This page is for people opening their first account in Italy or who have been refused one. It does not compare the fees of individual banks: terms change, while the law guarantees minimum rights at any bank. The provisions of the banking law (Testo unico bancario, D.Lgs. 385/1993) are named in the text.
Do I have the right to an account at an Italian bank?
Yes, if you are legally present in the EU. Banks, Poste Italiane and other payment institutions must open a basic account in euros (conto di base) for every consumer who is legally present in the EU, regardless of where they live. The law specifically mentions people without a permanent home and asylum seekers (Testo unico bancario, Art. 126-noviesdecies).
Temporary protection gives the right to stay under EU law, so, in our reading of the law, its holders have the right to a basic account. This is consistent with the position of the Bank of Italy: in its 2026 guidelines it reminds banks that refugees and asylum seekers have this right, and in 2022, in an address in Ukrainian to people from Ukraine, it wrote that not being registered at an address cannot be a reason to refuse a basic account.
What does a basic account include, and how much does it cost?
A basic account has an annual fee that covers a certain number of transactions a year; both the fee and the cost of extra transactions must be reasonable. There is no credit or overdraft on it. The bank cannot require you to buy other services together with it (Testo unico bancario, Art. 126-vicies, 126-vicies semel, 126-vicies bis).
The account is free in two cases:
| Who | Condition | Stamp duty |
|---|---|---|
| People on a low income | A valid family economic situation indicator (ISEE) below €11,600 | Not paid |
| Pensioners | A pension of up to €18,000 a year before tax | €34.20 a year, only if the average balance exceeds €5,000 |
To get a free account based on your ISEE, declare in writing that you do not have another basic account, and confirm your ISEE yourself. Every year by 31 May, send the bank your valid ISEE. We explain how to get an ISEE on the page Aid for Ukrainians in Italy.
What documents do you need?
A valid identity document and a codice fiscale. The law requires the codice fiscale to be given when you open any account or other ongoing contract with a bank. According to a clarification on the Ministry of Labor’s portal, banks often also ask citizens of non-EU countries for a residence permit or the receipt for the application for one, while a certificate of residence registration is not needed for a basic account.
What changed on 5 August 2026?
The Bank of Italy published guidelines for banks on the basic account. It found that banks were resisting, without grounds, opening accounts for people entitled to them, for example non-residents legally present in the EU, and that their computer systems did not allow an account to be opened with non-standard legal documents, such as a temporary codice fiscale made up only of digits (no letters) or the receipt for an application for a residence permit.
The Bank of Italy expects banks to:
- explain to staff that everyone who is legally present in the EU has the right to a basic account, including people without a permanent home, refugees and asylum seekers;
- adapt their systems to non-standard documents;
- not automatically refuse whole categories of customers who are considered higher-risk.
By 30 November 2026, banks’ internal control functions must check whether their rules and practice comply with these guidelines.
What should you do if the bank refuses?
Ask for a written explanation and challenge the refusal. A bank can refuse a basic account only if you do not meet the legal requirements or already have an account in Italy with the same services; anti-money laundering rules also apply. The bank informs you of a refusal immediately, and no later than 10 working days after the application, in writing and free of charge, with specific reasons (except where the law allows them not to be disclosed). The notice must state how to file a complaint and your right to contact the Bank of Italy and out-of-court dispute resolution bodies (Testo unico bancario, Art. 126-vicies).
When can the bank close the account?
Only for reasons listed in the law. Among them: the account was deliberately used for illegal purposes; there have been no funds and no transactions on it for more than 24 months in a row; you provided false information; you are no longer legally present in the EU; you opened another payment account in Italy. The bank gives written notice of closure free of charge at least 2 months in advance; in the case of illegal transactions or false information, the account can be closed immediately (Testo unico bancario, Art. 126-vicies ter). So renew your permit on time: without legal stay in the EU, the bank can close the account.
Is the money in the account protected?
Yes. Deposits are guaranteed up to €100,000 per depositor at one bank. All Italian banks belong to the FITD guarantee fund, except cooperative credit banks (BCC) and rural banks (casse rurali, casse Raiffeisen), which have a separate fund; according to the FITD, the money is paid back within 7 working days.
How much is the stamp duty?
For account statements, an individual pays €34.20 a year. If the average balance on your accounts at the bank does not exceed €5,000, the duty is not paid (DPR 642/1972, tariff, Art. 13). A basic account that is free because of your ISEE is fully exempt from the duty.
What mistakes should you avoid?
- Agreeing to an account with a package of compulsory services when you only need a basic one: the bank cannot require this.
- Not asking for a free account if your ISEE is below €11,600.
- Forgetting to send the bank your new ISEE every year by 31 May.
- Accepting a verbal refusal: the bank must explain the reasons in writing.
- Accepting a refusal just because your temporary codice fiscale is made up only of digits.
What has not yet been officially confirmed?
We did not find an official list of documents that banks accept specifically from Ukrainians; the Bank of Italy only expects banks to accept legal non-standard documents. We will update this page as soon as clarifications appear.