Opening a bank account in Italy can be done online if you are a resident or a non-resident. It is easier to open a bank account if you reside in Europe. You can open a European bank account online with an ID card, proof of address and a utility bill. Under Italian law, it is now easy to open Italian bank account online. There before, it was challenging and expensive to open Italian bank account without residency. In this article, we will show you how to open a bank account in Italy online.
N26 was ranked number 1 best bank in Italy on Forbes’ list of the world’s best banks in 2021. It was rated the first best bank in Austria, the second-best bank in France, the fourth best bank in Spain and 13th in Germany.
What Do I Need to Open a Bank Account in Italy?
Some banks may allow you to upload documents while others may require you to present them in person. To open a bank account in Italy, you need to present the following documents.
- An ID card, passport, or driver’s license
- Proof of address
- Italian tax code (codice fiscale)
- Work permit, residence permit and codice fiscale for non-residents
Can I use a foreign IBAN in Italy? Yes, you should be able to use a foreign IBAN in Italy because it is a member of the European Economic Area. It is against the law to be discriminated against because of having a foreign IBAN. This is what you need to know about IBAN discrimination and what to do about it.
Can You Open an Italian Bank Account Online?
Yes. You can open an online Italian bank account. With the virtual account, you can send, withdraw and receive money through the account. Some of the online bank accounts you can open include N26, Revolut, Monese, bunq, Payoneer, and Dukascopy.
- Ranked number 1 best bank in Italy in 2021 by Forbes
- You get N26 MasterCard as well as N26 Italian IBAN, which allows you to manage your utility bills, subscriptions, direct debits, etc. You can pay MAV, RAV, bollettini postali and PagoPA directly from N26 app
- Protection up to €100,000 from the German deposit protection scheme
- Free SEPA transfers and direct debit
- If you’ve an annual average account balance of €5,000 or above, and are subject to the ordinary stamp duty of €34.20 on your statements, the stamp duty will be paid by N26 until June 30th, 2022
Opening a Bank Account in Italy for Non Residents
You can open a non resident bank account in Italy. Some banks may require you to visit their premises to open an account while others allow opening an online bank account in Italy.
Can I Open Italian Bank Account without Residency?
Yes. Currently, you can open an Italian bank account without residency using online bank accounts. You only need to have the necessary documents. With that, you can proceed to open online bank account Italy. In fact, some banks have products tailored for non-residents only.
Italian Bank account for Foreigners
Can Foreigners Open a Bank Account in Italy? It is possible to open bank account in Italy for foreigners. The process of opening an online bank account in Italy has been simplified and you can get start opening one while abroad. However, to open a physical bank account in Italy as a foreigner, you need to present a work permit, residence permit or student permit.
Best Online Bank in Italy
If you are looking forward to opening an online bank account in Italy, it is best that you consider virtual bank accounts. The following are some of the best online banks available in Italy you can consider opening.
N26 Bank Italy
N26 is an online bank account you can control using your smartphone. it is one of the banks we highly recommend. The N26 online bank account comes with Italian IBAN. Every account comes with an IBAN number that allows you to send and receive money from your account to other accounts while in Italy and abroad.
With N26 Italian IBAN, you can manage your utility bills, manage subscriptions and direct debits. You will also receive N26 MasterCard that you can use worldwide. You also get free SEPA transfers and direct debits with instant push notifications for every activity in the account. You can also initiate free online purchases that are 3D secure.
Hype Bank Italy
Hype Bank is an Italian online bank account, which is part of Banca Sella. With Hype, the residents of Italy can open a personal account online. You can manage transactions using Hype app that you can download from Google Play or App Store. The account comes with an Italian IBAN that allows you to send and receive money from abroad. With Hype account, you can make bank transfers and ATM withdrawals free of charge.
When you open an account, you get a physical MasterCard and a virtual card. You are able to connect your virtual card to Apple Pay or Google Pay. You can withdraw money from Hype account through an ATM or through a bank transfer to another account.
You are able to associate your Hype Start card with your PayPal account to allow you to pay online by providing only your PayPal email and password, without typing the PAN or other data of your card. You can also top up your Hype card with PayPal.
You can open Italy online bank account using Revolut. The account comes with Euro IBAN. To open an account, you need to download Revolut app on Play Store or App Store and then enter your details. Once you have opened an account, you can start spending, receiving and sending money. You can also send money abroad at excellent exchange rates. You can also invest in over 30 cryptocurrencies using the Revolut account.
When you open a bank account, you get a prepaid Revolut physical card and a prepaid Revolut virtual card (VISA, MasterCard, and Maestro) that you can use to pay online or withdraw money anywhere around the world. You need to choose a plan you will be using among the four Revolut plans; Standard plan that is free and Plus plan, Premium plan and Metal plan that come at a fee.
The bank offers crypto banking services. Revolut cryptocurrency service allows account holders to trade in cryptocurrency and exchange 29 currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple. The bank works with cryptocurrency exchanges such as Coinbase and Bitstamp. Account holders can also send cryptocurrencies to other account holders.
Revolut customers in Italy can connect their UniCredit, Poste Italiane , UBI Banca, Intesa Sanpaolo, Banco BPM bank accounts to Revolut and be able to see all of their balances and transactions on Revolut app.
Monese Bank Italy
You can open an online bank account in Italy with Monese. You can download the Monese app from Google Play and App Store and sign up for an account. Monese account comes with European IBAN numbers. Monese is a fully mobile bank that comes with features like personal financial management and fast and cheap money transfers.
After signing up for an account, you will receive a Monese physical debit card as well as Monese virtual card that you can use around the world and online. You can also make international money transfers in over 20 currencies and enjoy money budgeting tools. Monese allows individuals to open a joint online bank account Italy.
bunq can help you open a bank account in Italy. You can open different accounts each with a unique IBAN. Bunq is available in six languages. You can download bunq app from Google Play or App Store and sign up for an account. When you sign up, you will be issued a MasterCard debit card you can use around the world. You can also create a bunq virtual card using the app.
bunq comes with some features like mobile payments using Google Pay and Apple Pay. There are no foreign currency fees, allowing you to save some cash. You also get notifications for activities in the account.
You can open any of the three personal accounts; easyTravel, easyMoney and easyGreen. The travel account goes for €9.99, easyMoney for €8.99 and easyGreen for €17.99 per month.
Wittix is an online bank that offers multi-currency European personal IBAN and business IBAN accounts in EEA countries. Customers also get virtual cards and physical debit cards. Wittix bank supports 25 currencies including EUR, GBP, ZAR, JPY, CAD, and HKD. You can also make payouts from Stripe and PayPal.
Unfortunaltey, at the moment there is no Wittix app. Therefore, to open your account, you need to do it on Wittix website.
Bankera Bank Italy
Bankera is a blockchain-based banking service that allows you to open multi-currency accounts with IBAN in Italy. It also supports SEPA and SWIFT payments to businesses and individuals. Moreover, the bank has a crypto exchange and wallet known as SpectroCoin. Bankera offers crypto-backed loans as well.
Final Word on Italian Online Bank Account
If you are thinking of opening an online bank account in Italy, it is best that you consider the best online Italian bank account. Some banks such as N26 come with Italian IBAN while others come with IBANs from other European countries. If you reside within Europe, it is easier to open a European online bank account in Italy.