ACE Money Transfer
ACE Money Transfer
07 Sep 2026
Italy has one of the most established banking systems in Europe, regulated by the Bank of Italy and aligned with European Central Bank (ECB) standards. The sector includes large commercial banks, cooperative institutions, and international banking groups that serve millions of individuals, SMEs, and corporate clients. In recent years, Italian banking has undergone a significant transformation driven by digitalisation, fintech adoption, and increased demand for cross-border financial services. Mobile banking apps, online payments, and digital wallets are now widely used across the country. With Italy being a major exporter and home to a large diaspora community, international money transfers and global banking services are also an essential part of the financial ecosystem. This guide explores the best banks in Italy in 2026 and compares their services, strengths, and international presence.
Choosing the right bank in Italy is important because financial institutions differ in service fees, digital capabilities, mortgage products, and international banking services. Some banks are strong in retail banking, while others specialise in corporate finance and global trade. A suitable bank ensures secure savings, smooth transactions, better credit access, and efficient international money transfers.
Digital banking has become a standard part of financial life in Italy. Customers now rely heavily on mobile apps, contactless payments, and online banking platforms to manage everyday transactions quickly and securely.
Italy has an established international remittance market, supported by cross-border financial activity involving individuals and businesses. According to World Bank data, Italy received approximately $12.59 billion in personal remittances in 2024. Cross-border remittances form part of the wider international financial activity connecting individuals in Italy with recipients and financial institutions in other countries.
Intesa Sanpaolo was established in 2007 through the merger of Banca Intesa and Sanpaolo IMI and is an Italian banking group with operations in Italy and international markets.
Largest banking group in Italy with strong retail, corporate, and wealth management services.
Extensive branch network
Strong financial stability
Excellent retail and business services
Advanced digital banking
Service fees can be high
Branch services can be slow during peak times
Intesa Sanpaolo operates in over 25 countries across Europe, Asia, and the Americas. It is best for families, businesses, and long-term banking customers.
UniCredit, founded in 1998, is one of Europe’s strongest banking groups with a major presence in Italy.
Strong European banking network with excellent corporate and retail services.
Strong international presence
Advanced digital banking tools
Wide range of financial products
Strong corporate banking
Higher fees for premium services
Complex product structure
UniCredit operates in over 13 countries across Europe and also offers the Genius Account as a current account option for everyday banking. It is best for international clients, SMEs, and corporate customers.
BPM Bank, founded in 2017 through the merger of Banco Popolare and BPM, is one of Italy’s major retail banks, with 1,363 branches across Italy as of 31 December 2025.
Strong retail banking with wide accessibility across Italy.
Large branch network
Strong retail banking services
Good mortgage products
Reliable customer support
Digital banking less advanced than competitors
Limited international reach
Banco BPM primarily operates in Italy with limited international services. It is best for retail customers and mortgage seekers.
MPS, founded in 1472, is considered the world’s oldest surviving bank.
Historic banking institution with strong retail and regional banking presence.
Strong historical trust
Good retail banking services
Wide domestic presence
Stable customer base
Past financial instability issues
Digital services are still improving
MPS operates mainly in Italy with limited international exposure. It is best for traditional banking customers.
BPER Banca, founded in 1992, is one of Italy’s fastest-growing banking groups.
Strong regional banking network with growing national presence.
Strong SME banking support
Good retail services
Competitive personal loans
Expanding digital tools
Smaller international footprint
The branch network is still expanding
BPER primarily operates in Italy. It is best for SMEs and regional business customers.
FinecoBank, founded in 1999, is one of Italy’s leading digital bank options, with a strong focus on online investing and trading.
Strong online banking and investment trading platform.
Excellent digital banking
Strong investment services
Low fees
User-friendly app
No traditional branch network
Limited physical banking support
FinecoBank operates in Italy and the UK. It is best for investors, traders, and digital banking users.
Banco Desio, founded in 1909, is a traditional Italian bank focused on retail and SME services.
Strong local banking with personal service.
Strong local presence
Good SME banking support
Reliable customer service
Stable financial structure
Limited digital innovation
Smaller international reach
Banco Desio operates mainly in Italy. It is best for local businesses and retail customers.
Credem, founded in 1910, is one of Italy’s most stable private banking institutions.
Strong customer-centric banking with solid financial stability.
Strong customer service
Good retail banking products
Reliable mortgage services
Stable financial reputation
Smaller global presence
Digital services moderate
Credem operates mainly in Italy. It is best for families and long-term savers looking for savings accounts with competitive interest rates.
