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ECONOMY

How you could win up to €5 million in Italy’s ‘receipt lottery’

A government reward scheme offers consumers the chance to enter a million-euro prize draw each time they make a purchase in Italy. Here's how the 'receipt lottery' works.

How you could win up to €5 million in Italy's 'receipt lottery'
Any purchase over €1 could earn you a ticket in Italy's 'receipt lottery'. Photo: Gabriel Bouys/AFP

The 'lotteria degli scontrini' is open to shoppers who pay by card or cash, but the biggest prizes are reserved for people who make electronic purchases.

It is just one of several incentives on offer as part of Cashless Italy, the government's strategy to encourage consumers and businesses alike to switch to card payments in a bid to fight tax evasion.

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Other bonuses available to those who swap cash for card include 10 percent refunds on card purchases and prizes for people who make the most electronic payments in a certain period.

While the measures have been in the works for a while, they have been bundled into Italy's post-pandemic stimulus package and are mostly due to start from January 2021.

And of all of them, the receipt lottery is the one that offers the biggest potential rewards. 

Here's how to enter, and what you could win.

How does the lottery work?

The lottery is designed to achieve several goals at once: boosting consumer spending, encouraging businesses to log sales with tax authorities, and incentivising electronic payments.

Shoppers apply for a personal lottery number that they can show to the cashier each time they make a purchase. Each euro spent earns them one entry into a prize draw, with people who pay by card getting an extra chance to win in a special draw reserved for cashless transactions.

Who is eligible?

Anyone who is resident in Italy, has a codice fiscale (tax code) and is over 18 can take part.

READ ALSO: How to get your Italian tax code

There are prizes for both consumers and business owners: businesses must have an electronic cash register capable of issuing an electronic receipt, or scontrino elettronico, for them and their customers to enter. 

How do you enter?

The first step is to generate your lottery number, which you can do online here using your codice fiscale.

You'll receive a personal code that you can print out or store on your smartphone. Once the lottery starts from January 1st, show the code each time you make a purchase using an electronic cash register to earn an entry into the draw for each euro you spend.

You have to spend at least €1 for it to count, but after that spending will be rounded to the nearest euro – so if you spent €1.75, you'd get two entries, as you would if you spent €2.40.

You can earn up to 1,000 entries per transaction, by spending €1,000 or more in one go. There's no limit on the number of total entries you can accumulate across all your transactions.

Paying by card or with an app increases your chances of winning by earning you a second entry into a draw specially for cashless transactions.


Photo: Francois Lo Presti/AFP

While you can pay for almost any goods or services you like, the following transactions will not be eligible, at least for now:

  • Online payments
  • Business or professional expenses
  • Tax-deductible expenses
  • Payments where you swipe your tessera sanitaria (health service card), e.g. medication, medical services or opticians' bills
  • Payments for which you receive an electronic bill (fattura elettronica) instead of a receipt

What can you win?

There are two prize draws, one for consumers however they pay, and the other for consumers and business owners who make or take cashless payments.

Each draw has weekly, monthly and yearly prizes, all of which are tax-free.

Here's what's on offer in the regular consumer draw:

  • Every week: seven prizes of €5,000 each
  • Every month: three prizes of €30,000 each
  • Once a year: one grand prize of €1 million

In the second draw, reserved for electronic transactions, you could win even more:

  • Every week: €25,000 each for 15 consumers and €5,000 each for 15 businesses
  • Every month: €100,000 each for 10 consumers and €20,000 each for 10 businesses
  • Once a year: one €5 million prize for a consumer and €1 million for a business

You can only win one prize per weekly/monthly/yearly draw, though shoppers who pay by card will be entered into both categories and could potentially win a prize in each.

Winners will be informed either by certified email, if they have a valid posta elettronica certificata (PEC) address, or by registered post to the address where you're officially resident. You can also register to receive an SMS alert.

If you win you'll have to contact the Italian Customs Agency within 90 days to claim your prize, otherwise it goes back in the pot.

Do you have to keep all your receipts?

No: it’s the shopkeeper or business owner’s responsibility to transmit all the payment details.

Consumers will be able to check that their receipt has been registered by logging into the official lottery website. If you win, you don’t need to produce your receipt in order to claim a prize.

Will your spending be tracked?

The government says entering the lottery will not allow anyone to track your spending.

The details of your payments will only go the Customs Agency, the body responsible for running the lottery, and the only information stored will be the amount spent, the means of payment and your personal lottery number, which will only be used for the purposes of identifying you if you win a prize. It will not be used to profile your spending habits.

Find out more and generate your lottery number on the Lotteria degli Scontrini website

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MONEY

The verdict: What are the best banks for foreigners in Italy?

Picking the right banking option in Italy can be hard, but The Local's readers have shared their experiences and advice to give you a head start.

