Types of Account
There are many different types of account to choose between when opening a bank account in Italy. Often, differences between them will be related to important characteristics, such as their respective costs and services. Choosing a current account also depends on how, and how often you use it, because costs will depend on these aspects. Types of account include:
ordinary current account: this is a basic account, required to access basic banking services. Specific conditions will be negotiated between the bank and the account holder
account with a monthly fee: this account has a monthly fee, but no commission fees or charges for individual transactions. This account offers holders the advantage of knowing exactly how much they will pay for their banking services.
account with an annual fee: this account works in the same way as the account with a monthly fee, but charges holders the fee on an annual basis.
zero cost account: this account advertises that it has fewer charges than other, similar accounts. However, it is advisable to pay attention to the small print when signing a contract; these accounts often charge fees for specialised services, such as sending clients a monthly statement, or charging for withdrawals made at other banks.
online account: this account enables the holder to manage their finances and organise transactions on the internet; usually the account will have lower administration charges.
family account: this can be used by several people to manage joint finances.
