BANK ACCOUNT IN ITALY

1. Why you need a bank account in Italy

• Salary/fees (employment, Partita IVA), employer reimbursements.
• INPS social benefits (sick pay, family benefits, NASpI, etc.).
• Payments: rent, utilities, healthcare, kindergarten/school, university.
• Taxes and fees: F24, pagoPA, MAV/RAV, traffic fines.
• Digital services: SPID, IO, App Poste, booking via CUP.
• International transfers, online purchases, standing orders (SDD/RID).

Not having an account significantly complicates legal work, receiving benefits, and renting housing.

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👤 2. Categories of foreigners who can open an account

⚖️ Правова база

• Згідно з Direttiva UE 2014/92/UE та італійським законодавством, будь-яка особа, що легально перебуває на території Італії, має право відкрити conto di pagamento di base (базовий рахунок).
• Це право поширюється не лише на резидентів, а й на іноземців з тимчасовим дозволом чи навіть зі статусом шукача притулку.

👤 Категорії іноземців, які можуть відкривати рахунок

1. Громадяни ЄС
   • Достатньо паспорта + codice fiscale.
   • Більшість банків можуть попросити residenza (довідка з comune), але за законом достатньо domicilio.

2. Громадяни країн поза ЄС
   • Необхідно мати permesso di soggiorno або хоча б ricevuta postale (квитанція поштової подачі на permesso).
   • У багатьох банках цього достатньо для відкриття conto base чи conto corrente.

3. Шукачі притулку (richiedenti asilo)
   • Мають право на conto di base з паспортом і cedolino/ricevuta C3 (підтвердження подачі).
   • Часто банки не знають цієї норми → варто посилатись на MEF та Banca d’Italia.

4. Тимчасово перебуваючі (віза, soggiorno breve)
   • Більшість банків відмовляють, але онлайн-банки можуть відкрити рахунок з паспортом + codice fiscale.

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🔹3.  Types of accounts

1️) Conto corrente (current account)

The most common type of account.

• For daily financial operations: receiving salary, paying rent and utilities, bank transfers.
• Usually linked to a bank card (ATM/debit).
• May support F24, pagoPA, SDD/RID (direct debits).
• Maintenance: €3–12/month in traditional banks; sometimes free in online banks.

📌 Suitable for anyone planning to live and work officially in Italy.

2️) Conto di base (basic account)

A special account provided for by EU and Italian law (DPCM 28/01/2012).

• Intended for socially vulnerable groups: low-income persons, migrants, asylum seekers, pensioners.
• Fixed set of basic operations:
  • receiving salary/pension;
  • a minimum number of bonifici;
  • debit card;
  • payments to the state (F24, pagoPA).
• For people with ISEE ≤ €11,600 — free (no canone and no imposta di bollo).
• For others — very low fee (≈ €2–4/month).
• A bank must open a conto di base for anyone legally present in Italy (including richiedenti asilo, protezione temporanea).

📌 This is often the account recommended for newly arrived migrants.

3️) Conto deposito (deposit/savings account)

• Not for daily spending, but for holding money with interest.
• Two types:
  • libero (withdraw anytime);
  • vincolato (funds locked for 6–36 months, higher rate).
• Interest depends on the bank (≈ 2–4% in 2025).
• Not usable for salary or rent.

📌 Makes sense for savings, not as a primary account.

4️) Conto online (online account)

• Opened entirely remotely (app/website).
• Documents: passport/ID + codice fiscale, selfie/video verification.
• Usually lower fees than classic banks (canone €0–3/month).
• Convenient mobile app, push notifications, flexible limits.
• Downside: some online banks (Revolut, Wise) have EU-IBANs (LT, BE, NL) that are sometimes not accepted for SPID, pagoPA, or by landlords.
• Best options for migrants: N26 (IT-IBAN), Revolut, Wise.

📌 Ideal for those who want an account quickly right after arrival.

5️) Conto business / aziendale

• For Partita IVA, ditta individuale, società.
• Expanded features:
  • paying F24 (taxes),
  • integration with accounting software,
  • multi-user access (for employees),
  • business credit products.
• Higher fees than regular conti correnti (€10–25/month).
• The bank may require documents from the Camera di Commercio or proof of Partita IVA.

📌 Mandatory for entrepreneurs and companies. Not suitable for private individuals.

✅ Comparison

Account type	For whom	Cost	Features
Conto corrente	All private individuals	€3–12/month	Most common; for salary and daily expenses
Conto base	Social categories, refugees, low ISEE	€0–4/month	Guaranteed by law; simple package
Conto deposito	For storing funds	Free / with conditions	Not for salary or utilities
Conto online	Newcomers, youth, migrants	€0–3/month	Instant opening; sometimes non-IT IBAN
Conto business	Partita IVA, companies	€10–25/month	For entrepreneurs; accounting integration

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📑 4. Documents to open a bank account in Italy

🔹 1. Passport / ID (valid identity document)

• The main document for client identification (KYC / Antiriciclaggio – anti-money-laundering rules).
• EU citizens: a national ID card may suffice.
• Non-EU citizens: a foreign passport is mandatory.
  👉 If your passport is close to expiry (less than 6 months), renew it—banks may refuse.

