of operations are performed within the the next working day.

    Italian bank accounts are not free, if you open them in a branch. Most of the free bank accounts are only available online, and I don't think their pages are available in English.
    • etcomehome
    • By etcomehome 11th Sep 17, 2:34 PM
    • 4 Posts
    • 0 Thanks
    • #4
    • 11th Sep 17, 2:34 PM
    • #4
    • 11th Sep 17, 2:34 PM
    I have checked in to the Fineco solution and it seems perfect. Dual currency account with no charges and perfectly OK for students to open with no income requirements. Seems too good to be true. Thanks again.
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