Opening a bank account
Online banks and neobanks are often the fastest option for newcomers.
Typical documents
- Valid ID
- Italian tax code (codice fiscale)
- Residence permit (non-EU)
- Proof of address
Major players
- Traditional: Intesa Sanpaolo, UniCredit, BNL
- Online: Fineco, Webank, CheBanca!
- Neobanks: N26, Revolut, Hype
Tip
Neobanks often have no monthly fee and quick onboarding.
Other taxes to know
- IMU: property tax for owners.
- TARI: waste tax.
- Foreign asset reporting: requirements may apply for overseas accounts and property.
- VAT (IVA): 22% standard; reduced rates on some goods.
International transfers
- Wise: low fees, mid-market rates.
- Revolut: free tiers with limits.
- SEPA: euro transfers inside the EEA.
- SWIFT: outside the euro zone — slower and costlier.
Warning
Report foreign accounts and certain assets on your tax return where required (e.g. RW section).
Saving & investing (basics)
- Postal savings bonds: conservative.
- Deposit accounts: cash-like returns.
- ETFs/funds: diversified market exposure.
- PAC: recurring investment plans.
Go deeper
Bank accounts and basic banking right
Bank of Italy publishes consumer guides and a basic payment account for eligible low-income users.
IBAN, SEPA and instant payments
Italian IBAN is 27 characters; SEPA transfers in euro are usually cheap; instant payments may cost a small fee.
Taxation of savings and investments (typical)
- Interest: often 26% withholding; government bonds may use 12.5% on coupons
- Capital gains on securities: often 26%
- Crypto: monitor annual thresholds in current law