Banking In Italy

Banking in Italy is different to many countries, it’s rare you don’t pay to have a bank account here. Many banks only allow you free banking if you pay in a certain amount of money or hold a certain amount with them in mortgages etc. Nearly all the big banks advertise free accounts for new people but there is nearly always a catch, it may only last a year for example. So be wary when looking around.

Unicredit one of the biggest banks in Italy offer a free account, that offers everything you could ever need from a bank account, plus lots of ATM’s and branches if you ever need help. With an added bonus you can use the app in English and some of the website can be viewed in English.

Wise is not an Italian bank but works well in Italy, you can open an account in Italy and get a card and have normal banking features like ATM withdrawals, bank payments and so on. They have an added bonus of digital debit cards as well as physical ones, so great to protect yourself. Wise is digital only so there are no branches. But you can deposit, using Google or Apple Pay, Bank Transfers, direct deposits and so on, so you are not really restricted in it’s use.

There are other banks you can use, but the above two work well, ideally having both, so you have the flexibility of Wise with its cheap currency rates combined with the more traditional Unicredit.

Some other banks that work well in Italy are Revolut, the Post Office also offer a number of account, many you pay for, but you have the added advantage of thousands of post officers and ATM’s. Fineco offer a good account plus they have support in English but the app is complicated, the support can be hit and miss, plus the fee free period only lasts a year.