Italians Keep €1.16 Trillion in Bank Accounts, but Fees Are Rising

New figures show that Italian households collectively hold 1,163 billion euros in bank current accounts, underlining a strong national preference for keeping money in traditional deposits rather than in more profitable forms of investment.

According to the data, Bolzano, in northern Italy, has emerged as the wealthiest city in the country, recording the highest level of average wealth held by its residents.

At the regional level, Lombardy has confirmed its position as Italy's richest area, accounting for roughly one fifth of the total wealth held in deposits nationwide. The concentration highlights significant economic disparities between Italy's northern and southern regions.

Despite the scale of these savings, maintaining a current account has become increasingly costly for consumers. Over the past decade, bank fees have risen by 23%, a sharp increase that has drawn criticism from consumer groups.

As a direct consequence, Italians are now paying, on average, more than 100 euros a year simply to keep their accounts open, a cost that adds up considerably for households already dealing with limited returns on their savings.

Analysts note that while Italians tend to favour the safety of bank deposits, this caution comes at a price, particularly as fees continue to climb, eroding the real value of money left untouched in current accounts.

Financial experts recommend that consumers actively compare offers from different institutions, as costs can vary significantly between traditional branches and digital banking services. Choosing accounts with lower maintenance costs, they argue, is one of the simplest ways for savers to reduce unnecessary annual expenses.

The findings point to a broader trend: even as Italian household wealth remains substantial, the growing cost of accessing that money through banking services is placing additional pressure on family budgets across the country.