Banks in Italy for Residents and Non-Residents

Italy has a well-developed banking system with a wide range of options for residents and non-residents.

Banks in Italy are highly regulated, with the Bank of Italy being the central bank and supervisor of the entire banking system.

Italian banks offer a variety of services, including current accounts, savings accounts, and loans.

For non-residents, some banks in Italy offer specialized accounts and services, such as the "Non-Resident Account" offered by UniCredit.

So, you're looking to bank in Italy and want to know which banks are the most popular. Let's take a look at the top 5 banks in Italy.

Intesa Sanpaolo is one of the biggest and most popular banks in Italy, with its operational HQ located in Turin.

UniCredit is another major player, with its operational HQ in Milan.

Poste Italiane is a well-known bank with its operational HQ in Rome.

BNL, Banco Nazionale del Lavoro, is also based in Rome.

ING Italia rounds out the top 5, with its operational HQ in Milan.

Here are the top 5 banks in Italy, listed in a table for easy reference:

Italian banks offer a range of services to their customers, making banking convenient and accessible.

Online banking is a standard service provided by Italian banks, allowing customers to manage their accounts and transactions from the comfort of their own homes.

Automated utility bill payment is also a standard service, making it easy for customers to pay their bills on time.

Some banks offer overdrafts, credit cards, and chequebooks as additional services with their current account offerings, providing customers with more flexibility and options.

These services are designed to make banking in Italy easy and hassle-free, even for those who are new to the country.

Banco BPM is a great option for those looking for banking services in Italy. It's formed from a merger between Banca Popolare di Milano (BPM) and Banco Popolare, with offices in Milan and accessibility in many Italian cities.

One of the advantages of Banco BPM is that it offers Visa credit and debit card services, making it easy to manage your finances on the go. You can use these cards to make purchases, withdraw cash, and pay bills.

If you're a non-resident in Italy, Banco BPM provides options for those without a codice fiscale, making it a more inclusive banking service. This means you can still open an account and access their services even without a tax code.

Banco BPM also offers English services, making it easier for expats to navigate their banking needs. This is a huge plus for those who may not speak Italian fluently.

In the banking sector, you'll find a mix of local and international players. Deutsche Bank, a significant German bank, operates in Italy alongside local banks.

Banca d'Italia is the central bank, overseeing the banking sector and ensuring a high level of consumer protection. This is crucial in maintaining trust and stability in the market.

Italy adheres to European Union banking regulations, which ensures safety, reliability, and consumer protection. These regulations are in place to safeguard your financial interests.

Italian companies offer a range of services to their customers, including online banking, which is a standard service provided by Italian banks. This allows customers to manage their accounts and conduct transactions from the comfort of their own homes.

Automated utility bill payment is another standard service offered by Italian banks, making it convenient for customers to pay their bills on time. Some banks will also provide overdrafts, credit cards, and chequebooks as additional services with their current account offerings.

These services are designed to make banking easier and more convenient for customers, allowing them to manage their finances with ease.

If you spend more than 183 days a year in Italy, you're considered an Italian resident.

As an Italian resident, you can access various bank accounts, starting with the Conto corrente (current account), which is the most common account for day-to-day transactions.

You also have the option of a Conto corrente cointestato (joint account), which is a form of current account that you share with someone else.

Another savings option is the Conto di risparmio (savings account), which earns you higher interest than the current account.

If you want to earn greater interest, you can consider the Conto di deposito (deposit account), a more restrictive type of savings account.

Here are some of the bank accounts available to Italian residents:

Most Italian banks aren't open on weekends.

You can expect to find banks open between 15:00 and 16:30 in the afternoon.

This limited schedule is due to the Italian work culture.

It's worth noting that these hours may vary slightly depending on the specific bank.

Online banking in Italy offers a convenient alternative to traditional banking methods. You can choose from online only options like Fineco Bank, which provides digital tools and a mobile app for quick and easy money management.

Fineco Bank is a popular online banking specialist that also offers in-person customer service. If you're under 30, you can take advantage of some extra benefits, such as no account fee and more favorable conditions for saving and investing.

Revolut is another app-based online banking option that offers a choice of monthly plans, including a free Standard plan. All plans include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.

Fineco Bank offers a range of benefits for young people, making it a great option for those under 30. You can bank online, manage your money with ease, and enjoy extra perks and features.

Here are some online banking options in Italy:

Anyone above the age of 18 can open a bank account in Italy.

To open a bank account in Italy, you'll need to consider your residence status, as non-residents have limited banking features. Non-residents can only open a current account in Italy, specifically a conto corrente non residenti (non-resident current account) or conto estero (offshore current account).

Opening an account online can be a convenient option, but it's not always possible. Unless the bank operates entirely online, like some digital banks, you can't open an account online because the bank needs to verify your identity and documents in person.

Some banks, such as N26 or Revolut, allow you to open an account online, but this is the exception rather than the rule.

Opening a bank account in Italy as a non-resident can be a bit tricky, but it's definitely doable. You can only open a current account, specifically a conto corrente non residenti (non-resident current account) or conto estero (offshore current account).

To be considered a non-resident, you must spend less than 183 days a year in Italy or not have a permanent place of residence in Italy. This is a pretty straightforward rule, and it's essential to understand it before applying for a bank account.

You'll need to provide some specific documents to open a non-resident bank account in Italy. These documents include a valid identification document, your codice fiscale, proof of address, and proof of employment or enrolment.

Some banks may also require you to transfer a certain amount of money to your new account upon opening it. Be sure to do your research in advance to avoid any unexpected surprises.

Here's a quick rundown of the types of accounts you can open as a non-resident in Italy:

Remember, these accounts are specifically designed for non-residents in Italy who want to manage and collect payments in Italy.

Opening a bank account in Italy is a relatively straightforward process, and the good news is that there aren't any fees for opening a bank account in Italy.

You may be required to pay maintenance fees for your account, which can vary significantly between banks. Some banks may request a payment of about €30 for a credit card or €12 for a debit card.

Maintenance fees for your account can add up, so it's essential to shop around and find the bank and account that works best for you.

If you're looking to bank in Italy, you'll want to know about the biggest banks in the country. Intesa Sanpaolo is the largest bank in Italy, with total assets of 975.68 billion euros.

UniCredit is another major bank in Italy, with total assets of 857.77 billion euros. It's also a global systemically important bank, identified by the Financial Stability Board. This means it's closely monitored by the European Central Bank.

The top 5 popular banks in Italy, chosen by expats, include Intesa Sanpaolo, UniCredit, Poste Italiane, BNL, and ING Italia. These banks have operational headquarters in major Italian cities like Turin, Milan, Rome, and Milan.

Here are the top 5 banks in Italy by total assets, according to Mediobanca:

These banks are all supervised by the European Central Bank, which provides an added layer of security for customers.

Milan is home to several prominent banks, including Banca Popolare Di Milano, which is located at Largo Cairoli, 2a, and provides traditional financial and banking services.

Banca Popolare Di Milano is just one of the many banks with a presence in Milan, and you can reach them on +39 02 85801.

Mediobanca, another notable bank in Milan, specializes in financial credit, structured, asset and corporate finance, and capital equity market. You can find them at Piazzetta E. Cuccia, 1, and their phone number is +39 02 88291.

San Paolo, also known as Intesa Sanpaolo, has two addresses in Milan: Via Maffeo Bagarotti, 5, and Via Monte di Pietà, 8. Their phone numbers are +39 02 47998511 and +39 02 879 11 respectively.

UniCredit, a leading European commercial bank, has its head office in Milan at Piazza Gae Aulenti, 3 (Tower A), and you can reach them on +39 02 88621.