On the Move to Milan

Relocation from the UK to Milan continues to increase as professionals, entrepreneurs, and internationally mobile families seek opportunities within one of Europe’s most dynamic economic and cultural centres. This movement intensifies the need for banking solutions that support seamless cross-border money management. 

Preparing for Relocation with the iFAST Multi-Currency Current Account 

A move to Milan requires structured financial planning. The iFAST Global Bank Multi-Currency Current Account (MCCA) is designed to simplify pre-move organisation and ongoing cross-border money management. 

1. Open the MCCA while still in the UK 
Open the MCCA while still resident in the UK, prior to relocating, to centralise GBP and EUR banking and avoid later requirements for Italian residency, local documentation, or a domestic Italian account. 

2. Build pre-move GBP savings 
Accumulate relocation funds in GBP within the MCCA and manage budgeting efficiently while preparing for housing, schooling, and initial set-up costs. 

3. Hold and grow EUR balances 
Convert GBP to EUR ahead of the move and earn 1% AER (variable)* on EUR balances held in the current account. This supports planning for rent, commuting expenses, and daily spending in Milan. 

4. Use one multi-currency debit card across Europe 
The Multi-Currency Debit Card (available for UK residents only) allows seamless spending in both the UK and Italy, with no overseas transaction fee and no ATM cash withdrawal fee from us, reducing the cost of travel, pre-move visits, and early settling-in purchases. 

5. Swap currencies as needed 
Convert between GBP and EUR directly within the account, simplifying FX management and reducing dependency on ad-hoc currency services. 

6. Maintain flexibility after relocation 
Continue using the MCCA to manage GBP exposure, pay UK commitments, or send money across borders, while managing EUR for everyday life in Milan. 

The iFAST Multi-Currency Current Account provides practical support for UK residents relocating to Milan, enabling efficient currency management, interest-bearing EUR balances, and streamlined cross-border banking. It offers a unified platform that reduces administrative complexity before, during, and after the move. 

*Details regarding the interest rates for other currencies can be found on our website at www.ifastgb.com. Please refer to our website for full terms and conditions. Up to £120,000 of your deposit is fully protected by FSCS (Financial Services Compensation Scheme). https://www.fscs.org.uk/ has further details on the scheme.    
Interest is calculated daily and paid out monthly. The interest you receive may be subject to UK tax, depending on your individual circumstances for which you should seek independent advice. The rates provided are the published rates as of 14/1/2026.