The Spaniard has yet to agree personal terms with Inter, football.london has confirmed.
But it is believed Inter are keen on wrapping a deal for the right-back.
Bellerin has told Arsenal he wants a fresh challenge this summer.
The Gunners want at least €20m for the 25-year-old, but Inter are struggling financially and would be unable to meet the demand.
A loan could be a better option, if Arsenal are happy to wait another for their money.
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