Best Online Accounts Comparison 2024

An online current account is a bank account that can be opened and managed entirely via the Internet via an app or desktop platform, without the need to physically go to a branch. Through the so-called Home Banking or Internet Banking portals, you can carry out all the most common operations, from money transfers to paying bills and checking your balance in real time.

Today, these tools are used by the vast majority of users, as in addition to the numerous functions they are also convenient from a cost point of view. However, it is not always easy to make a decision without being informed on the subject. In this regard, the following ranking of the best online accounts with Home Banking of 2024 will be useful.

• Comparison of the Best Online Accounts of 2024
• 1. Mediolanum
• 2. Fineco
• 3. I believe
• 4. ING
• 5. I believe
• 6. Revolut
• 7. Hype
• 8. unlimited
• 9. BBVA
• 10. Webbank
• 11. Tinaba
• How much does an online checking account cost?
• What does it take to open an online checking account?
• Why open an online account?
• Differences between a digital and a traditional account
• How to choose a web account
• Summary
• Frequently Asked Questions About Online Bank Accounts

Comparison of the Best Online Accounts of 2024

To recommend online banks where to open a current account in 2024, we have adopted a classification method that considers several crucial factors for this type of tool. First, we have evaluated the quality of Internet Banking , focusing on elements such as intuitiveness, security and access to advanced services.

Costs and commissions were another focal point that allowed us to select solutions with discounted fees, especially for young people under 30 who can benefit from online accounts with no fees. After that, we took into account the cards included , evaluating both debit and credit cards.

Finally, we analyzed the ease of opening the various current accounts and the presence of additional functions such as cashback, digital piggy banks and investment sections, an added value for those who want to manage money efficiently. The result is this ranking in search of the best online current account.

1. SelfyConto by Mediolanum

SelfyConto by Mediolanum is one of the best online accounts around, with zero fees for those under 30 and all other users for the first year . Commission-free withdrawals at ATMs in the Eurozone and free SEPA transfers are included. In addition, there is a convenient debit card that is free for the first year, which can be maintained for €10 from the second year onwards.

The dedicated Home Banking app is also particularly intuitive and allows you to make F23, F24, MAV, RAV payments, phone top-ups and SDD charges without commissions.

There is no shortage of additional services and products such as credit cards (on request and free for the first year), mortgages, financing and insurance. To apply, you just need to be at least 18 years old, be a resident in Italy and complete the opening procedure directly on the official website.

2. Fineco

As with the Mediolanum online account, the Fineco one is also offered with a zero fee for those under 30. The conditions for the debit card and transactions are a little different. The ATM card costs €9.95 per year , and it is possible to request a Mastercard or Visa credit card with a customizable credit limit at a cost of €19.95 per year .

As for withdrawals , these are free if they exceed €99 (otherwise €0.80), while SEPA transfers are free of commissions. Through the app you can charge utilities, taxes, MAV, RAV, F24 and phone top-ups without costs.

In addition, there is an investment section for those who want to make their savings grow, with reduced commissions on Italian and US stocks and ETFs, and free accumulation plans. You can also charge utility payments, bills, taxes, MAV, RAV, F24, phone top-ups and direct debits free of charge.

The request can be made by adult users both online and in branch .

3. Crédit Agricole

The Crédit Agricole Smart online account is free for those under 30 and costs €7 per month for everyone else , with the possibility of reductions by activating functions and crediting your salary.

This online current account has a Crédit Agricole Bancomat debit card (paying €3 for issuance ). As for operations, withdrawals are free at the Group’s ATMs, but 30 withdrawals at other banks’ ATMs are also included. Bank transfers, on the other hand, can be sent via the Home Banking app at a cost of €0.75.

Always online, you can access the following functions:

• request appointments with a consultant;
• request for products with detailed simulations;
• enable real-time notifications on movements;
• payments to other accounts without knowing the IBAN;
• activate mortgages and investments.

The activation request can be made directly online by adults, or in a branch by appointment.

4. ING Orange Account

Among the best online accounts in terms of management costs, one of the most convenient is Conto Arancio by ING. With a free fee for everyone , it allows you to withdraw via the free debit card at a cost of €0.95, and to send SEPA transfers at no cost up to €50,000.

Through the app you can make CBILL, PagoPA, F24, MAV, RAV and postal payment slips. Additional services are also available such as PagoFlex, which allows you to pay in installments at a cost of €2 and with a monthly fee of 0.50%.

In addition, upon request it is possible to activate the MasterCard Gold credit card with a customizable limit to expand your spending margin.

All commissions can be eliminated with the Arancio Più plan, which costs €5 per month but can be eliminated with a deposit of at least €1,000 per month into the digital account.

In short, by crediting for example the salary, it is possible to have an excellent online current account completely free, subject only to the annual stamp duty. The request can be made online by all adult users with residence in Italy.

5. I believe

Credem Link is an online current account with zero fees and a free debit card for the first year , which can be maintained from the second year onwards at a cost of €1.50 per month. In addition, you can request a national debit card with the PagoBancomat circuit with zero fees to pay and withdraw cash in Italy, also accessing the Fastpay circuit to quickly pay motorway tolls.

