Best GBP currency account in Italy

If you travel to the UK frequently, send payments abroad, receive a salary in British pounds, or want to diversify your savings and investments, a GBP account in Italy can help. You can open a GBP account with a digital provider like Wise, or with a small number of Italian based banks.

Account types, features and fees vary a lot depending on the product you select – with options for everyday spending, saving and business needs. Digital providers like Wise go one step further by letting you keep pounds alongside 40+ other currencies, so you can swap between GBP and EUR whenever you need, and spend globally with a linked debit card. This guide covers all you need to know.

What is a GBP currency account in Italy?

A GBP currency account is a bank or online account that lets you hold money in British pounds, even while you’re living in Italy – or anywhere else for that matter. Think of it as a simple way to separate your sterling from your euros, so you don’t need to convert every time you want to spend or make a transfer. Some accounts focus only on pounds, while others are multi-currency, giving you the flexibility to hold, send and exchange several currencies in one place.

What can you do with a GBP account in Italy?

Having a GBP account in Italy can make day-to-day financial management easier for anyone with ties to both the UK and Italy. From receiving income to planning conversions, the account gives you flexibility in how you manage your money.

• Receive income in GBP: If you earn a UK salary or pension, you can have it paid directly into your account.
• Save funds in pounds: Hold your balance in GBP and wait for a favourable exchange rate before converting into euros.
• Send money abroad: Move money back to the UK or to other countries. Providers like Wise often keep transfer costs lower by using the mid-market rate.
• Spend while in the UK: Use a debit card linked to your GBP account when travelling back home to avoid unnecessary conversion fees.
• Exchange currencies when needed: Switch between pounds, euros and other currencies whenever it suits you with a multi-currency account.

Types of GBP accounts in Italy

You’re likely to come across the following two most common types of accounts while on the hunt for a GBP currency account in Italy:

Multi currency accounts: Designed for people who frequently move between different currencies, multi-currency accounts keep GBP alongside euros and other major currencies in one place, letting you exchange between them whenever you need to. Most also come with a linked card for everyday spending, making them a good choice if you’re paid in pounds but live day-to-day in euros.

• Wise: Hold GBP and 40+ other currencies, switch between them at the mid-market rate and spend worldwide with the Wise debit card.
• Revolut: Manage GBP, EUR and other major currencies with tiered plans that also include budgeting tools and some travel benefits.

Foreign currency accounts: A foreign currency account is usually tied to a single currency like GBP. Banks in Italy don’t commonly offer these accounts, as foreign currency account services tend to be more aimed at business customers.

• Intesa Sanpaolo GBP Currency Account – Foreign currency deposit account which does not have a bank card, but allows deposits and withdrawals in branches instead.

Best GBP currency accounts in Italy

Even though you’ve made Italy your home for now, you may still need to manage money in more than just euros. Many expats still earn, save and spend in GBP, so having the right account is essential if you want to make everyday life easier. Luckily you have some options – you can choose a foreign-currency account from an Italian bank, or opt for a digital provider like Wise or Revolut if you want flexibility and simple tools for managing multiple currencies.

Banks tend to suit those who want options for savings alongside large transfers, while online providers often work better for everyday use, low-cost conversions and travel spending. We’ve selected Wise and Revolut as multi-currency options, with Intesa Sanpaolo as a bank example, looking at fees, ease of use, supported currencies and accessibility for residents and non-residents alike. Below you’ll find a quick snapshot of each option, followed by more detail to help you decide which account works best for you.

Banks and alternatives	💡 At a glance
Wise Account	Hold and exchange GBP and 40+ other currencies; spend in 150+ countries and receive with local GBP account details.
Revolut Account	Tiered plans; hold/exchange GBP, EUR and more; budgeting tools and travel perks for higher tiers.
Intesa Sanpaolo GBP Currency Account	Single‑currency GBP; no card; allow branch services including deposits and withdrawals.
Payoneer Account	Created for freelancers and businesses, with GBP receiving accounts, multi-currency balances and a card.

