Ciao and welcome to Italy. Whether you’re here for lavoro (work), real estate, or simply exploring Europe, finding the right Italian bank is crucial.
For your convenience, we’ve compiled a list of top Italian banks that have been trending in recent years for newcomers.
1. UniCredit
- Location: Headquartered in Milan, with branches spread all over Italy and other parts of Europe.
- Services: Offers a variety of financial services including current account and savings account options, credit card, and debit card services.
- Language: English-friendly, assisting American, Dutch, French, and German expats feel at home.
- Online Banking: Accessible and user-friendly online banking platform.
2. Intesa Sanpaolo
- Location: Based in Turin with a strong presence across many Italian cities, including Rome.
- Services: Known for competitive interest rates on various accounts.
- International Banking: One of the best banks for international dealings and money transfers.
- Extra Perks: Offers services in various languages, including English.
3. Banca Nazionale del Lavoro (BNL)
- Location: Headquartered in Rome, with bank branches throughout Italy.
- Services: Offers a conto corrente non residenti for non-residents.
- Language Assistance: English services available for expats.
- ATMs: Plenty around, especially in major cities.
4. Banco BPM
- Location: Formed from a merger between Banca Popolare di Milano (BPM) and Banco Popolare, it has offices in Milan and is accessible in many Italian cities.
- Card Services: Offers Visa credit and debit card services.
- Friendly for Non-Residents: Provides options for those without a codice fiscale.
- Expat Friendly: English services available.
Getting Started
To open an Italian bank account, here’s what you generally need:
- Codice Fiscale: An Italian tax code, essential for all financial activities, required for residents and non-residents staying in Italy for more than 183 days in a year.
- Proof of Address: Usually a utility bill or rental agreement.
- ID: Passport or another form of identification.
European Union residents might have different requirements compared to non-EU members.
International Money Transfers and Exchange Rates
Whether you’re from the United States, the United Kingdom, Germany, or any other country, you might need to transfer funds.
Check the exchange rates and consider online platforms for money transfers, such as Remitly. Our app is trusted by millions of people around the world.
Banking Sector in Italy
- Major Banks: Apart from the Italian ones mentioned, Deutsche Bank, a significant German bank, also operates in Italy.
- Central Bank: Banca d’Italia is the central bank, overseeing the banking sector and ensuring a high level of consumer protection.
- Regulations: Italy adheres to European Union banking regulations, ensuring safety, reliability, and consumer protection.
Conclusion
Italy offers a variety of banking options for newcomers. Whether you’re looking for a bank with numerous ATMs, excellent online banking, or one that offers services in English — Italy has it all.
Before settling on a bank, check the interest rate on savings accounts and the availability of credit and debit cards. And most importantly, enjoy your time exploring everything from the historic city of Rome to the fashion capital Milan. Welcome to Italy.