Basic Current Account

The Basic Current Account is an account that banks are required to offer by law, with the objective of promoting financial inclusion among consumers with essential banking needs. The Account has an all-inclusive annual charge, and in some cases, if certain conditions are met, is free of charge. The services included are established by the Italian Banking Act and by Decree no. 70/2918 issued by the Italian Ministry for the Economy and Finance (the “MEF Decree”).

It is addressed to consumers who are legally resident in Italy or in another European Union Member State and who do not have any other payment accounts either with Mediobanca or with other banks.

It is recommended for people with simple money management needs.

If you already have an ordinary current account but your requirements have changed, and your new ones can be met by a Basic Current Account, you can apply to open one at any time after closing your existing account. If your old account is with another bank, you can close it and ask for the related payment services to be transferred, using the portability service.

The Basic Current Account has only limited operations. You can have your salary or pension paid into the account, have utilities debited, make withdrawals and pay in money, or arrange transfers, including through home banking. 

Conversely, no provision is made for chequebooks, credit cards, loans or securities deposits. 

Based on the type of Basic Current Account opened, the annual charge covers a set number of operations which is stated in the tables contained in Annexes A and B of the MEF Decree, and shown in the Information Sheet.

• Ordinary Basic Current Account: this has the annual charge shown in the Information Sheet, and includes the types and number of operations stated in Annex A to the MEF Decree. 
• Basic Current Account for Disadvantaged Groups: this account is intended for people with low incomes (ISEE indicator below €11,600). In this case there is no annual charge, and the types and number of operations stated in Annex A to MEF Decree are included free of charge. It is also exempt from stamp duty.
• Basic Current Account for Pensioners: this account is intended for pensioners who receive a pension of less than €18,000 gross per annum. In this case too there is no annual charge, and the types and number of operations included are those stated in Annex B to the MEF Decree.  

For additional operations or movements which exceed the number covered free of charge, costs may be debited to a degree considered reasonable and consistent with the Basic Current Account.

In order to open a Basic Current Account for Disadvantaged Groups or Pensioners, applicants in these categories must submit a self-certification form stating they meet the requirements to be applicable for the account. This certification stating that the income requirements are met must be submitted annually by 31 May each year. If the certification is not submitted, or if the requirements are no longer met, the terms and conditions applicable to the Ordinary Basic Current Account will be applied, along with stamp duty if payable, starting from 1 January of the year concerned.

Advertising messages for promotional purposes.

For further details on the terms and conditions and operations of the Basic Current Account, please consult the transparency documentation, Information Sheets and Documents on Charges available at branch offices and in the website section entitled“Transparency”.