What is the service?
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. The Bank of Italy also issues cashier's cheques at the request of the State Revenue Agency for personal income tax and other tax refunds.
Who uses it?
Persons who need a guaranteed payment instrument similar to a banker's draft can request the issue of a BI cashier's cheque. The cheques can be cashed by the beneficiary, who may be a natural or legal person.
How?
Request for issue
You can request a BI cashier's cheque from one of the branches that provide this service. You can deliver the application in person or send it by mail, certified e-mail or fax (the forms can be downloaded from this page).
The corresponding amount may be paid either in cash or by means of a bank credit transfer 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. To learn the IBAN number to use, contact the Bank of Italy branch providing the service.
As a rule the Bank issues cashier’s cheques marked "non-transferable"; on request, cheques may be issued in transferable form, but only for amounts less than €1,000 and on payment of a stamp tax of €1.50. In the case of payment by bank credit transfer, the transfer must include the stamp tax.
Cashing
You can cash BI cashier's cheques at:
- your own bank or post office branch, by depositing the cheque on your current account;
- one of the Bank of Italy branches that provide this service, requesting that the amount be paid in cash or credited to a bank current account. The Bank verifies the identity of the bearer (or the beneficiary) by means of an identity document, which you must therefore bring with you. The Bank also checks the regularity of the identity document with the entity that issued it, and this may result in a deferment of payment. If you prefer not to wait for these controls to be completed, you can have the cashier’s cheque paid with the intercession of a notary, at your expense, or credited to a current account.
Depositing of a cashier’s cheque by heirs
In the case of a cashier’s cheque payable to a deceased person, the heirs can deposit the cheque on a bank or postal current account. For information on the required documentation, they should consult their bank or Poste Italiane.
The heirs can also obtain payment of the cheque at one of the Bank of Italy branches that provides the service. They should present themselves in person or with a simple mandate (for amounts of up to €3,000 per person) or power of attorney from those who are absent. Alternatively, they can send the request by mail, fax or certified e-mail. A photocopy of the identity document of each heir, the original cashier’s cheque and the forms that can be downloaded from this page must be attached to the request.
For further information on the documentation to submit, contact one of the branches of the Bank of Italy that offer the service.
Useful information
If a BI cashier's cheque is not delivered or has been lost or stolen, you must report this immediately to a Bank of Italy branch by mail, certified e-mail, telegram or fax or in person. You can download the form for reporting non-receipt from this page.
If the cheque is for a tax refund, the report must give the cheque’s identifying data, which can be obtained from the Revenue Agency.
Cheques are no longer valid and cease being payable on 31 December of the tenth year after they are issued.
Branches