Banks in Italy: The 10 Best Banks for Foreigners in 2025

Banks in Italy are part of a system that includes, large national banks, regional banks, and international institutions, which are all regulated to ensure they are secure and reliable. Opening a bank account in Italy has many advantages, such as easy access to online and mobile banking, safe payment methods, and support for both residents and foreigners.

Having a local bank account makes it easier to receive payments, pay bills, and manage daily expenses. Understanding how banks operate in Italy will help make your transition better and your financial management more effective.

This guide will explain in detail how the banking sector works in Italy, the requirements to open a bank account, how to open a bank account, a list of some of the best banks in Italy, and more. This is what will be covered:

• Why open a bank in Italy?
• How the Banking System Works in Italy
• Requirements to Open a Bank Account in Italy
• Types of Banks with Services for Foreign Nationals
• Top 10 Banks in Italy for Foreigners
• 5 Top International Banks in Italy
• How to Open a Bank Account in Italy
• Bank Fees in Italy

Why open a bank account in Italy?

Opening a bank account in Italy offers numerous advantages, particularly for expats, business owners, retirees, and long-term travelers. Italy has a well-established and secure banking system that provides access to a wide range of financial services, including online and mobile banking, investment tools, and international transfers.

Additionally, having an Italian bank account makes it easier to handle recurring expenses like paying for rent, utilities, and day-to-day expenses, especially since many landlords and service providers prefer local bank transactions. It’s also important to receive a salary if you work in Italy or to manage pension payments. Furthermore, a local account reduces foreign transaction fees and currency conversion costs, making it more affordable to manage your finances.

Italian banks have specially tailored financial products and credit solutions for those looking to invest or start a business. Moreover, opening a bank account may support your residency process by demonstrating financial stability.

How the Banking System Works in Italy

The Bank of Italy is the country’s main financial institution and central bank. It regulates and oversees the Italian banking sector and is part of the European Central Bank (ECB), which influences monetary policy for the eurozone.The Italian banking system comprises three main types of banks: commercial banks, savings banks, digital banks, regional and national banks, and investment institutions.

Commercial banks

Commercial banks offer various financial services, including creating and maintaining current accounts, savings accounts, loans, credit cards, and debit cards. Major Italian banks such as Intesa Sanpaolo and UniCredit are the most dominant ones in this area. This type of bank is meant to facilitate everyday banking transactions and provide simple solutions for businesses.

Saving banks

Savings banks (Casse di Risparmio) are a separate type of bank in Italy that aims to promote savings among its customers. Despite having different financial products, their most attractive packages include savings accounts with competitive interest rates. These banks operate and serve communities on a provincial or regional basis.

Investment institutions

Investment institutions in Italy, including private and chartered banks, primarily focus on financial services for corporations and high-net-worth individuals. Typically, these institutions offer packages that include services such as asset management, securities trading, and corporate finance advisory. These institutions help capital markets and companies gather funds by issuing stocks and bonds. They also offer consulting services, such as advice on mergers and acquisitions.

Digital banks

Digital banks in Italy usually don’t have physical agencies, as they’re focused on technology and online services. These banks offer innovative financial services and products, apart from being more cost-effective than traditional banks.

Regional banks vs. national banks

The key difference lies in their focus. Regional banks serve specific areas and mainly offer basic services for individuals. In contrast, national banks operate across all of Italy, offering a wider range of services for both individuals and businesses. Their customer approach and service options reflect these different goals.

Requirements to Open a Bank Account in Italy

Most banks require in-person visits to open an account. However, some banks allow you to open an account online, especially if you already live in Italy. It’s helpful to speak some Italian or bring someone who does since not all bank staff speak English.

• Valid ID – A passport or EU national ID card.
• Tax Code (Codice Fiscale) – This is like a personal tax number. You can get it from the Italian Tax Office (Agenzia delle Entrate).
• Proof of Address – A rental contract, utility bill, or official letter that shows where you live.
• Residence Permit (if needed) – Non-EU citizens may need to show their permesso di soggiorno (residence permit).
• Proof of Employment or Income (sometimes) – Some banks might ask for a job contract, payslip, or proof of income, especially for certain account types.
• Minimum Deposit – Some banks require a small initial deposit to open the account.

Types of Banks with Services for Foreign Nationals

If you’re a digital nomad, expat, or foreigner planning to live or work in Italy, whether on an Italy Golden Visa, Italy Elective Residency Visa, Italy Digital Nomad Visa, or another type of long-term stay, opening a local bank account is an important step. Having a bank account in Italy makes managing daily expenses, paying bills, and receiving income much easier. Depending on your needs, preferences, and language skills, you can choose from different types of banks that serve foreign nationals.

Top 10 Banks in Italy for Foreigners

1. UniCredit

UniCredit is one of Italy’s largest banks. It offers extensive services specially tailored to expats, including English support and a wide branch network across the country.

2. Intesa Sanpaolo

The Intesa Sanpaolo is known for its strong digital banking services and customer service. The financial institution is popular among foreigners, students, and workers for easy account management.

3. N26

The N26 is a leading neobank with a fully digital experience. N26 is ideal for foreigners who prefer managing their accounts entirely online with low fees and multilingual support.

4. Revolut

Revolut is favored for international money transfers, multi-currency accounts, and low-cost services, making it a great choice for expats and travelers.

5. BNP Paribas

As an international bank operating in Italy, BNP Paribas provides advanced financial products and multilingual customer service, perfect for those who require cross-border banking.

