Anyone with an ISEE of less than 11,600 euros can have a basic account without a fee and without paying stamp duty, but the most important innovation of the Bank of Italy’s intervention concerns the behavior of the banks: it should not necessarily be the customer who knows this right and asks for the product. When the basic account is the most suitable solution, especially if there are conditions to have it for free, the intermediary is called upon to actively propose it.
It is the most relevant passage of the Supervisory guidelines on the basic account published by the Bank of Italy. Via Nazionale asks banks, Poste Italiane and other payment service providers to intervene on rules, procedures and practices to eliminate obstacles to access to this instrument, after having detected cases in which the opening has been discouraged or hindered without adequate justification.
At the end of 2025 in Italy they were barely active 180 thousand basic accounts, while according to the estimate recalled by the Bank of Italy over 7 million residents could get it for free.
Bank of Italy to the banks: the basic account must be proposed, not just put in the catalogue
The Bank of Italy’s intervention starts from problems that emerged both through supervisory activity and from reports from citizens and associations.
In some cases the basic account it was not even included in the product catalogue; in others it did not include all the services required by law. Also found were insufficient information to customers, poor knowledge of the product among staff and IT procedures incapable of managing some legitimate documents, such as a temporary tax code or the receipt of the residence permit application.
The request to intermediaries is, therefore, to eliminate every barrier commercial, organizational or technological and to make the basic account truly accessible to those entitled to it. The Bank of Italy is also asking for greater visibility of the product on websites, apps and in places open to the public.
The basic account it must not be presented only to those who explicitly request it. Banks are called to take on a proactive role and offer it when it is appropriate to the consumer’s needs, in particular when an economic condition emerges that could entitle them to free payment.
Free current account with ISEE under 11,600 euros: who is entitled to it
The basic account is a checking or payment account designed for essential money management needs. In its communication, the Bank of Italy recalls that it is an instrument created with a precise purpose of financial inclusion.
Free admission depends on the economic situation. With ISEE less than 11,600 euros, the basic account is free and you don’t even pay stamp duty.
For i pensioners with a gross annual income of less than 18,000 euros are entitled to free rent, but the stamp duty remains due 34.20 euros per year. Furthermore, the number and type of operations included do not necessarily coincide with those provided for the free account linked to the ISEE.
Even when the account is free, however, you need to check how many operations are included.
Those who already have a paid account can switch to the free one
The Bank of Italy believes that intermediaries should actively evaluate the opportunity to offer eligible customers the transition to the free basic account, without additional costs and clearly explaining the characteristics of the new relationship and the consequences of the change.
The reason is simple: a person who is in a situation of economic vulnerability could continue to use and pay a traditional account despite being entitled to a free or more convenient solution.
Those who already have an account can transfer the payment services active on the old one, such as transfers and debits, to the new relationship. The transfer procedure is free and can be completed within a maximum of 12 days.
What the basic account includes and what cannot be done
With the basic account it is possible to carry out the most common operations: receive and make bank transfers, credit your salary or pension, use a debit card, pay and withdraw from ATMs, address utilities and deposit cash or cheques. Internet banking can also be provided.
There are, however, important limitations. It is not possible to get a credit line or go into the red, nor to have a checkbook or connect a securities account to invest.
Furthermore, some operations are included without limits, while others have a maximum number beyond which you pay an additional cost.
This means that a free basic account and a normal zero-fee online account are not the same thing.
Can the bank refuse to open the basic account?
Not on the basis of a generic economic evaluation of the applicant.
Intermediaries obliged to offer the account they cannot reject the request for reasons related to credit history or economic and financial situation, except for the checks strictly necessary to establish the right to free payment.
Refusal is possible when the requirements established by law are missing. This is the case, for example, of those who already have another current account or payment account in Italy and do not intend to close it, of those who want to use the relationship for an entrepreneurial or professional activity or of those who do not legally reside in the European Union.
Furthermore, anti-money laundering and anti-terrorism obligations remain.
If the bank rejects the account, it must explain the reason within 10 days
If the request is rejected, the operator must inform the customer immediately and, in any case, within ten working days, in writing and without costs, indicating the specific reasons for the refusal. An exception is made in cases where communicating them could hinder the objectives of anti-money laundering and anti-terrorism legislation or public order and security needs.
Anyone who considers the refusal unjustified can first file a complaint with the intermediary. If the answer does not solve the problem, you can contact theFinancial Banking Arbitrator or submit a complaint to the Bank of Italy. Appealing to the ABF costs 20 euros, which are refunded in the event of a favorable outcome.
QuiFinanza has a specific guide on how to submit a complaint to the Bank of Italy and when to contact the ABF.
