You can arrive in Italy with a foreign card and survive for a few weeks. Sooner or later, though, the electricity supplier will want a direct debit, your landlord a bank transfer and your employer an IBAN. Opening a bank account in Italy is not hard, and EU rules protect you in more ways than most newcomers know.
What do you need to open a bank account in Italy?
Two things in practice: valid identification (passport or ID card) and a codice fiscale. Get it first; it is the usual blocker (how to get it). The Bank of Italy does not fix a list of other documents. It says only that the bank must verify who you are and what the account will be used for. Depending on the bank, you may be asked for proof of address, income or residence, so ask for the list before you go.
Before you sign, the bank must give you, free and without commitment, three documents: the Foglio informativo (terms and costs), the Documento informativo sulle spese (fees, with a total cost indicator) and the Documento di sintesi (summary). The contract cannot be less favourable than those documents. Choose e-mail statements: paper ones usually cost extra.
What is the conto di base?
If you are refused an account, or the offers are too expensive, you may have a right to a conto di base. You qualify if you are a consumer legally resident in Italy or another EU country and you do not already have a payment account in Italy. It comprises transfers, salary or pension credit and a debit card, with no overdraft. The bank (or Poste Italiane) can refuse only if you do not meet the conditions or for anti-money-laundering reasons, and it must answer in writing within 10 working days.
In 2026, the annual cost is set by each bank but is free, stamp included, if your ISEE (economic situation indicator) is below €11,600. A pensioner with gross pension under €18,000 a year pays only the €34.20 yearly stamp. The €18,000 is a gross figure including extra monthly payments. For the free version you will need a valid ISEE certificate, renewed each year before 31 May.
Banking is full of terms that look alike: ISEE, ICC, TAEG, PIES. If you are not sure which account suits you, or how to compare offers once you have the information sheets, Moovy, Hello Expat's AI assistant, can explain the terms in plain English and tell you what to ask each bank. It does not open accounts or choose a bank for you.
Can you keep your foreign account and avoid IBAN discrimination in SEPA?
Yes, and EU law supports you. If an Italian organisation accepts direct debits and transfers from Italian accounts, it must accept your account number from another SEPA-area EU country, and you can complain to the authority of the organisation's country if it refuses.
The protection stops at the EU's edge. According to Your Europe, it does not cover Swiss or British accounts, so an Italian utility can refuse to debit them. If you come from the UK or Switzerland, keep an EU account for rent, energy and phone. Our article on moving to Italy from the UK covers the broader picture.
How do you change bank, close an account or complain?
- Closing: possible at any time, usually without fees.
- Switching banks in Italy (portabilità): free, 12 working days once the file is complete; €40 compensation plus a surcharge if the bank exceeds the deadline.
- Complaints: write to the bank, which must answer within 60 days (15 working days for payments). If the answer does not satisfy you, you can appeal to the ABF, the banking ombudsman attached to the Bank of Italy: €20 fee, claims up to €200,000, within 12 months of your complaint.
How do mortgages work for expats?
The loan is called a mutuo. In general a bank lends up to 80% of the property value; above that, it wants more guarantees, often a personal guarantor, and the terms get worse. The bank gives you a standard European information sheet, the PIES, which lets you compare offers: collect it from several banks and compare the APR (TAEG), noting that it does not include notary fees. The property is appraised (perizia), and once you receive the firm offer you have at least seven days to reflect, though you may accept earlier. Early repayment and transferring the loan to another bank (surroga) carry no penalty.
For first-time buyers, ask whether you can use the state-backed Fondo prima casa (run by Consap): a 50% public guarantee on the capital, higher for priority categories when the loan exceeds 80% of the price, with enhanced conditions extended to 31 December 2027, a loan ceiling of €250,000 and a Consap answer within 20 days. It requires that you do not own another home, including abroad, with limited exceptions.
No public rule fixes special criteria for non-residents who borrow: each bank judges your solvency in its own way, so ask several banks for their conditions before you sign any preliminary contract. The purchase side is in buying property in Italy.
What traps should you avoid?
- Arriving without a codice fiscale.
- Accepting a refusal on your foreign IBAN when the organisation accepts Italian ones.
- Opening a conto di base when you already have an Italian account. It is for those without one.
- Signing the loan offer without comparing it with the PIES.
- The patto marciano. This clause lets the bank take the property after 18 unpaid instalments without going to court. It cannot be imposed on you, and you are entitled to free advice if your contract contains it.
If you are paid in Italy, working in Italy explains what to check in the contract.
What happens when you open a bank account in Italy?
At the branch or online, the bank checks your identity and asks what the account is for, as anti-money-laundering rules require. This is routine: be ready to say whether the money will be a salary, a pension or savings, and where it comes from. The bank then offers its account contract, which must follow the information documents you were given, and sets up a debit card and online access.
Take the opportunity to set up what you will need next: a standing order or direct debit for your rent, a debit mandate for utilities, e-mail statements instead of paper ones, and the alert settings for card payments. Ask if the account supports instant transfers and what each outgoing payment costs, since the answers differ between banks and tariffs.
What if the bank refuses to open an account?
The first thing to find out is why. A bank may decline for reasons linked to anti-money-laundering checks, or because you do not meet the conditions of a particular product. If you are a consumer legally resident in the EU and have no payment account in Italy, you still have the right to a conto di base, and the bank (or Poste Italiane) must give a reasoned written answer within 10 working days if it refuses. A refusal because you are "not Italian" or "not resident in Italy" does not fit the rules for the basic account, which covers legal residence anywhere in the EU.
If you think the answer is wrong, send a written complaint to the bank, wait the 60 days, and then you can turn to the ABF. Keep copies of everything. For anyone moving from outside the EU, such as the UK or Switzerland, the right depends on legal stay, which is why moving to Italy from the UK puts the residence permit first.
How do SEPA rules protect your IBAN from outside Italy?
The EU's single euro payments area, SEPA, means a transfer in euros between EU accounts works like a domestic one, and the IBAN discrimination rule prevents an organisation that accepts domestic direct debits from refusing one tied to a foreign EU account. In practice that covers many landlords, energy suppliers, phone operators and insurers. If one refuses, quote the rule, then file a complaint with the competent authority of the organisation's country.
Do not rely on that for non-EU accounts. Your Swiss or British bank account may work for transfers, but an Italian business can legitimately say no to debiting it. Keep one account in the euro area to pay your fixed bills, and use the other for what it is good at.