6. Banco BPM

Banco BPM is one of Italy’s top banks, known for great customer service and customized financial solutions for individuals and businesses. It offers current and deposit accounts to help manage money easily. Its YouApp mobile app uses voice commands, fingerprints, and facial recognition for quick access. The bank also stands out with its T3 trading platform, giving easy access to global markets.

7. Cassa Depositi e Prestiti (CDP)

CDP is a state-owned bank that funds Italy’s infrastructure and economic projects. It mainly supports public investments and loans to local governments. If you’re interested in large-scale projects, CDP is the go-to bank. It offers an online platform to manage funding requests and projects, with a mobile app coming soon.

8. BPER Banca

BPER Banca is a regional cooperative bank focused on community and customer care. It provides savings accounts, loans, and investment services with personalized financial advice. Its online platforms make managing accounts and transactions easy and fast.

9. Mediobanca

Mediobanca is a leading bank for corporate finance and wealth management, serving big companies and wealthy clients. It offers expert advice on mergers, acquisitions, and investments. The mobile app lets clients manage accounts, investments, and financial reports on the go.

10. FinecoBank

FinecoBank is known for its user-friendly online banking and investment services. It offers low fees, a strong trading platform, and easy account management, making it popular with digital nomads and expats looking for a modern banking experience.

5 Top International Banks in Italy

Here are the top international banks in Italy:

1. Deutsche Bank (Germany): The most popular German bank, Deutsche Bank, is dominant in Italy. It offers various services, from private banking and wealth management to corporate and investment banking.
2. Crédit Agricole (France): Crédit Agricole is a bank from France that has a significant impact in Italy through various subsidiaries, including Crédit Agricole Italia. This bank has a variety of retail banking services, as well as corporate and investment banking.
3. ING Bank (Netherlands): This bank is well-known for its digital banking platform and online savings accounts. Its straightforward, digital-first approach suits those who prefer managing their finances online.
4. HSBC (United Kingdom): HSBC operates in Italy mainly through its corporate and investment banking divisions. While it doesn’t have a large retail presence in the Italian market, you can still choose services like trade finance, treasury, and capital markets solutions.
5. Raiffeisen Bank (Austria): Known for reliability, strong regional presence in northern Italy (especially South Tyrol), and solid private and business banking services.

What is the European Central Bank?

The European Central Bank (ECB) is the central bank for the eurozone, which includes Italy as one of its member states. The main purpose of the European Central Bank is to maintain price stability within the eurozone (financial stability board) and oversee monetary policy for the 20 European Union countries that use the Euro as their currency. Naturally, the European Central Bank has a strong impact on banks in Italy, namely on interest rates, inflation control, and banking stability.

Take a look at our guide on how to get the Italy Golden Visa

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Online Banking in Italy

Online banking has become increasingly popular among Italians, allowing them to manage their accounts and money from the comfort of their homes.

Most major Italian banks have online banking platforms, which allow customers to do the following:

• Account management: Users can check balances, view transaction history, and manage savings accounts.
• Fund transfer: Through online banking, clients can do SEPA transfers within Europe and even international transfers.
• Paying bills: It’s possible to pay utility bills and other expenses directly from the account by scanning the code and approving the transaction.

How to Open a Bank Account in Italy

Opening an Italian bank account is straightforward, but it’s essential to understand the requirements and steps. This is particularly helpful if you’re applying for an Italy Golden Visa.

Italy ranks sixth in the Global RCBI Report, which evaluates residency and citizenship programs across the world. The report studies each program based on five areas: how easy the process is, visa-free travel, tax benefits, quality of life, and investment opportunities. Italy’s Golden Visa offers options like investing in government bonds, companies, or startups, with visa-free access to 182 countries. Therefore, opening a bank account in Italy is an essential step for managing your investments and daily finances.

Here’s a guide on how to open a bank account in Italy:

1. Choose a bank

The first step is to research and compare various banks to find one that suits your needs. It’s important to consider factors such as fees and services offered. Customer reviews can help you find the best deal.

2. Gather required documents

After you’ve found the bank that fits your needs the best, you’ll need to gather and deliver the following documents to open a bank account in Italy:

• Valid passport: A copy of passport or national ID card.
• Codice Fiscale: This is an Italian tax identification number, which can be obtained at the Agenzia delle Entrate (Revenue Agency). It is important for further tax payments in Italy.
• Proof of residence: You need to provide an official document that clearly outlines your address in Italy.
• Employment or student proof: Some banks require proof of employment or student status when applying for specific account types.

3. Visit one of the bank branches

Even though you can open an account online, visiting one of the branches can be helpful since you can ask any questions. A bank representative will guide you through the application process.

4. Complete the application

Then, you have to fill out the account application form with the necessary information. A bank representative might ask you about your financial needs and banking preferences.

5. Make an initial deposit

Most banks ask you to make an initial deposit to activate your account. This amount can vary depending on the bank and type of account, but is typically a small sum of money.

6. Receive your bank details

You will receive your account number, debit card, and online banking credentials via letter in post.

Bank Fees in Italy

Here is the table summarizing common bank fees in Italy, with the last column removed:

Currency in Italy

The official currency in Italy is the Euro (€), which is also used by other countries in the Eurozone. However, if you’re sending or receiving funds from international entities, it’s important to understand currency exchange charges. Italian banks generally offer competitive rates for currency exchange, making it easy to convert currencies for travel or transactions.

Bank Work Hours in Italy

Most banks in Italy operate from 9:00 AM to 1:30 PM and 3:00 PM to 4:30 PM on weekdays, with some branches open on Saturdays until noon. Many banks close during the lunch hour, making it essential to plan visits accordingly.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.

We guide you from start to finish, taking you beyond your citizenship or residency by investment application.

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