🔹 2. Codice Fiscale

• The identification tax number; no bank will open an account without it.
• Obtained free at Agenzia delle Entrate or an Italian consulate.
• Used for all financial and public procedures.
  👉 If you do not yet have a plastic card, a paper certificate (attestazione) is enough.

🔹 3. Permesso di soggiorno / ricevuta postale

• Often required by offline banks to confirm legal stay.
• Both the permesso and the ricevuta postale (postal receipt for renewal/application) are accepted.
• Online banks (N26, Wise, Revolut) usually do not require a permesso—only passport + codice fiscale.
  👉 If a bank refuses to accept the ricevuta postale, go to another bank/branch or assert your rights.

🔹 4. Proof of address

A bank must have your domicilio/residenza in Italy. Accepted proofs:

• registered lease contract (contratto di locazione registrato with Agenzia delle Entrate);
• dichiarazione di ospitalità (if you live with friends/relatives);
• bolletta (utility bill in your name);
• dichiarazione di domicilio registered with the Comune.
  👉 If you have just arrived and have none of these → open an online account that does not require residenza.

🔹 5. FATCA / CRS

• For U.S. citizens → FATCA self-certification (Foreign Account Tax Compliance Act).
• For others → CRS (Common Reporting Standard), confirming your tax residence.
  👉 Not a mere formality: banks share information with your country of tax residence.

🔹 6. Proof of income / contract (sometimes)

• Not needed to open a basic conto corrente, but required for a credit card, overdraft, or loan.
• Evidence may include:
  • busta paga (payslip);
  • contratto di lavoro;
  • dichiarazione redditi (Mod. 730 or Redditi PF);
  • for entrepreneurs — Partita IVA documents.
    👉 If you have just arrived and have no income yet → open a conto base/corrente with a debit card. Credit products can be added later.

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🔹 5. Where to open an account

Traditional banks (branches)

• Intesa Sanpaolo, UniCredit, BPER, Banco BPM, Crédit Agricole, BancoPosta (Poste).
• Pros: IT-IBAN, cash desks, broad network, in-branch services.
• Cons: queues, fees, more paperwork.

Online banks

• N26 (IT-IBAN), Wise (BE-IBAN), Revolut (LT-IBAN), bunq (NL-IBAN).
• Pros: fast, English-language interface, cheap international transfers.
• Cons: not always support F24/pagoPA/SDD; can be harder to obtain statements accepted by authorities.

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🏦 6. How to open a bank account: step by step

🔹 Opening at a branch (offline bank)

1. Book an appointment
   • For large banks (Intesa, UniCredit, Poste) book online or by phone.
   • Smaller banks may accept walk-ins, but they may refuse due to workload.
2. Documents
   Bring originals and copies:
   • passport;
   • codice fiscale;
   • permesso di soggiorno / ricevuta (or visa);
   • proof of address (residenza/domicilio/ospitalità, bolletta or lease).
     👉 Make clear you are opening as a consumer (private individual) and request a conto base or standard conto corrente, not a business account.
3. Questionnaire (KYC / Antiriciclaggio)
   The bank must identify clients:
   • KYC form: personal data, source of funds, country of tax residence;
   • GDPR consent;
   • CRS/FATCA self-certification.
     📌 Standard for everyone, including Italians.
4. Signing the contract
   • You sign the contratto di conto corrente.
   • You must be given the Foglio informativo — the official tariff sheet (all fees, limits, conditions).
     👉 Save it as a PDF or printout; it is crucial in any dispute.
5. Receiving the IBAN and card
   • Your IBAN is assigned immediately after signing.
   • You can start receiving/sending transfers right away.
   • The debit card (Visa/Mastercard/Maestro/Postepay) arrives by post within 3–10 days; some banks issue a temporary card at once.
6. Activating the account and card
   • You get access to mobile/online banking (home banking).
   • Set up two-factor authentication (SCA): SMS-OTP, push notifications, or token.
   • For the card: activate the PIN at an ATM or via the app.

🔹 Opening online (digital/fintech banks)

1. Sign-up
   • Download the app (N26, Wise, Revolut, bunq).
   • Fill a short form: name, address, codice fiscale.
2. Verification
   • Photo of your passport/ID.
   • Video verification or selfie with the document.
   • For EU citizens sometimes ID + codice fiscale is enough; for extra-EU — passport.
3. Address confirmation
   • In most cases a self-declaration is enough (you enter the address).
   • Some banks (e.g., N26) may ask for a bolletta or lease upload.
4. Receiving IBAN and card
   • IBAN is assigned instantly after verification.
   • You can immediately make SEPA transfers.
   • A virtual card appears in the app; the physical card arrives by mail.
5. Setup
   • Activate the card in the app.
   • Add to Apple Pay / Google Pay.
   • Set transaction limits.
   • Enable push confirmations for every operation.

