Banking in Italy
Italian banking has modernized significantly, but traditional bureaucracy persists. Understanding your options helps navigate the system efficiently.
Account Types
Conto Corrente (Current Account)
- Standard checking account for residents
- Full features: direct debits, cards, transfers
- Requires: Codice Fiscale, residence proof, ID
Conto Corrente Non Residenti
- For non-residents without Italian address
- Limited features but handles basics
- Essential for property purchases
Conto di Risparmio (Savings Account)
- Higher interest, limited transactions
- Often linked to current account
Requirements to Open an Account
For Residents:
- Valid passport or ID
- Codice Fiscale (tax code)
- Proof of Italian address (lease, utility bill)
- Residence permit (non-EU nationals)
- Initial deposit (€100-500 typical)
For Non-Residents:
- Valid passport
- Codice Fiscale
- Proof of address (home country)
- May require in-person visit
Best Banks for Expats
| Bank | Best For | Notes |
|---|---|---|
| FinecoBank | Digital banking, trading | Modern interface, English support |
| Intesa Sanpaolo | Full service, branches | Italy's largest bank |
| UniCredit | International, English | Good for foreigners |
| BNL (BNP Paribas) | Expat programs | International backing |
| N26/Revolut | Digital-first, easy setup | EU-licensed, instant accounts |
| Wise | International transfers | Multi-currency, low fees |
Digital Banking Options
N26 and Revolut offer Italian IBANs without Italian residency requirements—just EU residency. These are excellent for:
- Quick account opening (app-based)
- International transfers
- No monthly fees (basic tiers)
- Euro accounts
Limitation: Some Italian services require traditional bank accounts for direct debits.
Getting a Codice Fiscale
Required before opening any Italian bank account:
- Visit your nearest Agenzia delle Entrate office
- Bring passport (and residence permit if applicable)
- Receive Codice Fiscale immediately (free)
- Or apply at Italian consulate before arriving
Banking Fees
Italian banks typically charge:
- Monthly maintenance: €0-10
- Debit card: €10-20/year
- Credit card: €30-100/year
- ATM withdrawals: Free at own bank, €2 at others
- Wire transfers: €2-10 domestic, €15-30 international
Tips for Expats
Language: Many banks offer English service in major cities, but smaller branches may be Italian-only.
Appointments: Traditional banks often require appointments. Book online or by phone.
Documents: Bring originals plus photocopies of everything.
Processing: Account opening can take days to weeks at traditional banks.
Pro Tips
- •Get your Codice Fiscale before applying for any bank account
- •Digital banks (N26, Revolut) work for most daily needs
- •Traditional bank account needed for some Italian direct debits
- •FinecoBank offers best English-language online banking
- •Bring all documents as originals plus copies to bank appointments
Have questions about banking in Italy?