Business banking in Italy

How business banking works in Italy

Business banking in Italy splits into two broad groups. Traditional banks such as Intesa Sanpaolo, UniCredit, BPER Banca and Banco BPM offer branch based business accounts with cash handling, lending and local support. Licensed digital providers such as Qonto, Wise Business, Revolut Business, N26 and Finom offer accounts opened online, often with lower monthly fees and multi currency features. Italy uses the euro and sits inside the SEPA area, so euro transfers across the European Economic Area are straightforward. The right fit depends on whether you value branch access and cash services or low cost online banking and foreign currency handling.

Who can open a business account

Sole traders, called ditta individuale, freelancers with a partita IVA, partnerships such as the SNC and SAS, and companies including the SRL, the simplified SRLS and the SpA can hold a business account in Italy. Self employed people often qualify for a simple business account tied to their partita IVA, which is how several neobanks structure their offering. A company must first be incorporated by notarial deed, receive its partita IVA and codice fiscale from the Agenzia delle Entrate, and register in the Registro delle Imprese at the Camera di Commercio.

Traditional banks compared with neobanks

Traditional banks suit businesses that handle cash, want a local relationship manager, or need lending and overdraft facilities. They charge a monthly package fee and apply stamp duty, the imposta di bollo, on account statements. Neobanks suit businesses that work online, invoice abroad, or want to keep costs low, with plans that range from low monthly fees upward. As an example, Qonto advertises a Basic plan from EUR 9 a month as of 18 June 2026. Neobanks rarely accept cash deposits and lending is limited, so the trade off is cost and convenience against branch services and credit. Confirm current terms with each provider.

Requirements and documents

Exact documents vary by provider and legal form, and a company has extra incorporation steps. A common checklist is below. Verify with the provider

• Proof of the business: a Registro delle Imprese extract, the visura camerale, for a company, or proof of self employed status for a sole trader or freelancer, plus the partita IVA and codice fiscale.
• Identification for every owner and authorised signatory, usually a passport or national identity card, plus proof of address. Beneficial owners holding more than 25 percent are identified under anti money laundering rules.
• For a company, the notarial deed of incorporation and the articles of association, along with source of funds information requested under KYC rules. Many businesses also need a certified email address, the PEC, and use the SdI platform for electronic invoicing.

How to open an account

1. Choose a provider and account type that matches your legal form and how you handle cash and foreign currency. Read the fee schedule, the foglio informativo, as of the date you apply.
2. Gather your business proof, partita IVA and codice fiscale, owner identification, proof of address and, for a company, your incorporation documents. Complete the provider identity and source of funds checks.
3. Open the account online or in branch. A company is incorporated by notarial deed, registered in the Registro delle Imprese, then linked to its operating account once the registration is confirmed.