Wise GBP account in Italy (multi‑currency)

Wise offers a multi-currency account built for flexibility. You can hold GBP alongside 40+ other currencies in one place, and switch between them whenever you need using the mid-market exchange rate with a small, transparent fee starting from 0.47%.

Local GBP account details are included, which makes receiving pounds from the UK straightforward. You can also order a Wise debit card to spend directly in 150+ countries or withdraw cash from ATMs abroad. Accounts are free to open and easy to set up and manage entirely online.

• Hold and exchange GBP with 40+ other currencies
• Receive local account details to receive GBP without extra fees
• Spend or withdraw abroad with the Wise debit card

Account opening fee: None for personal customers. Business customers need to pay €55 to unlock full account features.

Eligibility criteria: Available to residents of Italy and many other countries worldwide.

Supported currencies:GBP, EUR, USD and 40+ others.

Monthly fees: None.

Exchange rates: The mid-market rate.

Revolut GBP account in Italy (multi‑currency)

Revolut provides an app-based account where you can manage GBP, EUR and 30+ other currencies from your phone. All plans include a debit card, instant spending notifications and budgeting tools. The Standard plan has no monthly fee and covers everyday needs, while Plus, Premium, Metal and Ultra tiers add higher allowances and perks like airport lounge access and higher no fee ATM withdrawals. Currency exchange has no extra fee within your plan’s limits, but there are some variable fair usage fees once you go beyond.

• A debit card included on every plan
• Hold and exchange GBP, EUR, and 30+ currencies
• Extra travel perks and higher allowances on premium plans

Account opening fee: None.

Eligibility criteria: Available to residents of Italy and other supported countries.

Supported currencies: GBP, EUR, USD and 30+ others.

Monthly fees: No fee on Standard plans; Higher tiers range from €3.99–€55 per month.

Exchange rates: Revolut rate with no additional fee during market hours up to plan allowances; up to 1% fee above; up to 1% surcharge at weekends.

Intesa Sanpaolo GBP Currency Account

Depending on your personal circumstances and requirements you may be able to open an Intesa Sanpaolo GBP Currency Account which is a single currency account with no debit card. You can deposit and withdraw cash at branches if you need to, and make payments electronically.

International transfers in euros in the SEPA area have no fee, but other foreign payments within the EU/EEA, or in foreign currencies to other countries cost from 13.6 EUR. There’s also a 47 EUR annual fee to pay.

• Send and receive GBP payments digitally
• Deposit cash if you choose to, in a bank branch
• Well known bank with a large network for face to face service

Account opening fee: None.

Eligibility criteria: Available to residents of Italy

Supported currencies: GBP (other currencies may be available, but you need to open an additional account)

Monthly fees: No monthly fee – annual fee of 47 EUR

Exchange rates: Bank’s own exchange rates for conversions, which may include a markup

Payoneer GBP account for freelancers in Italy

Payoneer is built for freelancers, contractors and small businesses who need to get paid in GBP. The account provides local receiving details in the UK, so clients can pay you as if you had a domestic account. Balances can be held in GBP and several other currencies, converted into Euros, or withdrawn to your Italian bank. You can also use the Payoneer Mastercard to spend directly from your balance, making it a convenient option for global business payments.

• Local GBP account details for receiving payments from UK clients
• Multi-currency balances with simple conversion options
• Mastercard available for worldwide spending and withdrawals

Account opening fee: A registration fee may apply in some countries.

Eligibility criteria: Open to verified individuals over 18 and businesses worldwide.

Supported currencies: GBP, EUR, JPY, CAD, AUD and more.

Monthly fees: No monthly fees, but there is an annual 29.95 USD fee.

Exchange rates: Markup on top of the market rate with a 0.5% conversion fee.

