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Rome Banking & Currency

Currency
euro (EUR)

Exchange Rate Euros per US Dollar
0.7534 (2008)
0.8034 (2007)
0.7807 (2006)

For current exchange rate please visit
www.x-rates.com/calculator.html

Currency is the Euro (EUR). The notes are in denominations of 500, 200, 100, 50, 20, 10, and 5 euro. The denominations of coins are 2 euro, 1 euro, 50 euro cent, 20 euro cent, 10 euro cent, 5 euro cent, 2 euro cent, and 1 euro cent. The easiest method of securing cash at the best exchange rate is to make withdrawals using a US credit card from the ATM machines found at the major banks and stores.

Italian banks offer checking and savings accounts, and joint accounts (conto corrente cointestato) for couples.  The Bancomat card is a debit card generally accepted throughout Italy to pay for goods and services. It is recommended to request this when opening a bank account.

Banks are obliged to publish the highest interest rates that they charge along with the market average so that borrowers can compare rates. They must also publish their conditions.

To open an account you will need:
Passport
Tax number (Codice Fiscale)
Recent utility bill (as proof of address)
Residence card or proof of work in Italy

It is not necessary to make an appointment to open a current account. Opening an account can be done in a day and methods of making payments (debit cards and check books) will usually arrive within two to three weeks of the account being opened.

Bank opening hours vary according to the bank and the town. In general they are open from 08:00 or 08:30 until 13:00 or 13:30 and in the afternoons from 14:30 or 15:00 until 16:00 or 16:30. Some banks are open on Saturday mornings. On the day before a bank holiday, banks are often closed in the afternoon.

Major Italian Banks:
Banca Nazionale del Lavoro
www.bnl.it

Cassa di Risparmio
www.carife.it

Banca di Roma
www.bancaroma.it

Poste Italiane
www.poste.it/en

Banca Intesa
www.bancaintesa.it