Banking in Italy is the most old-school experience in Western Europe — branch visits are still the norm, paperwork is extensive, and the process can be slow. But it is also perfectly manageable once you know the two keys that unlock everything: a codice fiscale (Italian tax code) and an Italian IBAN. This guide compares the accounts expats actually use — Intesa Sanpaolo, UniCredit, Fineco, BNL and Poste Italiane — plus where N26, Revolut and Wise fit in, and covers the Italy-specific details most guides skip: the imposta di bollo, IBAN discrimination, and how to open an account before you even land.
These aren't ranked "#1, #2, #3" — the right choice depends on whether you already have a codice fiscale, whether you need a branch in a small town, and whether you mostly get paid in euros or foreign currency. Fees and terms change regularly, so always verify on the provider's official site before applying.
Quick comparison: bank accounts for expats in Italy
| Account | Monthly fee | IBAN | English support | Non-resident accounts | Best for |
|---|---|---|---|---|---|
| Intesa Sanpaolo | Canone applies (check tariff) | Italian (IT) | Good in major cities | Available | Biggest branch network, full service |
| UniCredit | Canone applies (check tariff) | Italian (IT) | Good in Rome, Milan, Florence | Possible, branch-dependent | International customers, mortgages |
| Fineco | Competitive digital pricing | Italian (IT) | Digital-first, English-friendly | Limited | Modern app + investments |
| BNL (BNP Paribas) | Canone applies (check tariff) | Italian (IT) | Limited | Branch-dependent | Salaried expats |
| Poste Italiane (BancoPosta) | Low-cost, simple | Italian (IT) | Limited | Residents only | Small towns, everywhere in Italy |
| N26 (basic) | €0 basic plan | Varies by market (EU) | Full English app | EU/EEA address required | Fast English-first setup |
| Revolut (Standard) | €0 | Varies (EU) | Full English app | Yes (EEA) | Multi-currency, travel |
| Wise | €0 | Varies (multi-currency) | Full English app | Yes | Transfers & holding currencies |
1. Intesa Sanpaolo — the biggest network in Italy
Intesa Sanpaolo current account
Intesa Sanpaolo is Italy's largest bank by total assets, with branches practically everywhere — a genuine advantage if you live outside the big cities, where smaller banks may not exist. Staff in major cities are used to dealing with foreign customers, and the bank explicitly offers non-resident accounts, which makes it one of the realistic options for opening an Italian account before you move.
Expect the classic Italian experience: a canone (monthly maintenance fee) on the account, a Bancomat debit card, and a solid mobile app. Account terms and fee levels change often — confirm the current tariff on the bank's site before you apply. Intesa works best as your "main bank": salary in, rent and domestic bills out, with an Italian IBAN that every employer, landlord and utility accepts without argument.
2. UniCredit — the international option
UniCredit current account
UniCredit has the strongest international footprint of any Italian bank — it also operates in Germany, Austria and Eastern Europe, which helps if you are relocating between its markets or want an institution your home-country bankers recognise. English support is solid in Rome, Milan and Florence, thinner elsewhere.
UniCredit is a strong pick for salaried expats who want comprehensive services — current account, savings, and later possibly a mortgage — under one roof. Non-resident accounts are possible but depend on the branch, so ask directly (and in writing) before you count on it. Under-30s should ask about age-based fee waivers; several Italian banks drop the canone for younger customers.
3. Fineco — the modern way to bank in Italy
Fineco current account
Fineco is Italy's leading digital-first bank: a proper Italian bank (with an Italian IBAN) that you open and run online, with one of the best banking apps in the country and built-in investment accounts. For expats who want to skip as much of the traditional branch bureaucracy as possible without losing the Italian IBAN, Fineco is the sweet spot.
The trade-off: you still need the standard documents (ID, codice fiscale, address), and onboarding is stricter than a pure app bank like N26. But once you are in, you get domestic banking that feels modern — instant SEPA options, a real Bancomat card, and trading/investment accounts if you want them.
4. BNL and Poste Italiane — the practical alternatives
BNL (BNP Paribas) & BancoPosta
BNL (Banca Nazionale del Lavoro), part of the BNP Paribas group, is a solid traditional choice for salaried expats — full-service branches, an Italian IBAN, and the backing of a major European group. English support is limited compared with Intesa and UniCredit, so BNL suits expats with some Italian or a patient translator app.
Poste Italiane's BancoPosta is Italy's post-office bank: simple, low-cost accounts available at post offices everywhere — including villages where no bank branch exists. That rural reach is unmatched, but the offering is basic, English support is minimal, and accounts are generally for residents only. Consider it as a backup account if you live far from a bank branch.
N26, Revolut and Wise — the English-first sidekicks
N26 (free basic plan, full English app) is the fastest way to start banking in English — many expats open it first and sort the Italian account after arrival. Note the catch: N26 generally requires an EU/EEA address to open, and its IBAN is not Italian. Revolut (free Standard plan) is brilliant for multi-currency life — hold and convert dozens of currencies, travel with one card. Wise remains the cheapest transparent option for international transfers at the real mid-market rate, and for holding balances in multiple currencies.
But none of them replaces an Italian account: Italian employers, landlords and some billing systems expect — or outright demand — an Italian IBAN (see the IBAN section below). The setup most experienced expats end up with is the hybrid: an Italian account (Intesa, UniCredit or Fineco) for salary, rent and domestic bills + N26/Revolut/Wise for currency, travel and transfers home.
Before you land: codice fiscale and non-resident accounts
The single biggest time-saver is getting your codice fiscale before you arrive. It is required for almost everything in Italy — bank accounts, rental contracts, the health system. You can request it at an Italian consulate in your home country before moving, or at an Agenzia delle Entrate office once in Italy. Do not wait until your first week in the country to start this.
