2640 More Banking questions

Monte dei Paschi di Siena has a branch in NYC and quite all over the world.
take a look to this: [url]http://www.mps.it/sedi/detSediEstere.asp?ID=5891&T=7[/url]
good luck!

[QUOTE=casaspinelli]I have read the very informative thread about banking. I was wondering myself, if maybe there is an international bank I could use that exists in NY as well as Florence. Has anybody had any experience with HSBC? It looks as though they have some international banking. I hope to have time this week to stop in my local branch and ask. ;)[/QUOTE]

I did a bit of research into this and found that with CITIbank, you can open a UK account in pounds and a UK account in euros. You can transfer between these without any charge as and when you wish. Citibank in Rome can then open an Italian account. All these can then be linked and money tranferred between them at no cost. Direct debits can be set up on line etc.

This would have been my preffered way, but due to time scales, we couldn't get to Rome to open the account so we didn't actually try it. Sounded good though.

Andy

We did actually have both a sterling and a euro account with Citibank. However there was very little that could be done with the euro account. Especially when you were issued with only one cash card and had to telephone their call centre in India to switch which account funds came out of.

We discovered that Citibank in Italy is primarily an investment bank and issuer of credit cards. At the time you had to have and retain a balance of around £65,000 in order to open an italian current account with them. As a result we closed all our accounts with Citibank and transferred our main account to Nationwide - free withdrawals and payments at cash machines and in shops at the interbank rate. We opened a Post Office account for direct debits etc and also an Alliance and Leicester cheque account in order to transfer funds in euros to the Italian PO account using the eurogiro network. This costs £7.50 per transfer and €2 to receive in Italy. Taking 3-5 days.

This has worked well for us so far.

I am with MPS and they have an English speaking person in my local branch and you get full banking - for a fee - unlike English banking - I am very happy with them as they handle everything - - I know I can get a Posta Banca account for no money - but my experience of the Poste is its quite impersonal - MPS is very good - and you get internet banking too - and help over the phone can be in English

I belive they have a branch in London - but I havent used it

[QUOTE=Cassini]We did actually have both a sterling and a euro account with Citibank. However there was very little that could be done with the euro account. Especially when you were issued with only one cash card and had to telephone their call centre in India to switch which account funds came out of.

We discovered that Citibank in Italy is primarily an investment bank and issuer of credit cards. At the time you had to have and retain a balance of around £65,000 in order to open an italian current account with them. As a result we closed all our accounts with Citibank and transferred our main account to Nationwide - free withdrawals and payments at cash machines and in shops at the interbank rate. We opened a Post Office account for direct debits etc and also an Alliance and Leicester cheque account in order to transfer funds in euros to the Italian PO account using the eurogiro network. This costs £7.50 per transfer and €2 to receive in Italy. Taking 3-5 days.

This has worked well for us so far.[/QUOTE]

Glad I didn't go for this then, because that's not what they said at the branch

Although my bank charges for receiving funds from the UK - my currency conversion company foots the bill "hifx" - so banking is therefore not too expensive

Thank you for all of your advice!:D I know about citibank and their Indian customer service line....ugh..... I have my mortgage along with a home equity line of credit with them. I got so frustrated at one point because for 9 months they had my address and my name spelled completely wrong on all of my checks and my statements! I called once a month for 9 months, I even walked down to a local branch, still no changes until I called again last month. I told them that I was going to change mortage companies and cancel all of my accounts with them if they didn't put an American on the phone with me. They listened and now my accounts are finally straightened out.

The real estate agent that I am working with in Italy, just told me about an agency in the UK that looks like a good deal as well. [url]http://www.currencysolutions.co.uk/index.asp?PageID=61[/url]

Thanks again,
Heather
NYC

Money trasfert to Banco posta have a very few expenses and
VERY fast

Transfert time

- from usa to italy = 5 days
- from all eu country to italy 24 hous !!

ATTENTION , for have very little expenses tranfert EUROS !!

Ugo

[url]http://www.lifeinitaly.it[/url]

Banca Intesa has a branch in William Street NY and Florence

[quote=GlenB;21187]I am with MPS and they have an English speaking person in my local branch and you get full banking - for a fee - unlike English banking - I am very happy with them as they handle everything - - I know I can get a Posta Banca account for no money - but my experience of the Poste is its quite impersonal - MPS is very good - and you get internet banking too - and help over the phone can be in English

I belive they have a branch in London - but I havent used it[/quote]

I live in New York State. I have gone to the MPS site mentioned in the forum. I am trying to find a bank near Scalea, in the Cosenza province. Nothing came up for MPS there. Do You know if there is one in Northern Calabria?
MaryAnn We plan to buy in July and move in 2010 permanently.

[quote=PAS 55;21370]Banca Intesa has a branch in William Street NY and Florence[/quote]

Hi, finally someone who has mentioned my part of the world. We live in NY State, 2 hours north of NY City. We plan on buying in the Cosenza province of Calabria in July. We want to buy euros now and put them into an account. We would like to put them in an Italian bank account. Would there be a Banca Intesa in Scalea? I called NY City last year and spoke to a San Paolo banker and she said that the 2 banks, the one in Italy and the Intesa SAn Paolo here in NY city were not related at all. Don't you think it would be advantageous to open an account with NYC branch and just transfer it? So, it is apples to apples, so to speak?
Thank you for your input.

Others have mentioned Citibank, but Florence is far from northern Calabria.
MaryAnn

MaryAnn
Some things to check with whichever bank you look at:
- Monthly fees
- Fees to credit 'large amounts' to your account - some are 0.1%
- Transaction fees (e.g. per cheque, per debit, per line on your statement!)
- Internet net / phone access
- ATM access and fees
- Cash access and fees (most banks will not let you withdraw cash from another branch of the same bank!)