Online business account

Which documents are required to open an online business account with an Italian IBAN at Finom?

To open a Finom business account with an Italian IBAN, we first retrieve your company’s information from the Italian Business Register using your tax code. If the necessary details are available in the register, the system will automatically enter them; otherwise, we may ask you to enter them manually.

Required Documents

Documents for Sole Proprietors / Self-Employed Professionals

1. Tax code and VAT number.
2. Personal details and address (residential and, if different, business address).
3. Valid ID document (identity card or passport) + short video selfie for verification.

Documents for Companies (S.r.l., S.n.c., S.a.s., etc.)

1. Tax code and REA number (Italian Business Register identification number).
2. Current Chamber of Commerce extract or certificate of registration.
3. Articles of Association or Deed of Incorporation.
4. ID document and video identification for each legal representative.
5. List of Ultimate Beneficial Owners (UBOs) holding more than 25% of shares, with copies of their ID documents.

Verification steps

1. Automatic data collection via tax code.
2. Upload of missing documents to the secure client area.
3. Video identification (Sumsub) for all representatives: ID document + selfie.
4. Electronic signature of the contract.

Once KYC/KYB (Know Your Customer/Know Your Business) checks are complete, your account will be activated, and your Italian IBAN will be operational within 24 hours, with no branch visit required.

Who is considered an Ultimate Beneficial Owner (UBO) when opening a Finom business account, and where can I find this information?

An Ultimate Beneficial Owner (UBO) is any individual who, directly or through related companies, owns more than 25% of the share capital, or is the natural person who ultimately benefits from the operations carried out through the Finom business account.

In SMEs, this role often corresponds to the co-founders or the company president.

You can find the names and ownership percentages of the UBOs in your company’s current Chamber of Commerce extract (Registro delle Imprese), in the Articles of Association / Deed of Incorporation, or in the shareholders’ register, if available.

Do I need to be the legal representative to open a Finom business account?

The application can be submitted either by the legal representative (for example, the managing director, CEO, or owner) or by a person holding a valid power of attorney granted by that representative.

During onboarding, you will be asked to upload documents proving your authority (the power of attorney or evidence of your status as a legal representative), as well as the details of the beneficial owners listed in your company’s current Chamber of Commerce extract. We require ownership information covering at least 76% of the company’s shareholding structure.

How much does it cost to open a business account?

Opening a Finom business account is completely free: there is no charge for activation, and your Italian IBAN is generated within a few hours. Fees only apply to the monthly subscription, which varies depending on the selected plan.

How much do you pay after opening?

• Solo – €0/month. Free plan designed for professionals with lower transaction volumes.
• Basic – €21/month (€17 if billed annually). Ideal for small but growing businesses, with up to 2 users included.
• Smart – €45/month (€37 if billed annually). Higher limits and 3% cashback.
• Pro – €149/month (€119 if billed annually). For structured teams seeking a dedicated account manager, extended multi-user access, and advanced features.
• Grow – €339/month (€249 if billed annually). All-inclusive plan with customizable limits, designed for large enterprises.

Basic and Smart plans include a 30-day free trial, allowing you to test all features with no commitment.

All core services, such as incoming transfers, unlimited virtual cards, e-invoicing, and accounting integrations, remain included or are subject to transparent fees listed in the official pricing schedule.

Is a Finom business account right for your company?

It depends on how your business is structured, the amount of money you manage, and the tools you need.

Cases in which Finom is a good choice:

• You manage everything online and want to save time – free opening in a few minutes, instant Italian IBAN, and electronic signature.
• You work alone or in a small team – Solo plan at €0 per month for freelancers; Basic with 2 users included and a 30-day free trial.
• You need physical and virtual cards with cashback – up to 10 virtual and 3 physical cards free per user, with up to 3% cashback with the Smart plan.
• You want integrated e-invoicing and smart accounting – Finom generates and sends XML invoices, reconciles transactions in real time, and connects to the main accounting software.

How long does it take to open a Finom business account online?

Can I open a business current account if my company is still being incorporated?

At the moment, Finom does not allow the opening of a business account before the company is formally incorporated (that is, before you have a VAT number and company tax code).

However, we can speed up the whole process: we work with TaxCoach, a partner specialized in company incorporation procedures in Italy.

1. Choose the most suitable legal form (S.r.l., S.r.l.s., sole proprietorship, etc.).
2. Complete registration with the Business Register and obtain a VAT number.
3. Receive initial tax consultancy.

Once the company is registered, you can return to Finom and open the business account within 24 hours, immediately benefiting from an Italian IBAN, cashback cards, and integrated e-invoicing.

Does Finom require a physical meeting to open a business account with an Italian IBAN?

What advantages does Finom offer for opening a business account?

Main advantages:

• Very fast opening – “IT” IBAN within 24 hours. Registration is 100% online, with no branch appointments: the Italian IBAN is active within one working day.
• Free basic plan + free trial of higher plans. Finom offers the “Solo” package at €0/month and a 30-day trial for the Basic and Smart plans, so you can test the advanced features with no risk.
• Physical and virtual cards with up to 3% cashback. You can issue Mastercard/Visa cards for yourself and your team and receive up to 3% cashback on purchases made with them.
• Free SEPA transfers and international payments in 17 currencies (180 countries).
• Integrated e-invoicing and accounting. Generate and send e-invoices directly from your account, with automatic reconciliation of invoices/receipts and more than 30 accounting integrations (Sage, Odoo, etc.).
• Expense management and multi-user access. Real-time dashboard, customizable limits for each employee, dedicated accountant access, and the possibility to create multiple sub-accounts/users depending on the plan.

In summary, Finom combines instant account opening with an Italian IBAN, transparent pricing, and payment/invoicing tools designed for SMEs, professionals, and startups that want a single platform to manage banking, cards, and accounting.

What happens to my Finom business account if I turn my sole proprietorship into an S.r.l. (Limited Liability Company)?

1. There is no need to open a new account: with Finom, your profile is linked to the business entity you choose, between Freelancer and Company. You can switch from a sole proprietorship to a company directly from Settings › Business Profile › Edit Profile, then select Company.
2. Document update (KYB): Finom will ask you to upload the current Chamber of Commerce extract, the Articles of Association, and the UBO list, then it will repeat the anti-money laundering check for the new legal form. The IBAN and transaction history will remain unchanged.
3. Invoicing and Partita IVA: when switching to an S.r.l., Finom will update the way your VAT number is displayed on your e-invoices; the system automatically adjusts the header of your electronic invoices.
4. Alternative option: you can add the new company to your Finom profile and manage two distinct accounts – one for the sole proprietorship and one for the S.r.l.

Summary: simply change the business type in your settings (or add a new company) and provide the updated documentation; the IBAN remains the same, and the account will continue to operate without interruption.