How to open a bank account in Italy

If you live in Europe it is quite easy to open a European bank account; you simply need an ID card, proof of address and phone bills. Some years back, opening a bank account in Italy without residency was either impossible or expensive. However, that has since changed because under the Italian law you can now open a virtual bank account whether you are residing in Italy or not.

Bank account for non-resident

You can open a non-resident account by asking for assistance from the relevant agencies specialized in offering the services. Once you have opened the virtual bank account you can withdraw and send money at any time without penalty or incurring extra costs.

This has been made possible due to the B2B pay where you get the free virtual bank account using your IBAN number. Payments through the virtual bank account are sent directly to your master account at 1 % fee of the mid-market Bloomberg fee at the time the money arrives in the account.

The B2B Pay payment solution is offering the best Virtual Bank Account in Italy with the best rates for sending and receiving money from your domestic bank account. If you are living in the SEPA zone, you will get the virtual account without the need of reference numbers.

Some of the advantages of getting Virtual bank Accounts based on the B2B pay is it eliminates the sovereign risks involved. You need to understand that parking funds in an international bank account mitigate the risk of fund loss that results from confiscation of money or freeze of accounts by governments without you committing any fault.

Secondly having a virtual bank account via the B2B Pay system in Italy enables you to enjoy low or no income tax implications from business activities. The virtual Bank accounts give you instant access to the statements where you can see the activities in your account in real time basis. It also offers the flexibility of accessing your account balance as well as seeing your past and pending withdrawals and deposits at anytime from anywhere.

One of the advantages brought by virtual bank account is the transfer of money between accounts instantly across the globe. The B2B Pay system has inventories of different currencies that can help you to make transactions in multiple currencies. If you are looking for anonymity then virtual bank account allows you to bank as per the banking secrecy guidelines.