This page is about money in Italy: your account, deposit protection and charges. For the affairs you still have in Ukraine, our general guides will help.
What do you need to know about accounts and deposits?
Everyone who is legally present in the EU has the right to a basic account, you need a codice fiscale for it, and deposits are guaranteed up to €100,000.
- Account. Everyone who is legally present in the EU has the right to a basic account (conto di base), regardless of where they live, including people without a permanent home and asylum seekers. We explain how to open one on a separate page.
- Tax code. The law requires you to give a codice fiscale when you open an account, and the Bank of Italy expects banks to work with a temporary code made up only of digits (no letters) as well; banks must review their practice by 30 November 2026. We explain how to get the code on the page about the codice fiscale.
- Deposit guarantee. Up to €100,000 per depositor at one bank; according to the deposit protection fund (FITD), the money is paid back within 7 working days. Cooperative credit banks (BCC) and rural banks (casse rurali, casse Raiffeisen) belong to a separate fund.
- Stamp duty. For account statements, an individual pays €34.20 a year if the average balance exceeds €5,000 (DPR 642/1972, tariff, Art. 13). The basic account, which is free for people with an ISEE below €11,600, is exempt from this duty.