Is it true?

Not at all! Current account portability makes this much easier. You have the right to transfer all or some of your payment services - as well as any positive balance - to another account at a different provider. You can choose whether to keep your old account open or close it.

The transfer follows a simplified process and must be completed within 12 working days.

To find out more, see Switching your bank accounts with portability.

Not necessarily. If you've invested in variable-rate or short-term products – such as Treasury bills – or if you have savings ready to invest, then rising interest rates could work in your favour. You may receive higher returns.

But if you already own fixed-rate products like fixed-rate bonds, an increase in interest rates usually means those investments lose value. That's because new bonds on the market offer better returns, making older ones less attractive - and their prices fall as a result.

For more details, see Before investing.

Not anymore. In the past, you had to sign the receipt, and the signature on the card plus an ID check helped confirm your identity. But times have changed. Today, secure payments are based on a system called 'strong customer authentication', which requires two types of proof of identity. Since 2020, a signature is no longer considered valid authentication.

The three types of authentication are:

1. something that identifies you (like a fingerprint);
2. something you have (like your credit card);
3. something you know (such as a PIN or password).

For more details, read the page dedicated to credit card.

No, you can do without.

The ABF is an alternative dispute resolution system for disputes between customers and banks or other financial institutions. It provides quick decisions and is designed to be user-friendly.

You can submit a claim yourself online – it's simple and straightforward. You don't need legal assistance or help from a professional. Consult the plain-language guide to the ABF.

Not at all - you can do it yourself!

The Central Credit Register (Centrale dei rischi - CR), run by the Bank of Italy, is a database that holds information about the debts of households and businesses towards banks and other financial institutions.

Access to CR data is allowed to:

• individuals whose data are recorded, or someone authorised by law to act on their behalf;
• legal entities - such as companies, associations or institutions – through their legal representative or another authorised person.

Access is free of charge for those concerned. Banca d'Italia usually replies within 30 days of receiving the request. You'll find a simple guide here!