Best Banks in Italy

Looking for a bank in Italy? Let’s face it, the banking scene here can be as rich as its coffee and as confusing as its road signs. But don’t worry—I’ve got you covered!

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Table of Contents

1. Top 5 Banks in Italy
2. What Makes a Bank “The Best”?
3. A Quick Look at Each Bank
4. Banking Fees Breakdown
5. Mobile Banking Experience
6. What Expats Should Know
7. FAQ: Choosing the Best Bank in Italy

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1. Top 5 Banks in Italy

• UniCredit
• Intesa Sanpaolo
• Banca Monte dei Paschi di Siena
• Banco BPM
• BPER Banca

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2. What Makes a Bank “The Best”?

Is it low fees? Stellar customer service? An app that doesn’t crash every time you check your balance?

Here’s what really matters:

• Customer Service: Friendly staff who don’t make you feel like you’re a bother.
• Mobile App: Quick, reliable, and easy to use. Because who wants to stand in line?
• Fees: Hidden fees? No, thank you!
• Accessibility: Branches and ATMs everywhere.
• International Services: Crucial for expats and travelers!

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3. A Quick Look at Each Bank

1. UniCredit: The All-Rounder

• Why It’s Great: UniCredit is a solid choice for everyday banking and small business needs.
• Perks: Widely available ATMs, international services, and an app that works well across devices.
• Downside: Higher fees compared to some competitors.

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2. Intesa Sanpaolo: Best for Investors

• Why It’s Great: Intesa Sanpaolo isn’t just for your basic savings account; it’s an investment haven.
• Perks: Tons of options for wealth management.
• Downside: Not the best for those seeking super low fees.

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3. Banca Monte dei Paschi di Siena: Historic, Reliable

• Why It’s Great: It’s literally the world’s oldest bank! Tradition and trust run deep.
• Perks: Solid for loans and mortgages.
• Downside: Not the most modern digital experience.

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4. Banco BPM: The Budget-Friendly Pick

• Why It’s Great: Low fees, especially for account holders who don’t want to pay for every little transaction.
• Perks: Free basic account options.
• Downside: Limited international services.

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5. BPER Banca: Best for Expats

• Why It’s Great: BPER Banca is a hit with expats thanks to its flexibility and international focus.
• Perks: Multi-currency accounts and excellent customer support in English.
• Downside: Fewer physical branches than larger banks.

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4. Banking Fees Breakdown

Here’s a quick snapshot of typical fees at some of Italy’s top banks:

Bank	Monthly Fee	ATM Withdrawal Fee (Non-Customer)	International Transfer Fee
UniCredit	€4.00	€2.50	1% of amount
Intesa Sanpaolo	€3.50	€2.00	1.2% of amount
Banca Monte dei Paschi	€5.00	€2.70	1.5% of amount
Banco BPM	€2.00	€2.00	1% of amount
BPER Banca	€3.00	€2.20	1% of amount

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5. Mobile Banking Experience

Let’s talk apps. Here’s the scoop on how each bank’s mobile app performs:

1. UniCredit
   The app is user-friendly but can lag at peak times. It gets the job done for day-to-day banking, but don’t expect cutting-edge features.
2. Intesa Sanpaolo
   Packed with advanced features for investors, but some users find it overwhelming for simple tasks. If you’re a tech-savvy investor, this app shines.
3. Banca Monte dei Paschi
   The mobile app could use some love. It’s functional but lacks modern conveniences and speed.
4. Banco BPM
   Simplicity is key here. It’s basic, but that’s what some people want! Just don’t expect too many bells and whistles.
5. BPER Banca
   Excellent for expats! Multilingual options and easy international transactions make this app stand out. Its simplicity is its strength.

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6. What Expats Should Know

Banking as an expat in Italy can be tricky. But don’t fret! Here’s what you need to keep in mind:

• International Transfers: Look for banks like BPER or UniCredit that offer seamless cross-border payments.
• English Support: Some banks, like BPER and UniCredit, have better English-speaking support.
• Residency Requirements: You might need to show proof of residency to open certain accounts.
• Currency Options: Expats benefit from multi-currency accounts, especially at BPER Banca.

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FAQ: Choosing the Best Bank in Italy

1. Which bank in Italy is best for everyday banking?
UniCredit is often the go-to for its wide ATM network and solid mobile app.

2. Which bank offers the lowest fees?
Banco BPM is known for its low-cost basic accounts, making it perfect for those who want to avoid high banking fees.

3. Which bank is the best for expats?
BPER Banca stands out for its expat-friendly services, including multi-currency accounts and great international transfer options.

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