JohnHRugby

I've been unpleasantly surprised by how 1970s my Italian bank (MPS) is !!

I've been charged for a debit card, charged a quarterly fee for having a current account, charged (€90) for depositing money into the account electronically from UK .......

In UK I'm used to banks paying interest on current account balances and all services are free. In fact I can remember paying my bank any fees since the 1970s !!!!!

Are there any Italian banks who are more enlightened?

Thanks

John

old.sparkles

Hi John - moved this to the Italian section for you

modicasa

Depends where you are. If you are nonresident you will pay. You can try some of the online banks which are cheaper, but they have no presence in the south and are affiliated to other banks. MpS is the most expensive of the lot in my experience.

Serrano

Most of these things are negotiable. Bollo (where applicable) often isn't because it's a charge imposed on them. The €90 charge for depositing money sounds just wrong. If you bank with a local branch I'd just go in there and ask for an explanation (and be prepared to do a good bit of shouting if/when you're not happy with what you hear)

Capo Boi

Free' banking in the UK does not really exist. Zero payments on a current account are subsidised by higher interest rate payments on a credit card or mortgage loan. It's actually one of the biggest (disguised?) transfers from the 'poor' to the 'rich'. Italy, as (all, I think) of Europe operates on a transaction banking system. Much more equitable IMHO. Margin on credit cards and mortgage payments are lower but each individual transaction is charged. ie. you pay as in most other businesses for usage.

If only....LLoyds and RBS.....

Paying a lesser margin of 0.50% on a £100,000 mortgage, for example, is £500. More than covers Italian (or rest of EU) bank charges. Gaining an extra 0.50% on savings, lo stesso.

JohnHRugby

Thanks. How do I find the italian section?

Regards

John

Lorna at Vicenza

You are in it right now sweetheart.

Beasty

You assume they pay cc interest and have a mortgage, some people do not, free banking does exist, just not for everyone

modicasa

Of course free banking does not exist. You pay, you only have to see the banks profits to realise that. IT's a little cuddly world they have persuaded us to believ exists. Saame as most things..

marcuzzo

Unicredit are good, whereas a local Cassa di risparmio I use,(for not much longer) should where masks, even street robbers would be ashamed of the way they blatently threaten and run off with the loot!!

Pulaski

Banks are just money brokers, they take your deposits and provide you with payment services and some retail credit (credit cards, car loans, mortgages), but much of the "real money" that banks make (i.e. a lot of their profits) comes from lending (your deposits) to businesses, where the typical transactions are much larger.

Maybe1day

I have a UK current account, no credit card just a debit card (issued free) or savings account, etc. I have no charges whatsoever, I send money from abroad (small sums) and make payments electronically. I have not paid any charges for at least 15 years.
In Italy if you go to pay a bill in the bank or post office they charge you upwards of 1.50 Euros. In Spain it is free, you pay only what is on the bill even if it is just cents. This is by going to any bank or post office, no account is necessary.

britaly00

I too was a bit surprised by the charges on current accounts, coming from the UK where I've had a Lloyds Classic account for free since graduating mid-nineties, with free debit and credit cards.
At least in recent years the charges incurred for closing accounts have ended, as has the quarterly gov't tax of €8.5.
Here I'm quite happy with my internet-only account for 1euro per month with unicred.
Certain bolette can avoid tobacconist's and post office commissions such as by registering online with HERA and paying their bills using debit or pre-pay card. However the Tari (?) can't be paid in this way