Next, know that conto per non residenti (non-resident accounts) exist: some banks — Intesa Sanpaolo among them — let you open a limited account before you are officially resident, so you can arrive with an Italian IBAN ready for your first rent payment. Terms are more limited and fees can be higher than resident accounts; ask the bank for the non-resident tariff in writing. You will also need your passport (or EU ID), proof of address, and — for non-EU nationals — your permesso di soggiorno (residence permit) once issued; some banks ask for it at account opening.
The costs Italians already know: canone, imposta di bollo, ATMs and bonifici
Italian banking has costs that surprise newcomers, and they are rarely explained at the branch:
- Canone mensile — the monthly account maintenance fee. Digital banks often charge €0 on basic plans; traditional banks typically charge between about €2 and €15 per month. Under-30s often get it waived — always ask.
- Imposta di bollo — a mandatory government stamp duty of €34.20 per year that applies if your average daily balance exceeds €5,000 over the year. It is charged by the bank on the state's behalf; there is no way around it at any Italian bank.
- ATM fees — withdrawing cash from an ATM not owned by your bank's network can cost roughly €1–3 per transaction. Use your own bank's bancomat network where possible.
- Bonifico costs — a standard online SEPA transfer (bonifico) is usually cheap or free, but ask about the cost of bonifico istantaneo (instant SEPA transfers): some banks charge per instant transfer. International SWIFT transfers outside the eurozone are typically expensive at traditional banks — use Wise or a specialist instead.
Because tariffs change often, treat every fee on this page as a snapshot: check the provider's current fee schedule before you apply.
Why your IBAN should start with IT: IBAN discrimination
Under EU SEPA rules, no company in the eurozone may refuse a valid IBAN just because it starts with a different country code — IBAN discrimination is illegal. In practice, Italy is one of the countries where expats still run into it: some employers' payroll systems, landlords and utility billing portals quietly reject non-Italian IBANs or make payment setup painful.
You can fight those cases (and win), but the pragmatic move is to avoid the fight: get a real Italian (IT) IBAN from Intesa, UniCredit, Fineco, BNL or Poste, and keep your N26/Revolut/Wise accounts for everything else. An Italian IBAN also removes friction with the tax office, INPS (social security) and any government refund owed to you.
How your money is protected: the FITD guarantee
Deposits at Italian banks are protected by the Fondo Interbancario di Tutela dei Depositi (FITD) — Italy's deposit guarantee fund — up to €100,000 per depositor per bank, the same EU-wide level as everywhere else. This covers current accounts, savings accounts and deposits at licensed banks including digital-first ones like Fineco. Keep balances per bank under the €100,000 limit if you hold large amounts, and remember that investment products are not covered by the same guarantee.
Freelancers (partita IVA) and retirees: special cases
Freelancers: if you invoice clients in Italy you will need a partita IVA (VAT number), and you should open a separate business current account (conto corrente business) to keep taxes clean. Banca Sella is worth a look for internationally active freelancers — it is known for cross-border tools and business-friendly services — alongside the business offerings of Intesa and UniCredit. Electronic invoicing (fattura elettronica) is mandatory in Italy, so pick an account whose online banking exports statements in formats your accountant accepts.
Retirees: you will mostly need a reliable Italian account for pension transfers and local spending — Intesa or UniCredit plus a Wise account for receiving pensions in foreign currency is the common setup. Italy also offers special tax regimes for new residents (including a well-known flat-tax option); the details change with each budget law, so discuss them with a tax advisor (commercialista) rather than a bank.
Italian branch culture: what to expect
- Appointments are normal: many branches still expect you to book an appointment for account opening — walk-ins for new accounts are often turned away.
- August is slow: many branches run reduced hours in August, and your account manager may be on holiday. Try to finish account setup before or after the summer break.
- Bring paper: even "digital" onboarding at traditional banks can end with printed forms to sign in branch. Bring your passport, codice fiscale and proof of address to every appointment.
- SPID helps: SPID — Italy's public digital identity — is increasingly asked for during online onboarding. Set it up early; otherwise branches can verify you in person instead.
- Language reality: outside Rome, Milan and Florence, expect Italian-only service at traditional banks. The app may be in English even when the branch is not.
How to choose: a 3-question shortcut
- Do you need an Italian IBAN before you arrive? → Start with a non-resident account at Intesa Sanpaolo, or open N26 in English first (EU address needed) and switch after arrival.
- Do you want branches everywhere plus English support in big cities? → Open Intesa Sanpaolo (biggest network) or UniCredit (international, good for mortgages later).
- Do you want to skip branch bureaucracy but keep an Italian IBAN? → Open Fineco — digital-first with an Italian IBAN and investment accounts.
And almost everyone benefits from keeping Wise or Revolut alongside for cheap currency conversion — see our money transfer guide for the full picture.
Practical tips for expats opening an Italian account
- Get the codice fiscale first: request it at an Italian consulate before you move — it unlocks bank accounts, rentals and the health system.
- Insist on an Italian IBAN: IBAN discrimination is illegal under EU rules, but an IT IBAN avoids the argument with employers, landlords and billers entirely.
- Budget for the imposta di bollo: €34.20/year applies at every Italian bank once your average balance tops €5,000 — factor it into "free account" comparisons.
- Run the hybrid setup: an Italian account for salary, rent and domestic bills + an app bank (N26/Revolut) or Wise for currency and transfers home.
- Your money is protected: the FITD deposit guarantee covers up to €100,000 per depositor per bank at licensed Italian banks.
- Fees change: canone, card costs and transfer fees are revised regularly. Check each provider's current tariff page before you apply.