A bank account must be opened in order to receive your Italian income, pay bills and taxes, and conduct other financial operations if you are an ex-pat coming to Italy. If you have a local address and reside there, opening a bank account in Italy will be relatively simple. This guide will tell you the procedures needed to acquire access to bank services, whether you are moving there or have just arrived.

Quick Comparison Of The Best Italian Bank For English Speakers

Bunq: It is a Dutch bank. It operates entirely in English Europe-wide and has a convenient mobile app. It’s an excellent choice for ex-pats.
Revolut: You won’t have any trouble browsing the website of Revolut, an international online bank established in the UK and only works in English.
Intesa Sanpaolo Bank is another traditional Italian bank, making it easy if you like to handle financial matters in person.
N26 exists to simplify your life. With real-time banking and cutting-edge capabilities, you can manage your money and maximise your resources with only a few clicks on your smartphone.

*Bank*	N26	bunq	Intesa Sanpaolo	Revolut
*Provider Type*	Neobank	Neobank	Branchbank	Neobank
*Account Type*	Current account	Current account	Current account	Current account
*Card Type*	Mastercard debit	Mastercard/Maestro credit	Mastercard debit	Mastercard debit
*Language(s)*	English, Italian and 3 others	English, Italian and 5 others	English and italian	English, Italian and 19 others
*Currencies*	EUR	EUR	EUR	EUR and 30+ others
*Monthly Fee*	€0.00	€2.99	€0.00	€0.00
*Italian Residence Requirement*	✘	✘	✘	✘
*Ideal For*	EU residents looking for a low-cost fully-fledged bank account.	Non-residents in Italy looking for a basic but flexible and eco-friendly current account and card offering.	Best for international college student between the ages of 18 and 35.	Residents and non-residents in Italy looking for access to basic banking services at a very low cost.

Quick Comparison Of The Best Italian Bank For English Speakers

Bunq: It is a Dutch bank. It operates entirely in English Europe-wide and has a convenient mobile app. It’s an excellent choice for ex-pats.
Revolut: You won’t have any trouble browsing the website of Revolut, an international online bank established in the UK and only works in English.
Intesa Sanpaolo Bank is another traditional Italian bank, making it easy if you like to handle financial matters in person.
N26 exists to simplify your life. With real-time banking and cutting-edge capabilities, you can manage your money and maximise your resources with only a few clicks on your smartphone.

Criteria To Choose The Best Bank In Italy

All of the Italian banks on the above list are reputable and well-rated, but one or two will be the best bank in Italy for you based on your banking preferences and where you are from. Let’s determine your banking practices by responding to the following questions.

Best Italian Bank for English speakers 1

Online Banking Vs. Branch Office In Italy

Think about how you are utilising financial services in your present nation of home.

Do you prefer to speak with your bank adviser in person in a nearby branch office or do all your banking online or through an app? Online banks have undoubtedly disturbed the German banking sector in recent years, and because they offer excellent customer service in English, they are a terrific option for foreigners.

These days, opening a free bank account in Italy is relatively simple and quick, especially with internet banks.

There are several types of banking cards.

Credit Cards

Another secure way to carry money is via credit cards. Additionally, they give an easy way to keep track of all your expenditures and often provide fair exchange rates. Credit card cash advances are an expensive way to receive cash, even if you may withdraw cash from them at banks and ATMs. Even if you consistently pay your bills on time each month, keep in mind that you will start paying interest as soon as you make money. Also, remember that many banks now impose a 1% to 3% “transaction fee” on any charges you make outside of your country of residence, regardless of whether you are using local currency or your own.

Prepaid Credit Cards

You must load funds onto prepaid credit cards in order for them to function. There is no such thing as an overdraft or credit option. These cards are fantastic if you wish to keep to a spending limit or allowance.

Debit Cards

Debit cards are often more widely used and accepted in Italy, so you shouldn’t have issues using Visa or MasterCard to make a purchase. A withdrawal from an ATM using a debit card presents the only issue. In order to avoid paying these costs, if you frequently travel, you should open an account with a bank that belongs to the Global ATM Alliance. You may use international debit cards to get cash from Italian ATMs and make payments using a mobile card reader as long as your account has enough money and is not banned by your bank.

Bank Account Fees

In Italy, there is a wide selection of free bank accounts. While most conventional branch banks impose a monthly fee, most new internet banks provide a free basic bank account.

Securities Account

Do you want a bank that merely provides you with a checking account to get your income and cover your living costs, or do you also want a securities service where you can trade stocks or cryptocurrencies and manage your investment portfolio?

You may always create a securities account with a different online broker if the Italian online bank you pick does not provide one.

Cash Withdrawals

An ATM, often known as a “cash machine” or a “cashpoint,” is the simplest and most convenient way to obtain cash when away from home. To locate ATMs near your destination, visit the website for your bank card. Before leaving, ensure you are familiar with your identification number (PIN) and daily withdrawal cap. Every time you use a card at an ATM operated by another bank, many banks charge a fee, which may be more significant for foreign transactions than for local ones. The bank from which you withdraw money may also impose its fee. Consult your bank about foreign withdrawal costs.

Your Nationality

Unfortunately, your nationality affects not just visa requirements but also whether or not a bank would accept you as a customer. Before their bank account may be activated, all new customers must prove their identification. Only video identification services like IDnow are able to deliver this process through online banking. Some services won’t accept an ID or passport if it doesn’t have the required security measures. To help you choose the ideal bank, we have included links to acceptable nationalities for each institution.

What Is The Best Italian Bank For English Speakers?

