glossario

The ICC is a European indicator introduced by the Bank of Italy to make communication with consumers more transparent. It offers an estimation of the costs of maintaining a current account, tailored to different user profiles (young people; households that make a low, average or large number of transactions; retired persons with light or average account usage).

It is useful for quickly comparing the costs of the various current accounts offered by banks. The ICC may be very different from the actual cost incurred at year-end, based on how the customer really uses the account. It is set out in the Information Sheet that banks are required to provide to customers before they open a current account.