Withdrawal fees are zeroed if you use Credem ATMs, while on other ATMs the cost is €1.90, with 24 free transactions included.

Through the dedicated app, you can monitor movements, make transfers at a cost of €0.50, charge utilities and pay F23, F24 and taxes. In addition, you can book remote consultations and appointments based on your needs.

In combination, you can open a deposit account with rates up to 3.5% gross with a six-month maturity, designed for those who want to make their savings grow without tying up the funds for too long.

To open a digital account, you just need to be an adult resident in Italy and activate the Electronic Signature service required by Credem, following the procedure directly online.

6. Revolut

Revolut is a highly regarded online current account because it is convenient , full of functions and suitable for international use. Specifically, we are talking about a prepaid card with IBAN and virtual account, which allows you to make free SEPA transfers and withdrawals without commissions up to €200 per month (or 5 operations).

The strong point of this web current account, however, is the possibility of accessing a multi-currency wallet , with foreign currency exchanges without additional commissions up to €1,000 per month.

Also through the app, it is possible to make investments in cryptocurrencies, stocks and raw materials, functions designed for those who want to make their savings grow with a simple tool.

Furthermore, the account is available in an under 18 version that can be activated from the age of 6, with limited functions and parental control to keep everything under control.

To activate the online current account, just go to the official website and download the dedicated app to complete the request.

7. Hype

With so much success in recent years, HYPE presents itself as one of the best online current accounts for young people who want to save but at the same time want to have a complete solution and an excellent application at hand .

This is a card account with IBAN that offers the same functions as a current account, allowing you to make payments, withdrawals, bank transfers, direct debits, telephone top-ups and simplified F24 payments.

Everything can be managed through the dedicated Home Banking app, from which you can access additional tools such as cashback programs , instant credit lines, personal loans and insurance.

As for costs, the basic plan has no fees , with free withdrawals up to €250 per month (then €2) and no-cost transfers. Top-ups, on the other hand, cost €2.50 if done in cash and €0.90 if you use another card from the HYPE app.

The request can be made online by users of legal age, but also by those aged 12 and over thanks to the presence of HYPE under 18 (with limited functions).

8. unlimited

Another of the best online current accounts is illimity, a completely digital solution designed for the younger generation and technology lovers. The fee for maintaining the account is €3 per month , but it can be eliminated by crediting your salary or pension , or by activating a non-withdrawable deposit line of at least €5,000.

You can request a free international debit card , or a credit card at a cost of €20 per year. As for operating costs, there are 3 free withdrawals per month for amounts of €100 or more, while alternatively the cost is €1.50 per operation.

Directly from the app you can send SEPA or instant transfers without commissions , make payments and access innovative functions such as expense analysis to obtain precise and detailed reports, and illimity Connect, which allows you to connect all the banks with which you have an account.

In addition, through SMS Alert you can always stay updated on transactions, preventing fraud and unauthorized purchases. You can also activate a deposit account with interest rates of up to 3.75%, so you can make your savings grow. The request can be made directly online in a few minutes, simply by following the appropriate procedure.

9. BBVA

Among the best online current accounts we also find BBVA, an innovative and 100% digital account that allows you to amortize expenses to the maximum.

In addition to the free fee for maintaining the account and for the debit card , the following services are available without commissions:

• instant and ordinary SEPA transfers;
• advance payment of salary up to 5 days before;
• withdrawals starting from €100 throughout the Euro zone;
• purchases in foreign currency.

In addition, you can receive a 10% cashback on purchases up to €50 , credited directly to your account.

Among the additional features of the online account, the 3% flexible deposit and the Piggy Bank Account to set aside funds for new projects also stand out.

You can also pay off your purchases in installments via Pay&Plan, or request an immediate loan, keeping everything under control directly from the app.

10. Webbank

The Webank account is an online current account suitable for those looking for savings and convenience in a single solution. In fact, through the dedicated app, it is possible to make transfers throughout the SEPA area and abroad , direct debit bills and pay municipal, university and public body taxes directly online, including CBILL and PagoPA payments.

In addition, you can pay F23 and F24 forms, request checks and make payments of MAV/RAV and bulletins. There are also additional services such as WebankTrasloco, which allows you to transfer balance and financial instruments from the old account, and WebankPrestito to request a personal loan of up to €30,000.

You can also deposit cash and checks, top up online and apply for a mortgage if necessary. Also from the app, you can request free credit cards such as Cartimpronta ONE, international debit cards with no fee and prepaid cards such as the Prep@id by Banco BPM card, which is also free.

As for management costs, withdrawals are free at Banco BPM ATMs , while at other ATMs there is a €2 commission, with 3 free withdrawals per quarter.

Bank transfers, on the other hand, do not involve any commission, as well as the fee that is eliminated by taking advantage of the current promotions ( 2€ per month without promo). To open an online account, just go to the Webank website and follow the appropriate guided procedure.

11. Tinaba

With the Tinaba online current account you can access an intuitive Home Banking application complete with all the basic functions for managing your savings .

Like HYPE and Revolut, Tinaba is a completely virtual online account associated with a prepaid card with IBAN . In this way, it is possible to offer all the functions of a current account and a prepaid card for negligible costs.

