Since June 20th the decree came into force which, in implementation of a European directive, allows Italians to open a basic current account. It is a tool designed for the most economically disadvantaged groups, which does not include costs or commissions.
The basic current account, according to the decree, includes, against the sole payment of an all-inclusive annual fee and without charge of other expenses, charges or commissions of any kind and nature, a pre-established number of annual transactions. The account is offered free of charge and is exempt from stamp duty for consumers whose valid ISEE is less than 11.600 euros.
Those entitled to pension benefits up to the gross annual amount of 18.000 euros are in turn entitled to request the opening of a free basic account for the type of service and the number of pre-established transactions. Among the operations included in the basic account there are a limited annual number of withdrawals at the counter, withdrawals from ATMs of banks other than one's own and cash and check deposits.
And in particular:
- 6 cash withdrawals at the counter;
- unlimited withdrawals from your bank's ATM;
- 12 withdrawals from ATMs of other banks;
- unlimited outgoing transfers;
- 36 incoming Sepa transfers (salary or pension included);
- 12 payments between cash and checks;
- Unlimited ATM payments
Consumers whose valid ISEE is less than 11.600 euros who request the opening of a basic account free of charge declare in writing in the relevant request, according to the decree, that they do not hold another basic account.
And in particular:
- 6 cash withdrawals at the counter;
- unlimited withdrawals from your bank's ATM;
- 12 withdrawals from ATMs of other banks;
- unlimited outgoing transfers;
- 36 incoming Sepa transfers (salary or pension included);
- 12 payments between cash and checks;
- Unlimited ATM payments
The account can only be jointly owned by members of the household on the basis of which the ISEE was calculated. Holders of the basic fee-free account notify the account servicing payment service provider of their valid ISEE by 31 May of each year.
Those entitled to pension benefits up to the gross annual amount of 18.000 euros declare in writing in the relevant request that they are not holders of another basic account. Holders of the basic account notify the account servicing payment service provider, by 31 May of each year, the amount of the pension treatment for the year to which they are entitled.
