Opening an Italian Bank Account (Conto Corrente)
What banks ask for, what the stamp duty costs, and why you need an IBAN
An Italian IBAN quickly stops being optional. Salaries are paid into it, landlords expect rent by bonifico, and utilities and phone contracts are usually set up as addebito diretto — a SEPA direct debit that most providers will only accept from a domestic account.
The account itself is called a conto corrente. Opening one is straightforward once you have a codice fiscale, but banks differ sharply on whether they accept residenza only or also domicilio, which decides how soon after arrival you can apply.
📋 How to Open a Conto Corrente
- 1
Get your codice fiscale first
No Italian bank will open an account without it. It is free and usually issued the same day at the Agenzia delle Entrate.
- 2
Choose the type of bank
Branch banks help with paperwork in person; online banks are cheaper and faster but assume you can handle Italian forms alone.
- 3
Check the residency requirement
Ask directly whether they accept domicilio or insist on registered residenza. This single question decides whether you can open the account now or must wait.
- 4
Book an appointment
Branches work by appointment. Bring originals, not copies — the clerk photocopies documents on the spot.
- 5
Sign the contract and get the IBAN
You receive the IBAN immediately, usually before the card arrives. That is enough to give your employer for salary payments.
- 6
Set up direct debits
Give the IBAN to your landlord, utility providers and phone operator so rent and bills run as automatic addebito diretto.
✅ Documents You Will Need
- ▸Valid passport or identity document
- ▸Codice fiscale
- ▸Permesso di soggiorno or ricevuta, for non-EU citizens
- ▸Proof of address: residenza certificate, registered rental contract, or a utility bill
- ▸Employment contract or proof of income, requested by some banks
- ▸An Italian mobile number for security codes
⚠️ Common Mistakes to Avoid
- ✕Trying to open an account before getting the codice fiscale
- ✕Assuming a foreign IBAN will do — many Italian employers and utilities reject non-domestic accounts for direct debits
- ✕Not asking whether domicilio is accepted, then being turned away at the appointment
- ✕Overlooking the €34.20 stamp duty and treating it as a hidden bank charge
💶 Costs to Expect
Two costs matter. The canone, the account maintenance fee, ranges from nothing at online banks to roughly ten euros a month at traditional branches, often reduced if your salary is paid in. Separately, the state charges an imposta di bollo of €34.20 per year on accounts whose average balance stays above €5,000 — this is a tax, not a bank fee, so no bank can waive it. If your income is low, ask about the conto base, a regulated basic account with capped or zero fees.
📖 Essential Italian Vocabulary
- Conto corrente
- Current account
- Bonifico
- Bank transfer
- Addebito diretto
- Direct debit
- Canone
- Account maintenance fee
- Imposta di bollo
- Stamp duty on the account
- Conto base
- Regulated basic account
- Estratto conto
- Account statement
- Carta di debito
- Debit card
❓ Frequently Asked Questions
Can I open an account without residenza?+
Often yes. Several banks accept domicilio with a registered rental contract, and some offer a conto per non residenti, though usually with higher fees and fewer features.
Is a neobank enough?+
It depends on the IBAN. Digital banks issuing a genuine Italian IBAN generally work everywhere; a foreign one can be refused for salary or direct debits.
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