What do you need to open a bank account in Italy as a foreigner?
Order matters. Before you open any account, you need a codice fiscale, the tax code that identifies you in every Italian contract, from your phone SIM to your lease. IMT School Lucca's FAQ (undated, checked October 2026) lists the documents for a student bank account: passport, codice fiscale, permesso di soggiorno (residence permit) or, for non-EU students, the post-office receipt showing you applied for it, and an enrolment or attendance certificate. It also says you must be 18 or older, and that both residents and non-residents can apply in a branch or online.
If you are non-EU, the Questura (police immigration office) usually assigns a codice fiscale when you apply for or renew your permit, according to Informazione Fiscale's guide (undated, checked October 2026). Anyone else can request it from the Agenzia delle Entrate (tax agency) with form AA4/8: in person by appointment, by certified email (PEC) with an ID copy, or online with SPID, CNS or CIE digital identity. Students still abroad can also ask the Italian consulate before departure. Check the current cost yourself; we could not confirm it.
Which Italian banks offer free accounts for students?
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Several traditional banks run online accounts with zero canone below an age limit. According to BankingGeek's youth-account comparison (updated September 2026, using June 2026 data), the main options are:
- isyPrime (Intesa Sanpaolo): €0 a month under 35, then €9.90 a month from 35.
- Fineco: €0 a month under 30.
- BPER On Demand: €0 a month under 35; otherwise €4.90 a month unless you credit a salary or move €1,000 a month into it.
These accounts come with an Italian IBAN from a large domestic bank, which is the least likely to cause trouble with landlords, utility companies or the university. The trade-off is paperwork: expect the full document list above, including the permit or its receipt if you are non-EU.
BankingGeek is a comparison site, not the bank. Before signing, open the bank's foglio informativo (the official fee sheet every Italian bank must publish) and check card fees, withdrawal fees and the imposta di bollo (stamp duty), which can apply on top of a zero canone.
Is Hype a good free account for Erasmus students?
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Hype is the app-based account of Banca Sella, opened entirely on your phone. According to The Flight Club's Hype guide (September 2026), every plan includes an Italian IBAN, and the prices are:
- Hype base: €0.
- Hype Next: €2.90 a month (€34.80 a year).
- Hype Premium: €9.90 a month (€118.80 a year).
For a student who only needs to receive money from home, pay rent by transfer and use a card, the base plan covers the core job at zero cost. The Italian IBAN is the real selling point: it is issued by an Italian bank, so it sidesteps most of the IBAN-rejection problems described below.
Two cautions. The Flight Club is a comparison site, so confirm the limits and fees on Hype's own fee sheet before you rely on them. And an app-only account still needs your codice fiscale and ID; there is no shortcut around the requirements in the first section. If you plan to stay a full academic year, compare it against a youth account from a larger bank before choosing.
Can you get the conto di base for free?
The conto di base is a basic account that every Italian bank must offer. According to QuiFinanza's report on Banca d'Italia guidance (August 2026), it is completely free, with no canone and no stamp duty, for consumers whose ISEE is below €11,600. ISEE is the Italian household income-and-assets indicator, and you must communicate it to the bank by 31 May each year to keep the exemption.
The same QuiFinanza article says Banca d'Italia told banks to offer this account proactively, because only about 180,000 were active at the end of 2025 against more than 7 million people possibly eligible. In other words, few people ask for it, and branches may not mention it unless you do.
The honest catch for Erasmus students: you need an Italian ISEE certificate, which usually takes time to obtain, and QuiFinanza notes that banks can refuse the account if you are not legally staying in the EU. It suits students settling in Italy for a full degree better than one-semester visitors.
Do Revolut and Wise work for paying rent in Italy?
Revolut now issues Italian IBANs. According to Azienda Banca (December 2024), new Italian customers have received an IT IBAN through Revolut's Italian branch since 16 December 2024, existing customers could migrate from January 2025, and deposits are covered up to €100,000 by the Lithuanian guarantee fund. Check Revolut's current plan prices on its own site; our sources did not include them.
The problem is acceptance. Milano Finanza reported in April 2026 that Altroconsumo collected about 80 reports of Italian billers rejecting non-Italian or neobank IBANs, mostly Revolut but also Trade Republic, N26 and Wise. Even an Italian Revolut IBAN was reportedly refused by Telepass, and Revolut Italy admitted a fix is "not immediate." The same article says the antitrust authority AGCM fined Agos Ducato €800,000 in January 2026 for IBAN discrimination, so refusing EU IBANs is not allowed, but it still happens.
Practical rule: neobanks are fine for spending and receiving money from home. For rent, ask your landlord to test a small transfer before you sign.
How should you pay the deposit and rent by SEPA transfer?
Pay by bonifico SEPA (euro bank transfer) from the account you opened, with a clear description such as the month and the address. A transfer leaves proof of payment; cash does not, and proof is what protects you if the caparra (deposit) is disputed at the end.
On the deposit itself, Article 11 of Law 392/1978, as published by Brocardi, says it cannot exceed three months' rent and earns legal interest paid to the tenant each year. Brocardi's notes add that Law 431/1998 lets parties derogate for residential leases, and that Article 13 of Law 431/1998 forbids the landlord from taking more than the registered contract states. Brocardi's page notes a legal interest rate of 0.05% from 1 January 2020, which may have changed since.
So insist on a registered contract (contratto registrato) that states the deposit, and pay everything by traceable transfer. If you are still looking for the room itself, our honest comparison of apps to find rooms in Italy covers where to search; full disclosure, it includes Coinquilino (coinquilino.app), a free app for finding rooms and roommates in Italy, which is our app.
Frequently asked questions
Can I open an Italian bank account without a codice fiscale?
No, not at an Italian bank or post office. IMT School Lucca's FAQ (undated, checked October 2026) lists the codice fiscale as a required document. Request it first, from the Questura with your permit, the Agenzia delle Entrate with form AA4/8, or a consulate before you leave.
Can I open a bank account before I have my permesso di soggiorno?
Often yes, if you are non-EU and already applied. IMT School Lucca's FAQ says the post-office receipt of your permit application can be accepted instead of the permit itself. Policies vary by bank, so ask before you go to the branch.
Is Revolut enough for an Erasmus semester in Italy?
For daily spending, usually. For rent and utilities, test first: Milano Finanza reported in April 2026 that Italian billers still reject some neobank IBANs, including an Italian Revolut IBAN in one case. Keep an Italian-bank account as backup if your landlord or provider refuses.
Which free account is best if I am under 30?
All three youth accounts in BankingGeek's September 2026 comparison cover you: isyPrime and BPER On Demand are €0 under 35, Fineco is €0 under 30. Hype base is €0 at any age per The Flight Club (September 2026). Compare card and withdrawal fees on each fee sheet.
Do I need an Italian account to pay the deposit?
Not legally, but it makes life easier. Many landlords prefer an Italian IBAN, and a traceable bonifico is your proof of payment. Check that the deposit appears in the registered contract, since Article 13 of Law 431/1998 (via Brocardi) forbids taking more than the contract states.
Does the conto di base work for Erasmus students?
Rarely, in practice. QuiFinanza (August 2026) says it is free only with an ISEE below €11,600, which you must send to the bank by 31 May each year, and banks can refuse people not legally staying in the EU. Degree students living in Italy have a better chance than one-semester visitors.
Once your account is set, the next costs to tame are shared bills; our guide to cutting student light and gas bills and the 7 rules for happy roommates cover splitting them without fights.
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This article was produced with the help of AI tools and reviewed by the Coinquilino editorial team.
