The official site of Italy's central bank

What is the service?

This is the service that enables you to have Bank of Italy cashier's cheques issued or cashed. The cashier's cheque is an instrument issued by the Bank of Italy at the customer's request. It has the same status as a banker's draft or postal money order. Many of the Bank's cashier's cheques are issued at the request of the State Revenue Agency to refund income or other tax credits.

Who uses it?

Persons who need a guaranteed payment instrument similar to a banker's draft can request the issue of a Bank of Italy cashier's cheque. The cheques can be cashed by the beneficiary, who may be a natural or legal person.

How?

ISSUE
Applications for BI cashier's cheques may be made to the branches that provide this service. The application can be made by mail or in person, by certified e-mail or fax.
The corresponding amount may be paid either in cash or by means of a bank or postal credit transfer (consult the list of branches' IBAN numbers). The credit transfer must be made to the current account of the branch at which the cheque is to be issued; give "Provvista per emissione di vaglia cambiario" ("Funds for the issue of a BI cashier's cheque") as the reason for the transfer. The Bank issues the cheque marked "non-transferable"; on request the cheque may be made transferable, but only for amounts less than €1,000 and on payment of a stamp tax of €1.50.

CASHING
You can cash BI cashier's cheques at:

• your own bank or post office branch and deposit the amount on your account;
• one of the Bank of Italy branches that provide this service, either for payment in cash or credit transfer. The Bank verifies the identity of the bearer by means of an identity document, which you must therefore bring with you. If the amount exceeds €5.164,57 the intervention of a notary to identify the beneficiary can be requested; as for cashier's cheques for tax refunds (“special cashier’s cheques”) this amount is reduced to €1.000.

CASHING BY HEIRS
Especially in cases of cashier's cheques for tax refunds to deceased persons, the amount often has to be paid to the deceased person's heirs. The heirs can request to have the amount credited to a bank or postal current account. For information on the necessary documentation, they may apply directly to their own bank or post office branch. They may also cash the draft at one of the Bank of Italy branches, sending the request by post, fax or certified e-mail together with the photocopy of an identity document of each heir or by going to the branch all together or with proxies from those who are absent.
Information on the documentation necessary can be had, including by telephone, at one of the Bank of Italy branches that provide the service. Normally in the case of a "legitimate" succession (one with no will), for a cashier's cheque of no more than €3,000 the documentation comprises:

• the request for restitution of the goods inherited, accompanied by a self-certification (the forms can be downloaded from this page);
• certification by the Revenue Agency for successions opened on or after 3/10/2006 or before 25/10/2001.

Helpful information

If a BI cashier's cheque is not delivered or has been lost or stolen, this must be reported immediately to a Bank of Italy branch, by mail, certified e-mail, telegram or fax or in person. If the cheque is for a tax refund, the report must give the identifying particulars of the cheque, to be obtained from the Revenue Agency. Cheques lapse and can no longer be cashed on 31 December of the tenth year after they are issued.