The verdict: What are the best banks for foreigners in Italy?

If you’re planning on moving to Italy, opening a bank account will be one of the very first things you’ll have to do in the country.

Overseas accounts (especially those from outside the eurozone) are unlikely to cut it for everyday tasks like paying bills and taxes, receiving an Italian salary and taking out insurance as many Italian authorities require an account with an Italian IBAN number for these purposes.

Italy has a large number of banks to choose from, ranging from traditional Italian institutions to international banks to a host of online-only operators that have grown in popularity in recent years.

But Italian-only online information, confusing paperwork and a swarm of different offers can make it hard to find the right option, which is why we asked readers of The Local to share some of their best insider tips in a recent survey.

Traditional v online banking

If you’re looking to open an account in Italy, one of the very first decisions you’ll be faced with will be whether to opt for a traditional institution or a digital banking platform. 

Overall, around four in ten respondents indicated an online banking platform as the best option for foreigners in the country, with many pointing to low account fees, advantageous currency exchange rates and a far greater degree of flexibility compared to traditional institutions. 

READ ALSO: Which documents do I need to open an Italian bank account?

The majority of respondents however selected a traditional Italian bank as the best option, citing greater levels of trust in traditional institutions, the advantage of dealing with people face to face and, in some cases, the availability of specific services and information for foreign nationals. 

Traditional banks

Italy’s biggest private bank, Intesa Sanpaolo, was recommended by multiple readers as the best option for foreign nationals in the country.

Intesa San Carlo, Italy

People walk past the headquarters of Italy’s Intesa Sanpaolo in Turin’s Piazza San Carlo in January 2017. Photo by Marco BERTORELLO / AFP

Iain Gosling, a UK national living in Pisa, Tuscany, highlighted the quality of their online services, saying: “The app is easy to use and it translates into English automatically. Online banking is easy. We maintain bank accounts in the UK and send funds to ISP, no problem.”

Another British national living in Pisa focused on the advantages of dealing with Italy’s largest bank, saying that “a lot of operations are done through ISP so the transaction fee is low” and the large number of branches across Italy makes it easy to “open an account quickly in person.”

Laura, a US-Italian citizen living in Ascoli Piceno, Marche, praised Intesa Sanpaolo for their customer service, saying staff were “patient and understanding” following a bad experience with another bank.

READ ALSO: What you need to know about opening a bank account in Italy

Besides Intesa Sanpaolo, UniCredit was also mentioned on multiple occasions within the survey, though opinions on Italy’s second-largest bank were mixed.

Stewart, an Australian national living in Umbria, said they “never had any problem paying bills or making transfers” even when out of the country, and the bank has “a pretty good website, including an English-language (sort of) option”.

But other readers had rather different experiences. Laura, from Ascoli Piceno, said her experience with UniCredit was “a nightmare” as “they couldn’t open the account correctly” and trying to solve the issue was “humiliating and impossible”. 

Cindy in Orte, Lazio, mentioned that UniCredit “arbitrarily raised checking account rates for foreigners who are not residents from 20€ annual to 120€ annual”, whilst another reader reported that “it took someone I know three months to open an account”.

Finally, two readers recommended BancoPosta – a branch of Italy’s Post Office offering basic financial services – based on low fees, presence in all major Italian towns, and easy sign-up procedures.

Online banking and transfer platforms

Wise (formerly TransferWise) was by far the most highly recommended digital platform within our survey.

A British reader in Tuscany hailed it for its “speedy transfers, good exchange rates, and prompt problem resolution”, highlighting the contrast with “slow, expensive and paper intensive” traditional banks.

Revolut

A close-up detail of a card from digital bank Revolut. Photo by JUSTIN TALLIS / AFP

Jenny Lantschner, a British-Italian national in Lucca, also pointed out Wise services’ speed, saying that it’s “very easy to use on a smartphone and will send funds within minutes”.

Besides Wise, several readers recommended Italian online bank Fineco, which they praised for easy account-opening procedures, efficient online operations and low fees. 

Lithuania-based Revolut was also recommended by some readers on the basis of “low cost, convenience, and near spot-market rates for currency exchange”, though others mentioned having problems with money transfers. 

For instance, Bob, an American national in Siracusa, Sicily said that “English, American, and Italian banks all refused to fund” his account.

Finally, Steve in Lombardy advised against opening accounts with Germany-based N26 as they “have been closing accounts in Italy and not giving back the money to customers”.

Though N26 is an active digital bank in Italy, it has been operating in a limited capacity for nearly two years following on-site inspections in late 2021 that revealed shortcomings in terms of security legislation and weaknesses in anti-laundering measures. 

Readers of The Local have recently reported having their accounts shut and being locked out of their funds for no apparent reason.

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