A list of banks in Italy

Interested in opening a new bank account in Italy? Perhaps you’ve just relocated, and are looking for the easiest way to manage your finances.

Finding an Italian bank account may be one of the first things you’ll wish to do when you move. Only which one do you choose and how do you go about opening an account?

Read on, as we’ve put together a list of top banks in Italy, the account types available and some helpful info on how the Italian banking system works.

We’ll even show you an alternative to a bank which could save you money - the Wise account.

So, let’s begin with a general look at banking in Italy.

Banking in Italy (an overview)

The banking system in Italy consists of the national central bank, Banca d’Italia, and a mix of commercial and non-commercial domestic, international and digital banks.

There are around 200 different banks in Italy, and nearly 24,000 total branches as of 2020.¹

Opening an Italian current account is usually free, but you’ll most likely need to wait until you’ve moved to the country to do so.² This is because you’ll be asked to present physical copies of your documentation.

Documents you can expect to bring with you include:¹

• Photo ID (e.g. your passport or driver’s licence)
• Italian tax number
• Residence permit

There are many ATMs/Bancomats available in Italian cities and towns. They don’t charge usage fees for withdrawals from domestic accounts (if the account is part of the ATMs network). But note, when making withdrawals from overseas accounts there are often transaction fees and currency exchange charges.¹

And like banks in other countries, Italian banks tend to charge high fees for international transfers outside of Europe.

To avoid these expensive fees, consider using an alternative such as the Wise account. It’s ideal for international transactions, and could help you save money during your move abroad.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Top 5 popular banks in Italy

Now, let’s take a look at some of your options when it comes to choosing a bank in Italy. Here are some of the biggest and most popular Italian banks frequently chosen by expats:

Bank name	Operational HQ
Intesa Sanpaolo	Turin
UniCredit	Milan
Poste Italiane	Rome
BNL, Banco Nazionale del Lavoro	Rome
ING Italia	Milan

Intesa Sanpaolo

Intesa Sanpaolo is the largest Italian bank. It’s a market leader, with an extensive branch network throughout the whole country, and an international presence too.³

Intesa Sanpaolo offers a wide range of current and savings accounts, along with credit cards, mortgages and insurance products. You can also make digital payments with their handy mobile banking app.

To manage your finances, you can choose between a Basic Bank Account to meet your everyday needs, or the XME Account which comes with extra features. Both accounts do have a monthly charge.

UniCredit

UniCredit is another big name in the Italian banking market. It offers customers a range of current accounts and savings products, as well as credit cards, prepaid cards, mortgages and insurance solutions.

Like Intesa Sanpaolo, it also has a mobile banking app allowing you to make quick and convenient payments on your smartphone.

UniCredit’s My Genius Green account is a zero fee current account. It’s online only and paperless, making it zero waste too.⁴

Poste Italiane

The Italian postal service also provides popular banking services. This includes current accounts, credit cards, savings, insurance and pensions products.

If you open its BancoPosta account, you get the flexibility of choosing from five different account types to suit your needs. These are:

• Start Youth (for the under 30s)
• Start
• Medium
• Plus
• Premium.

While this account comes with a monthly fee, there are options to waive or reduce it. You can also manage your money however you like - at the post office, at an ATM, using online banking or the BancoPosta app.

BNL, Banco Nazionale del Lavoro

Another bank with a strong presence on the Italian high street is Banco Nazionale del Lavoro. This bank is part of the French group BNP Paribas.

It provides expert personal financial services, including savings and investment products, mortgages and credit and debit cards.

It offers a range of current and savings account packages called modules. A big draw is that its SMART Module is free until your 30th birthday.⁵

ING Italia

ING Italia comes under the Dutch owned banking group ING Group. This bank offers a full range of financial products and services. This includes current accounts, savings and investment products, mortgages and insurance options.

ING lets you manage your money digitally, but also provide a 24/7 telephone banking service. It only has 23 physical points though, so may not be for you if you want in-person support.

The bank’s Orange Account has zero fees and the option to add a Zero Constraints Module. This opens the door to other benefits like lower cost cash withdrawals and SEPA transfers.⁶

Top online bank accounts in Italy

Along with traditional banks, you can choose to bank online in Italy. Online only options include:

• Fineco Bank - a popular online banking specialist. Money management is quick and convenient using its digital tools and mobile app. Yet, the company also provides in-person customer service. If you’re under 30, you can take advantage of some extra benefits. For example, you don’t have to pay an account fee and will receive more favourable conditions when saving and investing.⁷
• Revolut The app-based Revolut offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.

Manage your money internationally? Check out the Wise account

If you want to send money overseas, or use your debit card for holiday spending, you could find it expensive with an Italian bank.

So, it’s good to be aware that there’s a money-saving alternative available. Open a Wise account, and you can send money worldwide, to 150+ countries, for low fees and great exchange rates.

You can even get an international debit card for spending in 150+ countries, including Italy and Europe. This clever card automatically converts your money to EUR at the mid-market exchange rate and a low conversion fee, whenever you spend.

This makes it ideal for expats and anyone else who regularly travels abroad.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. Expatica - Guide to Italian Banks and Services
2. Expatica - Open an Italian Bank Account
3. Statista - Leading Banks in Italy by Market Capitalization
4. UniCredit - My Genius Green Current Account
5. BNL - BNL SMART Module
6. ING - ING Orange Current Account
7. Fineco Bank - Fineco Bank

Sources last checked on date: 01-Aug-2023