Skip to content The Bank of Italy has issued new Supervisory Guidelines to protect basic account rights for foreign consumers. The guidelines call on banks, Poste Italiane and other payment service providers to remove unjustified barriers. These problems particularly affect vulnerable customers, including asylum seekers, refugees and people of foreign origin.
What a basic account offers
A basic account provides access to essential banking services. Customers can receive bank transfers, salaries and pension payments, make payments, withdraw cash and use a debit card. This type of account therefore helps consumers manage their everyday financial needs without requiring additional or more expensive banking products.
Consumers who legally reside in the European Union can request a basic account. This right also applies to asylum seekers, refugees and people without a fixed address, provided that they do not already hold another payment account in Italy. Certain customers with a low income can access the service free of charge.
Problems identified by the Bank of Italy
The Bank of Italy identified several practices that can prevent eligible consumers from opening a basic account. In some cases, customers receive insufficient information or offers for more expensive products instead. Some providers have also refused applications on the basis of general assumptions rather than an individual assessment.
Technical limitations can create further obstacles. For example, some IT systems cannot process valid documents held by foreign customers, including receipts for residence permit applications or certain temporary tax identification codes. These difficulties can exclude eligible consumers from essential payment services.