Banking

Steps

1. Get your codice fiscale (sheet IT-NIF-TOUS-001). EURES points out that it is required to open an account.
2. Compare before you sign. The bank must give you, free of charge and without commitment, the Foglio informativo (terms and costs), the Documento informativo sulle spese (with the overall cost indicator, ICC) and the Documento di sintesi. The contract cannot be less favourable than these documents.
3. Open the account. The bank checks your identity and the purpose of the account. Choose to receive statements by email: often free, whereas paper mail is charged.
4. If you are refused an account or it is too expensive, ask for a conto di base. You are entitled to one if you are a consumer legally resident in Italy or in another EU country and you do not already have a payment account in Italy. It includes transfers, receipt of salary or pension and a debit card, with no overdraft. The bank (or Poste Italiane) can only refuse it if you do not meet these conditions or if it seriously suspects illegal use of the account (anti-money-laundering).
5. In case of a dispute: written complaint to the bank (reply within 60 days, 15 working days for payments), then, if you are not satisfied with the reply, an online appeal to the ABF (Arbitro Bancario Finanziario, banking ombudsman attached to the Banca d'Italia).
6. For a mortgage (mutuo):
   • ask several banks for the PIES sheet (Prospetto Informativo Europeo Standardizzato) and compare the APR (TAEG, which does not include notary fees);
   • provide the proof of income and documents on the property listed in the bank's general information sheet; the property is valued (perizia);
   • when you receive the binding offer, you have at least 7 days to think it over (you may accept before then);
   • you choose the notary; the funds are generally paid out a few days after signing.
7. First purchase: ask your bank whether you can benefit from the public guarantee of the Fondo prima casa (managed by Consap for the Ministry of Economy). The application is made at the bank, together with the loan application.

Documents

• Valid identity document (passport or identity card).
• Codice fiscale.
• What the bank asks for on top of that: the Banca d'Italia does not set a list; it only points out that the bank must be able to verify your identity and the intended use of the account. Depending on the bank, this may be proof of address, income or residence: ask yours for the list.
• Free conto di base: ISEE certificate (economic situation indicator) currently valid, to be renewed every year before 31 May; for a pensioner, proof of the amount of the pension.
• Mortgage: proof of income, compromesso, documents on the property (previous deed of ownership, permit, habitability certificate, etc.).
• Fondo prima casa, non-EU national: passport and residence permit.

Costs and timelines

• Conto di base 2026: "contained" annual fees set by each bank; free, stamp duty included, if your ISEE is below €11,600; for a pensioner whose pension is below €18,000 gross per year, free except for the €34.20 annual stamp duty (Ministry of Economy decree no. 70/2018). The €18,000 is gross, thirteenth month and additional monthly payments included; the bank checks your declaration against the certificate from your pension fund (Ministry of Economy FAQ). The amount of the annual fees varies from one bank to another: compare the fogli informativi (fee sheets) before opening.
• Refusal of a conto di base: if the bank refuses because it suspects illegal use of the account, it must tell you immediately and give you its reasons within 10 working days at the latest (Banca d'Italia). A refusal because a condition is missing must also be justified (Ministry of Economy). You can challenge it with a complaint, with an esposto (report) to the Banca d'Italia or with an appeal to the ABF.
• Closing an account: possible at any time, generally free of charge. 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.
• Mortgage: up to 80% of the property value set by the valuation in general (Banca d'Italia); EURES for its part states up to 75% of the purchase price: ask the bank for its exact ceiling. Above 80%, additional guarantees (often a personal guarantee) and less favourable terms. Early repayment and transfer of the loan to another bank (surroga): without penalty.
• Fondo prima casa (2026): public guarantee of 50% of the principal, higher for priority categories (under 36, young couples, single-parent families, social housing tenants, large families below an ISEE ceiling, etc.) when the loan exceeds 80% of the price; reinforced conditions extended until 31 December 2027; loan of €250,000 at most; Consap replies to the bank within 20 days. Since 3 August 2026, people with a recognised permanent disability and members of a household that includes a disabled relative are also covered, with an 80% guarantee if their ISEE does not exceed €40,000 (law no. 116 of 2 July 2026).
• ABF appeal: €20; claim of €200,000 at most; within 12 months of your complaint.

Common pitfalls

• Arriving without a codice fiscale. It is the first obstacle when opening an account: request it as soon as you arrive, or even at the consulate before you leave.
• Accepting a refusal for your foreign IBAN. If the organisation accepts SEPA direct debits and transfers from an Italian account, it must accept your account from another EU country. You can complain to the competent authority in the organisation's country.
• Opening a conto di base when you already have an account in Italy. It is reserved for those who do not have one.
• Signing the loan offer without comparing. The 7 days to think it over are for that, and the offer cannot differ from the PIES without informing you.
• The patto marciano. This clause allows the bank to take back the property after 18 unpaid monthly instalments without going through a judge; it cannot be imposed on you, and you are entitled to free advice if the contract contains it.
• The Fondo prima casa if you already own a home elsewhere. It is reserved for those who do not own another home, including abroad (limited exceptions for certain inherited properties).

What changes by country of origin

• EU and EEA citizens: right to the conto di base as soon as they are legally resident in the EU; protection against IBAN discrimination between EU countries (Your Europe refers to an account located in another EU country).
• Swiss and British nationals (Scots included): the conto di base is open to people who are legally staying in Italy or in the EU, which for them presupposes a right of residence (sheet IT-SEJOUR-TOUS-001). The ban on discriminating against an IBAN, as Your Europe describes it, covers an account located in another EU country (the page names neither Switzerland nor the United Kingdom): an Italian organisation can therefore probably refuse to debit your Swiss or British account. Plan on an account in the EU for your direct debits (rent, energy, phone).
• Non-residents who borrow: no public rule sets criteria specific to non-residents. Each bank assesses your creditworthiness in its own way (income, deposit, guarantees): ask several banks for their conditions and their PIES (European information sheet) before signing the compromesso.