🔹 Closing an account

Under Italian law (“Legge Bersani”, D.L. 223/2006):

• closing a personal account is free of charge;
• you may submit the request at the branch or send a PEC (posta elettronica certificata) to the bank’s Ufficio Reclami;
• the bank must close the account within a reasonable time (usually up to 30 days).

📌 Banks often try to delay — insist on your right: “conto corrente: chiusura gratuita per legge Bersani.”

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💰 7. Fees in Italy

🔹 1. Canone mensile (monthly maintenance)

• Classic banks (Intesa, UniCredit, BPER, BancoPosta) charge €3–12/month.
• Online banks (N26, Wise, Revolut, bunq) are often free or €0–3/month.
• In many plans you can avoid the fee if:
  • salary/pension is credited (accredito stipendio/pensione);
  • you activate at least one SDD (direct debit);
  • you are under 30 (youth packages).

🔹 2. Bonifico SEPA

• Standard SEPA transfer (up to €50,000) usually costs €0–1.50; online it is almost always free.
• Bonifico SEPA Instant costs more: €1–3 depending on the bank.
• Some online banks (Revolut, Wise, bunq) offer free instant transfers.

🔹 3. ATMs

• Withdrawals at “other” banks’ ATMs cost €1.5–2.5 per operation.
• Free at your own bank’s ATMs (e.g., Intesa, UniCredit).
• Online banks often give 5 free withdrawals/month, then a fee applies.

🔹 4. SDD / RID (direct debits)

• Utilities, rent, mobile internet, Netflix, etc. are typically set up via SDD.
• These operations are almost always free.
• Important: if your balance is insufficient → the bank may charge an insoluto fee (failed debit).

🔹 5. Imposta di bollo (government stamp duty)

• €34.20/year (≈ €8.55 every 3 months).
• Charged only if the average yearly balance > €5,000.
• Conto di base and some social categories (low ISEE, richiedenti asilo) are exempt.

🔹 6. Foglio informativo

• By law every bank must provide a Foglio informativo (PDF with all fees).
• It lists even hidden costs: statement printing, account closure, card blocking.
• 👉 Always request and keep this document; it is key in disputes.

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🔹 8. Security

• Enable two-factor authentication, limits, and push notifications.
• Never disclose OTP/PIN by phone/chat.
• Verify the IBAN/payee before a bonifico (anti-spoofing).
• Keep PEC/certified mail for official correspondence.

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🔹 Complaints and protection of rights

1. File a written complaint with the bank’s Ufficio Reclami (by PEC/registered mail). The bank must reply within 60 days.
2. If unsatisfied — apply to ABF (Arbitro Bancario Finanziario) online (small fee, quick process).
3. For EU-IBAN discrimination — inform the Banca d’Italia or Antitrust.
4. For disputes regarding payments to public bodies — contact the relevant ente creditore (Comune, Region, etc.).

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9. Useful links

• Banca d’Italia → Transparency, consumer rights, ABF: https://www.bancaditalia.it
• MEF / “Conto di base” → Official information on the basic account: https://www.mef.gov.it
• Agenzia delle Entrate → Codice Fiscale, F24: https://www.agenziaentrate.gov.it
• PagoPA → Government online payments: https://www.pagopa.gov.it
• Poste Italiane / BancoPosta: https://www.poste.it
• N26: https://n26.com | Wise: https://wise.com | Revolut: https://revolut.com | bunq: https://www.bunq.com

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Frequently Asked Questions (FAQ)

Can I open an account without a permesso?
Yes, at most online banks — passport + codice fiscale is enough.

2. Will payroll be paid to an EU-IBAN?
   Yes, but some employers ask for an IT-IBAN; agree in advance.

3. What is a conto base and who gets it free?
   A basic consumer account; for vulnerable categories/low ISEE it is often €0.

4. How much does maintenance cost?
   Online — from €0; offline — €3–12/month. Check the tariff sheet.

5. How to pay F24 and pagoPA from an online bank?
   Via the app/web. If unsupported, use another bank/post office or an intermediary service.

6. Can I open an account for a child?
   Yes, together with a parent/guardian; age-based limits apply.

7. What is the €34.20 imposta di bollo?
   An annual stamp duty on statements if the average yearly balance > €5,000 (for individuals).

8. Is an account mandatory for renting?
   Almost always yes; cash is increasingly not accepted.

9. How fast do I get the card?
   At branches — virtual/temporary immediately; plastic card arrives by post in 3–10 days.

10. How do I close an account?
Submit a request. The bank may not charge a closure fee.