Bunq

Bunq, an Amsterdam-based European challenger bank, is a well-liked alternative to high-street and conventional Italian banks. The bank is renowned for its sleek user interface and adaptable features designed for millennials, travellers, and other individuals who are always on the go.

Wise and all of bunq’s bank accounts are connected, which makes sending money abroad relatively affordable.

All foreigners in Italy, especially those who don’t know Italian, including expatriates, international students, and other visitors, should consider it.

Bunq offers:

inexpensive bank accounts beginning from 0 to 2,99 EUR
reasonably priced ATM withdrawals
IBAN
Excellent user design and straightforward navigation
Instantaneous payments/transfers
Specific accounts for freelances
Customer service is available in English, Italian and other languages

A free savings account, a low-cost plan for only 2,99 EUR per month, or a premium plan for 8,99 EUR are all options. One benefit of a premium account is:

free ATM withdrawals
25 sub-accounts
multiple debit cards, including Mastercard and Maestro
free travel card

Additionally, Bunq provides a free trial that lasts a month so that you may try the product.

Revolut

Revolut is a regulated bank in Italy that has emerged at the forefront of Europe’s low-cost online financial services business in recent years. It is debatably the most well-known name in the challenger bank industry worldwide. The London-based fintech has over 12 million users and is accessible not just in the UK and EEA but also in Australia, Canada, Singapore, Switzerland, Japan, and the US. Given that Revolut is a global online bank with its headquarters in the UK and only offers services in English, you won’t have any trouble accessing its website. Italy is one of the European nations where this bank is accessible. Setting up a bank account as an overseas student couldn’t be simpler. You need to provide your ID and the shipping address for the card. A free account and debit card are provided to every consumer.

Revolut’s main features include the following:

Bank account and debit card that is cost-free
Quick top-ups
Free transfers across currencies
Quick transfers
Free withdrawals worldwide

Intesa Sanpaolo Bank

Intesa Sanpaolo is a fantastic choice if you prefer face-to-face interaction over conducting all of your banking online. Another of the biggest and most reputable Italian banks, Intesa Sanpaolo, has locations around the country, making it simple to locate them. You can manage your finances online and use a Mastercard Debit card to make purchases when you have a current account. So, pretty much everywhere should take your money. You shouldn’t have any issues because Intesa Sanpaolo has a sizable ATM network where you may withdraw free cash without any fees.

An excellent feature of Intesa Sanpaolo is that it provides support for non-Italians by having a multilingual contact centre to answer any issues you may have. There is an English version of its website as well.

Their account is reasonably priced, and they are absolutely free to have for young individuals between the ages of 18 and 26. They are generally fairly open and friendly to non-Italians.

Intesa Sanpaolo becomes an extremely appealing bank to hold an account with when combined with their competitive rates and services.

They provide a wide variety of financial services, including savings accounts, loans, mortgages, insurance, etc.

Therefore, if you desire, you may approach them for more complex issues once you’ve built up a strong connection and sense of trust with them.

The only drawback would be that because it is a traditional bank, you will have to deal with the usual red tape of making an appointment and showing up in person to create an account and handle any concerns you might have. If you want to handle financial affairs in person, Intesa Sanpaolo, one of the traditional banks in Italy, is beneficial. Given that it has the most significant assets in the country, this bank is respected and trusted. Its terms and conditions are easy to understand since it is multilingual.

Thanks to the profusion of ATMs at Intesa Sanpaolo, you won’t need to be concerned about going cashless when travelling around Italy. It’s also free to get an account if you’re a college student between 18 and 35. By opening a current account with this bank, you may manage your funds from the comfort of your home and have access to online banking services. For instance, you might pay using your debit Mastercard card.

Intesa Sanpaolo also offers:

Cost-sharing payments
huge range of free services
Instant international transactions
Multilingual support
Easy access to insurance and mortgages
Free accounts for users up to the age of 3

N26

Since its founding in 2013, N26 has grown to be Europe’s largest mobile bank. Some of their benefits include a free checking account, minor lending possibilities, and a savings account. Over the past few years, N26 has gained enormous popularity. A simple and user-friendly mobile real-time banking app disrupts conventional banks’ status quo and appeals to the generations that grew up with the internet.

Due to N26’s integration of Wise into their banking app, any ex-pat desiring to send money straight to a foreign bank account may do so without worrying about costs. The possibility to apply for an overdraft and a loan up to 25.000 euros is also available through N26.

Everything about the product, including sign-up, mobile banking, and customer care, is available in English. It is one of the most famous German bank accounts for foreigners and is an online bank that accepts most countries.

N26 provides four distinct kinds of bank accounts. The premium Metal account from the cost-free Standard account. The free physical debit Mastercard formerly included with the Standard Account has recently been replaced by a virtual-only debit Mastercard by N26. If you still want an actual card, you may order one for a one-time cost of 10 euros.

The physical debit Mastercard is complementary to all premium N26 accounts, starting with the N26 Smart for 4,90 euros a month.

N26 features:

Available on Apple Pay and Google Pay
Online free checking account opening takes 8 minutes
accessible to 142 or so different ethnicities
Every word is in English.
Free Standard checking account with no monthly contribution necessary;
Free virtual debit Mastercard
No currency exchange costs for card payments
Free integration with Wise\s
complete real-time management using an app

Conclusion

More than 20 banks are operating in Italy, so you’ll need to select one that meets your requirements as an ex-pat. Be at ease, though! To assist you with your banking requirements, we’ve produced a list of the top Italian banks with devoted English-speaking customer support personnel.