Fees for GBP accounts in Italy

Costs can look very different depending on the provider you choose. Some accounts are easy to manage with no fixed charges, while others include ongoing fees or hidden extras. Here are the main ones to watch out for:

• Account opening fee: This fee doesn’t always apply, but can be a one off cost when setting up your account or applying for a card.
• Monthly maintenance fee: Many digital providers, including Wise and Revolut, don’t apply monthly charges.
• Annual fee: Some banks apply a yearly fee instead of a monthly one. The Intesa Sanpaolo GBP Currency Account has an annual fee of 47 EUR to pay.
• Currency conversion fees: Converting pounds to euros or another currency often comes with a margin added by the bank, which increases the cost of transfers and payments. Some digital services, such as Wise, use the mid-market exchange rate and add only a small transparent fee, which can work out cheaper.
• Receiving GBP payments: Italian banks may charge when you receive money from the UK or other countries, especially if the payment comes via SWIFT. Wise provides local GBP account details for free incoming transfers, with only a small charge on international wire payments.
• ATM withdrawal fees: Banks in Italy generally allow free euro withdrawals from their own ATMs, but foreign currency accounts may not come with a card. Providers like Wise and Revolut include a monthly allowance of free ATM withdrawals before small charges kick in.

How to open a GBP account in Italy

While the exact steps for opening a GBP account in Italy can vary between banks and online providers, you’ll almost always need to show proof of your identity and where you live. In some cases, you’ll also need to confirm your residency status or income.

With banks in Italy: If you choose a bank in Italy, you may need to complete your application in a branch. Banks often require your passport, proof of address (in Italy or abroad) and your Codice Fiscale (foreigner ID number) if you’re a resident.

After these document checks, the bank can open your GBP account, but processing times and exact requirements depend on the bank you choose.

With online providers: Opening a GBP balance with an online provider, such as Wise or Revolut, is often faster and more convenient. Everything can be done digitally: you sign up using your email or an Apple or Google account, upload a photo of your passport, driver’s license, or ID card and confirm your identity with a quick selfie or video. Once verified, you can hold GBP, receive payments with local account details, send money abroad and order a Wise card to spend in multiple countries.

How to use your British pound (GBP) account in Italy

Managing two currencies can feel complicated at first, but a GBP account in Italy makes it far easier to keep control of your money on both sides of the Channel. Multi-currency accounts are useful for expats, as they merge tools and services for sending, receiving, holding and spending in pounds and euros without the constant expense and need for conversions.

Here are some of the most useful ways you can use a GBP account in Italy:

• Send and receive international payments: Move money between Italy and the UK, or receive transfers from friends, family, or clients abroad.
• Hold pounds securely: Keep your savings in GBP and only convert to euros when rates are in your favour to get more value out of your money.
• Currency exchange on your terms: Convert between GBP, EUR and other currencies at competitive rates. Wise uses the mid-market rate with a small, transparent fee, giving you clarity and control.
• Spend abroad with a card: Use a linked debit card for everyday shopping and travel purchases. Providers like Wise and Revolut make it easy to spend directly from your GBP balance or switch to euros when needed.
• ATM withdrawals in Italy and beyond: Access your pounds as cash at ATMs. Digital providers often include a fee-free allowance, while banks may apply a set charge per withdrawal.
• Cover recurring payments: Pay UK bills, mortgages, or subscriptions straight from your GBP account without unnecessary conversion fees.

Conclusion

Opening a GBP account in Italy can take a lot of the stress out of managing money between two countries. If you’re looking for a safe place to hold pounds, an easy way to pay UK bills, or the flexibility to spend in both currencies, the right account will depend on your needs and residency status.

Established banks may appeal if you prefer in-branch support or want to save money in pounds. Digital providers such as Wise, on the other hand, are often more practical for everyday use, giving you the freedom to hold GBP alongside 40+ other currencies, spend abroad with a debit card and move money internationally at the mid-market exchange rate.

If you’re looking for flexibility and low-cost features, consider opening a multi‑currency account with a provider like Wise account that allows you to get GBP account details, a debit card to spend in 150+ countries and an account that holds +40 currencies.

Useful resources:

• Wise – Hold and exchange GBP and 40+ other currencies, with local account details and a debit card for global use (checked 9th January 2026).
• Revolut Italy – Multi-currency digital account with debit card, budgeting tools, and travel perks (checked 9th January 2026).
• Intesa Sanpaolo GBP Currency Account – Information and fees relating to foreign currency accounts – in Italian (checked 9th January 2026).
• Payoneer – Business-friendly platform for freelancers and companies, with local GBP receiving accounts (checked 9th January 2026).