Best Bank Accounts for Newcomers in Italy
Best Bank Accounts for Newcomers in Italy
Opening an Italian bank account can make it easier to receive a salary, pay rent, set up utility bills and make local or SEPA transfers. Newcomers can choose between traditional branch banks, digital accounts and basic payment accounts.
The best bank accounts for newcomers in Italy include Intesa Sanpaolo XME Conto Silver, UniCredit Genius buddy, BBVA Online Account and BancoPosta Start Giovani.
Intesa Sanpaolo is particularly useful for foreign residents and non-residents with an Italian tax code. UniCredit and BBVA offer free accounts to eligible Italian residents, while BancoPosta is a practical choice for newcomers under 30 who want access to Italy’s extensive post-office network.
Best Italian Bank Accounts for Newcomers
1. Intesa Sanpaolo XME Conto Silver – Best Overall for Foreigners
XME Conto Silver is one of the most accessible traditional accounts for newcomers because it is available to both residents and non-residents who have an Italian codice fiscale.
The account currently includes:
- Monthly account fee of €5.90
- First XME debit card without an additional monthly fee
- Mobile and online banking
- SEPA transfers and bill payments
- Access to Intesa Sanpaolo branches and ATMs
- Optional savings and investment services
Foreign citizens residing in Italy can apply through the Intesa Sanpaolo app, online banking, the digital branch or a physical branch when they have an Italian tax code. Non-residents can also hold XME Conto Silver, but they generally need to complete the application at a branch.
Applicants opening the account online normally need:
- Valid identity card, driving licence or passport
- Italian tax code
- Smartphone or computer
- Video identification or an identification transfer
Best for:
- New foreign residents
- Non-residents with an Italian tax code
- Customers who value branch assistance
- People planning to remain in Italy long term
Possible drawback: Its €5.90 monthly fee is higher than the free digital accounts in this comparison.
2. UniCredit Genius Buddy – Best Free Account With a Major Italian Bank
UniCredit Genius buddy is a strong option for newcomers who have already established legal residence in Italy.
The account currently offers:
- €0 monthly account fee
- MyOne international debit card included
- Mobile and online banking
- SEPA transfers
- Bill and tax payments
- Access to UniCredit ATMs
- Remote assistance through the buddy service
The account is intended for adults who are resident in Italy. UniCredit’s official product information confirms that Genius buddy includes its multichannel banking service and MyOne debit card within the zero monthly fee.
Genius buddy can be useful for paying:
- Rent and household bills
- University fees
- Taxes and public-administration payments
- Online purchases
- Salary or scholarship deposits
Best for:
- Italian residents
- Newcomers wanting a free account
- Customers who prefer a well-established Italian banking group
- People comfortable managing most services digitally
Possible drawback: Non-residents and newcomers who have not yet registered their Italian residence are generally ineligible.
3. BBVA Online Account – Best Fully Digital No-Fee Account
BBVA offers one of Italy’s strongest fully digital current accounts.
Its Online Account provides:
- €0 opening fee
- €0 monthly maintenance fee
- Free debit card
- No salary-deposit requirement
- No minimum account balance
- Mobile banking and online payments
- SEPA transfers
- Digital savings features
BBVA currently also advertises promotional interest on account balances for new customers, but promotional rates and eligibility periods can change. The permanent attraction is that the account and debit card have no regular maintenance fee.
Applicants must:
- Be at least 18
- Be resident in Italy
- Have a compatible smartphone
- Provide an accepted identity document
- Complete digital identity verification
The application is completed through document photographs and selfies rather than a bank appointment.
Best for:
- Newcomers already registered as Italian residents
- Customers wanting a completely online application
- People who do not receive a regular salary
- Customers seeking an account and debit card without monthly fees
Possible drawback: It is not suitable for non-residents or people who need frequent face-to-face assistance.
4. BancoPosta Start Giovani – Best for Newcomers Under 30
BancoPosta Start Giovani is available to applicants up to the age of 29 years and 11 months. It is offered by Poste Italiane and can be opened online or at a post office.
The package includes:
- BancoPosta current account
- Postepay debit card
- Internet and mobile banking
- Online SEPA and instant transfers
- Notifications and account alerts
- Access to post offices throughout Italy
The standard account fee is €2 per month, or €24 per year. Poste Italiane allows customers to reduce or offset the fee when they meet certain qualifying conditions involving incoming payments, balances or other eligible Poste products.
When the account holder turns 30, Start Giovani is automatically converted to the standard BancoPosta Start option. The account number and connected services remain active, but different pricing may apply.
Best for:
- Newcomers under 30
- Students and young employees
- Customers living in areas with limited bank branches
- People who prefer post-office assistance
Possible drawback: It is not automatically free, and its pricing changes after the customer turns 30.
Quick Comparison
Choose the account that matches your situation:
- Best for residents and non-residents: Intesa Sanpaolo XME Conto Silver
- Best free traditional-bank account: UniCredit Genius buddy
- Best fully digital free account: BBVA
- Best for newcomers under 30: BancoPosta Start Giovani
- Best for branch assistance: Intesa Sanpaolo
- Best for customers without a regular salary: BBVA
Documents Newcomers May Need
Italian banks commonly request:
- Valid passport or national identity card
- Italian tax code, or codice fiscale
- Residence permit for non-EU citizens
- Proof of Italian or foreign address
- Italian telephone number
- Employment contract or university admission letter
- Tax-residency information
- Evidence showing the source of deposited money
The Italian tax code is particularly important. Many banks cannot open a standard account without it, even when they accept non-resident customers.
Banks must also complete identity and anti-money-laundering checks. They may ask where your money comes from, how much you expect to receive and whether international transfers will be used.
Can Non-Residents Open an Italian Bank Account?
Yes, but the available options are more limited.
Intesa Sanpaolo states that XME Conto Silver is available to both residents and non-residents who have an Italian tax code. Non-residents should normally contact a branch rather than expect a fully digital application.
UniCredit Genius buddy and BBVA’s standard online account are designed for Italian residents. Non-residents may therefore need to:
- Open an account at a bank that accepts non-residents.
- Visit a branch with original documents.
- Obtain an Italian tax code before applying.
- Provide additional proof of address and tax residence.
What If a Regular Account Is Refused?
Anyone legally entitled to reside in Italy or another EU country can request a basic payment account. Italian banks and Poste Italiane are required to offer this account to eligible applicants, including asylum seekers and people without a fixed address.
A basic account can include:
- Deposits and withdrawals
- Debit card
- Direct debits
- SEPA transfers
- Essential payment services
It does not normally include an overdraft, credit card or personal loan.
Are Deposits Protected in Italy?
Eligible deposits at member banks are generally protected up to €100,000 per depositor and per bank through the relevant deposit-guarantee scheme. The limit applies to the customer’s combined eligible deposits at the same institution, not separately to each account.
Final Verdict
Intesa Sanpaolo XME Conto Silver is the best overall bank account for many newcomers in Italy because it accepts both residents and non-residents who hold an Italian tax code and provides access to physical branches.
UniCredit Genius buddy offers better value to established Italian residents who want a free account. BBVA is best for a completely digital no-fee experience, while BancoPosta Start Giovani is a practical alternative for newcomers under 30.
Official Sources
- Intesa Sanpaolo – XME Conto Silver
- UniCredit – Genius Buddy
- BBVA Italy – Online Account Without Fees
- Poste Italiane – BancoPosta Accounts
- Bank of Italy – Basic Payment Account
