How do you use your account? The Banca d'Italia's survey on current accounts

Reading time 3 minutes

Published on 23/03/2026

"How much do you really cost me?" Anyone with a few years under their belt might remember this famous question from a worried mother in a 1990s SIP television advert - back when Italy's telecoms company was still called SIP - scolding her daughter for spending too much time on the phone.

We all pay something to manage our phone usage. And most of us also pay for a current account - but how much does it really cost us? Should we be as worried as the mother in the advert?

In 2024, considering all types of current accounts (traditional, online and postal), the average annual cost was around €85, a decrease compared with the previous year. This drop is mainly due to the growing use of online accounts, which are generally cheaper. This reduction was bigger than the increase in banking service fees and the increase in variable costs linked to more frequent account use.

These figures, along with many other interesting insights into the cost of current accounts, come from the Banca d'Italia's latest annual survey, which examines the actual expenses borne by Italian households for managing their current accounts in 2024.

The survey shows that the cost of an account does not depend solely on the annual fee, but above all on how the account is used. What really matters are: the number of transactions, the degree of digitalization, the fees charged (such as overdraft fees), and the type of account (pay-per-use, where you pay per transaction, or package accounts, where you pay a fixed amount for a bundle of services).

Traditional accounts

In 2024, the average annual cost of a traditional account - those opened and managed at a branch - was about €101, essentially unchanged from the previous year.

Fixed costs, such as the basic account fee and the debit card fee, decreased slightly. Variable costs, such as charges on transactions (credit transfers, direct debits, etc.), increased because households used their accounts more frequently. In addition, the cost of certain services, such as cash withdrawals from ATMs, also rose on a per‑transaction basis.

In short, the account itself costs a little less thanks to lower annual fees, but customers carried out more transactions, keeping the overall annual average stable.

Online accounts

Online accounts remain far cheaper than traditional ones: an average of €31 in 2024.

Fixed costs went down, while variable costs - as with traditional accounts - increased due to a higher number of transactions, including credit transfers and cash withdrawals. As a result, the average cost of an online account rose slightly compared with 2023.

Postal accounts

For BancoPosta accounts, the average cost increased from €67 to €72, due to higher fixed and variable expenses.

Is one type of account always cheaper?

While the annual fee is certainly something to consider, there is no single account that is the cheapest for everyone. The most convenient option depends on your personal habits.

For example, if you frequently withdraw cash from ATMs belonging to banks other than your own, or make many bank transfers, you should pay close attention to the cost of these individual transactions, not just the annual fee. In the past, we have explained how to save on current account costs.

Today, very low-cost solutions such as online accounts are widely available - but it is still important to check the prices of the transactions you use most often, to avoid unpleasant surprises.

And if you already have an account and find a better, cheaper or more suitable offer elsewhere, you can switch banks or other providers at no extra cost and within guaranteed timeframes. The legally regulated process for switching is called the "payment account transfer" or account portability.

Knowing these aspects helps you make better choices and manage your money more consciously. And over a year, the savings on your current account might even pay for a nice dinner for two!