The fee is free, 4 transfers per month are included (then €0.49) and 12 withdrawals per year (then €2). Online you can:

• make bank transfers and money transfers;
• top up your phone;
• pay stamps, payment slips, MAV/RAV and PagoPA;
• purchase gift cards;
• carry out trading in cryptocurrencies;
• create a piggy bank through Roboadvisory;
• share expenses;
• open a deposit account.

As a result, Tinaba’s online account is suitable for various types of users, from the young student to the worker who wants to manage their funds without incurring high costs.

The request can be made directly online even by minors aged 12 and over, who can request a virtual account with limited functions.

How much does an online checking account cost?

When choosing to open an online account, it is advisable to evaluate all the associated costs so that you are prepared to face all the necessary expenses and avoid spending more than necessary.

Here is a summary list of the main expected cost items:

1. fee : some options may include a fee ranging from €1 to around €4 per month depending on the functions and services included, although the best online current accounts offer a free fee for younger people or those who pay their salary;
2. commissions : commissions for withdrawals, transfers and payments may include extra costs depending on the selected bank, which generally range from €0.50 to €2;
3. Payment cards : If your online account includes a debit or credit card, this may require an additional fee to be taken into account;
4. stamp duty : anyone with an average annual balance of more than €5,000 is required by law to pay a stamp duty of €34.20, although some virtual accounts such as Tinaba provide exemption from payment;
5. additional services : additional services such as mortgages, loans, financing, insurance and the like clearly involve additional costs that will increase the total costs during the year.

To the above items may be added opening and closing costs or costs for sending the online statement , even if the majority of digital accounts do not include extra costs of this type. All costs are always available in the information sheets.

What does it take to open an online checking account?

Opening a current account online is an extremely simple procedure because it is carried out directly from the apps or web platforms . Furthermore, the documents to open an online current account are those at hand, easy to find. In most cases, only an identity document , the tax code , a proof of residence (e.g. utility bill) and your personal data are required.

Generally, there are no income or specific requirements , other than reaching the age of majority.

The procedures are also very similar to each other, but may vary slightly depending on the institution selected:
go to the bank’s official website;

1. look for the item “open an account” or register;
2. fill in the various fields with your personal data;
3. enter email and phone number;
4. upload the required documents;
5. confirm your identity according to the methods provided;
6. sign the contractual documents;
7. wait for the physical card to be sent if included in the account.

Typically, activation times can take a few hours for 100% virtual accounts and a few days for traditional accounts. Physical cards , on the other hand, are usually shipped within 10-15 business days .

Why open an online account?

Given the characteristics of online accounts, it is clear that these are very convenient tools that include numerous advantages.

The main strength of these products is the ability to manage all operations independently , avoiding having to physically go to the counter and saving precious time.

By eliminating intermediation, the overall costs of the service are also reduced , which are significantly lower than traditional accounts. In fact, there are also free online current accounts with no commissions.

Furthermore, by checking movements in real time with notifications and alerts, it is easier to identify suspicious movements or unauthorized operations, blocking or suspending the card if necessary.

Added to this is the possibility of downloading the account statement in digital format, paying bills, F24 and other services from home and accessing additional products such as mortgages, financing and loans without having to make appointments .

Moreover, by reducing management costs, banks are able to offer better interest rates on deposit and savings accounts, making them more interesting for the end customer.

Differences between a digital and a traditional account

The differences between online current accounts and traditional accounts are substantial. In the first case, the user can do everything in complete autonomy directly from a smartphone or a mobile device, while with a traditional account some operations require physical presence at the bank starting from the opening.

Another difference is related to costs : if an online account can offer free fees and reduced commissions, a traditional one is generally less economical, especially for intermediated operations.

In addition, the functions present in Home Banking apps are decidedly different. In digital accounts, there are often sections for investments, deposit accounts or virtual piggy banks, while the classic ones only have basic tools such as transfers and balance control.

On the other hand, however, a traditional account can be useful for those looking for in-person support channels or more traditional services such as mortgages and loans.

How to choose a web account

To choose the best online checking account, along the lines of what we did to draw up the ranking, you need to evaluate all the factors that can make a difference when using it.

First of all, you need to consider the management costs , which must be in line with your spending margin. After that, we recommend evaluating the functions present in the Home Banking app so that you can access everything you may need in your daily life, from bank transfers to F24 payments, stamps, MAV/RAV and utilities.

The presence of debit and credit cards should not be underestimated , a great convenience for everyday expenses and cash withdrawals at ATMs. These may require a fee, but some online accounts offer zero-fee cards.

Last but not least, assistance should be available in Italian on multiple channels so you are not left alone in times of need.

Summary

Without a doubt, online current accounts are among the most popular products when it comes to tools for managing personal finances. Economical, flexible and manageable directly from home , they are an excellent opportunity to encourage saving and the correct use of money.

The general advice we can give for choosing these products is to look for the best online current account with all the functions of your interest, trying to find a good balance between costs, services and security offered by the bank. In this sense, among the best online accounts there are Mediolanum, Fineco, Credem, Revolut and HYPE.