Current account for all, final approval from the Chamber: costs, rules, and benefits

The Chamber of Deputies recently approved a bill aimed at making current accounts accessible to all citizens by eliminating barriers and simplifying access to essential banking services. This new measure introduces clearer and more transparent rules, with the aim of promoting financial inclusion and ensuring everyone has the opportunity to have a current account.

Today, Wednesday, July 23, the Chamber of Deputies unanimously approved a law requiring banks to open a current account for anyone who requests one, with no possibility of refusal except for reasons related to compliance with anti-money laundering and anti-terrorism regulations. The new regulation, inserted into the Civil Code with Article 1857-bis, establishes that credit institutions must accept the signing of the contract, except in exceptional cases, in which they must provide written reasons for the refusal within ten days.

Furthermore, the bill prohibits banks from closing accounts with a positive balance, thus ensuring greater stability and protection for account holders. This measure aims to simplify access to banking services, promoting financial inclusion and strengthening the relationship of trust between citizens and the banking system.

Regarding costs, although the law requires account opening and limits the reasons for closing, it does not directly address the fees charged by credit institutions. Several associations, including Codacons, have expressed concern about the potential financial impact on consumers, calling for careful monitoring of the fees charged. The hope is that, with this new regulation, current accounts will become accessible to all, without discrimination, but also economically sustainable , ensuring that no citizen is excluded from using essential services for managing money and performing daily transactions.

Current Accounts for All: Political Reactions and Consensus on the New Law

League Party Secretary and Deputy Prime Minister Matteo Salvini called the House's approval of the bill a victory for his party , emphasizing that it is a historic battle to protect citizens in need. Brothers of Italy also emphasized the importance of the measure's approval: Saverio Congedo, group leader in the Finance Committee, explained that this law fills a regulatory gap that has existed for years , marking significant progress toward strengthening the principle of financial inclusion.

The measure has also received positive feedback from opposition forces. Toni Ricciardi, a member of Parliament for the Democratic Party , stated that the law helps restore trust between the state and citizens by eliminating the need to demonstrate excessive requirements to exercise a fundamental right.

Giulio Sottanelli, a member of Azione , highlighted how the introduction of the IBAN code encourages regular employment and combats tax evasion, transforming banks and insurance companies into true providers of a public service aimed at social inclusion and respect for human dignity.