Banca Sella, founded in 1886, is known for its innovation and fintech integration.
Strong digital innovation and fintech leadership in Italy.
Strong digital banking tools
Good payment solutions, including Google Pay support
Innovative financial products
Reliable service quality
Limited international presence
Smaller branch network
Banca Sella operates mainly in Italy with fintech partnerships. It is best for digital users and startups.
Crédit Agricole Italia, part of the French Crédit Agricole Group, is one of the international banks with a strong presence in Italy.
Strong international backing with solid retail and corporate banking.
Strong European network
Good retail banking services
Reliable mortgage products
Strong digital tools
Fees may be higher
Less localised than Italian banks
Part of the Crédit Agricole Group operating in over 45 countries. It is best for international customers and professionals.
Italy’s banking sector is rapidly modernising with strong digital transformation, EU regulatory alignment, and fintech expansion. Italy has 420 banks, according to Banca d’Italia data as of 31 December 2024. Cooperative banks focus on community support and member needs, unlike national banks and other major banks with broader networks and wider product ranges beyond basic services. In Italy, traditional banks often have higher fees and more bureaucratic processes. As the market shifts, many banks are expanding digital banking services, including remote account opening and app-based access to everyday banking.
Digital payment activity continues to expand across the euro area. Data from the European Central Bank shows that 77.7 billion non-cash payment transactions were recorded during the first half of 2025, representing a 7.7% increase from the same period in 2024. Card transactions made up the largest portion at 57%, followed by credit transfers at 22%, direct debits at 14%, and e-money payments at 6%.
Contactless card usage also recorded further growth during this period. The euro area saw 29.6 billion contactless card transactions in the first half of 2025, 12.8% more than a year earlier. These transactions had a combined value of €0.8 trillion, an increase of 13.9% compared with the first half of 2024. The ECB publishes these figures for the euro area and also provides more detailed country-level payment statistics.
Italy is adopting open banking frameworks under EU PSD2 regulations, enabling fintech companies to offer integrated financial services and improving competition in the banking sector. Most banks now pair these initiatives with online and mobile banking tools for everyday account management.
Italy has a large immigrant population and a strong diaspora network, making international remittances and transfer services especially important for users managing funds between Italy and other countries.
ACE Money Transfer provides fast, secure, and cost-effective remittance services to Italy, including low cost international transfers, with competitive exchange rates and transparent fees.
Exchange rates fluctuate, and the rate you receive may differ from any rates quoted. Always check the live rate at ACE Money Transfer before sending.
Customers can send money to Italy anytime through a simple online platform without visiting physical branches.
The best bank in Italy depends on your financial needs. The best italian bank for you also depends on whether you need a local account for daily spending, salary payments, or paying rent. Intesa Sanpaolo and UniCredit lead in scale and international banking, while Banco BPM and MPS provide strong domestic retail services. Opening an italian bank account can help avoid international fees and may unlock exclusive financial products for residents. Digital banks like FinecoBank and Banca Sella are transforming the industry with innovation, and with some providers you can account online, while certain banks also accept non-residents under specific conditions. Overall, Italy offers a stable, secure, and highly developed banking system. Choosing the right bank ensures better financial control, smooth transactions, and efficient international money transfers.
Intesa Sanpaolo is widely considered the best bank due to its size, stability, and service range. It is often viewed as the best Italian bank because of its nationwide coverage and broad range of services.
FinecoBank and Banca Sella are leaders in digital banking.
Intesa Sanpaolo, UniCredit, and Banco BPM are strong mortgage providers.
UniCredit and Crédit Agricole Italia are strong in international banking.
Yes, foreigners can open accounts in Italy, but most banks also require proof of residence, and you will typically need a valid passport for identity verification alongside a tax code (italian tax number, or codice fiscale) and the bank’s other required documents. A local address is often requested during the application, and a rental contract can be accepted as proof of address. Some banks also ask for an initial deposit to activate the account after approval. In terms of costs, monthly and annual account fees vary depending on the bank and type of account. Certain account holders may also be subject to an annual €34.20 stamp duty. For example, Banca d’Italia states that this duty applies to basic accounts held by pensioners with gross annual income below €18,000, while different exemptions apply in other circumstances.
If you expect to send money abroad or use cards frequently, compare currency exchange charges, the currency exchange costs applied on card and ATM use, and whether the bank offers multi-currency accounts; some banks also charge around €10 for domestic transfers.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
