Here is the "basic" account for pensioners and families

Since June 20, the decree of the Ministry of Economy has entered into force, introducing, in the form of a directive of the EU, also in Italy the basic account free of charge and totally free for retirees and low-income families. basic European current ". The MEF's goal is to include the largest number of households (including the least affluent) in transactions across the current account, ensuring savings on operating expenses. Those who are very familiar with the Internet (and who already use online accounts) or those who live in a big city (and can negotiate favorable terms at the counter) may not feel a strong need for this low-cost account. But in the province and small towns, this opportunity should receive more support. We find what it is, how much it costs, and the authorized operations

WHO CAN JOIN?

The two retirees with an INPS allowance not exceeding 18,000 gross euros per year can claim the "Basic European Current Account" both families with an Isee model of less than 11,600 euros. In all these cases, the account can be obtained free of charge and neither management fees nor stamp duty will be charged. The rules state that it is sufficient to self-certify that your reported income for the purposes of Isee is less than the amount previously stated. However, it is essential to inform the bank of its interest value no later than May 31 of each year: in case of non-communication, the bank may charge ordinary expenses. It is also possible to co-manage the account but only to family members who have been taken into account in the ISEE.

WHAT ARE THE COSTS?

The initiative wants to give everyone the opportunity to make payments and access an instrument of savings, without having to bear the costs of a traditional checking account. Indeed, it is required to pay only the annual fee which, moreover, must be of a limited amount and compatible with the purpose of social inclusion, while additional fees and commissions may not be charged. It is therefore a low-cost account which, compared to ordinary accounts, has considerably reduced costs. Of course, on the other hand, authorized operations are limited. The fact remains that the owners will be able to carry out additional transactions with those who are established but by paying the fees, which these transactions usually allow other bank account holders.

AUTHORIZED TRANSACTIONS

Direct debit transactions in Italy and the Euro zone (Sepa) are unlimited. Payments received by bank transfer (including salary and pension credit) are 36 per year while recurring payments by bank transfer made with account fees are 12 per year; there are at most 6 payments made by bank transfer with an account receivable. Up to 12 payments in cash and checks are allowed, while cash withdrawals at the counter are limited to six transactions. The sending of periodic information (bank statements and summary document) is regulated: one per quarter and includes postage (free). Finally, the list of movements must be contained in six transactions per year

THE BANCOMAT CARD

Banks are obliged to issue an ATM card (which is a debit card in jargon) linked to the current account . basic. There is no management fee while all payment transactions made with this debit card will be free. In the case of withdrawals, those at ATMs (ATMs) of your bank are unlimited and free while those of other ATMs are twelve per year: if you exceed this limit will be charged for withdrawal. Finally, issuing, renewing and replacing the debit card is free once a year.