Allianz Bank — Conto Vedo (Persone Fisiche)
Allianz Bank Financial Advisors S.p.A. · Mastercard
Conto Vedo Persone Fisiche is the retail current account of Allianz Bank Financial Advisors, the Allianz group's advisory-network bank distributed through financial advisors. It is a genuine current account with an IBAN, an Allianz Bank Card international debit card (Mastercard) and SEPA transfers, but it is designed as a hub for investments: its pricing (fee and interest) depends on your Posizione Globale — the total of funds, portfolios, securities and policies held with Allianz Bank, recomputed monthly. Clients with few investments fall into the base bands (Vedo Start / Vedo 1), with a variable annual fee and no interest.
Data & conditions
| Account fee | €4 |
|---|---|
| IBAN | dedicato · IT · IT |
| Deposit guarantee | EU guarantee €100,000 |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | Yes |
| SEPA direct debit (SDD) | Yes |
| On-chain crypto withdrawal | No |
| SEPA transfer | Free |
| Card included | Allianz Bank Card (debito internazionale Mastercard) inclusa, canone €0 |
| Interest on balance | 0% |
| Network | Mastercard |
| ATM withdrawal | Free |
| Free ATM limit | ATM withdrawals in Italy (same and other bank) €0; ATM outside the euro area €3 |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Allianz group financial-advisory network bank · account as a hub for investments |
| MiCA / License status | Licenza bancaria (Albo Banche · ABI 3589) IT banking licence (Bank of Italy) |
Plans & pricing
Vedo Start (fascia base · Posizione Globale < €10.000)
- Price
- €4
- Variable annual fee (0-€46.80 by average balance) + €34.20 stamp duty
- Free Allianz Bank Card (Mastercard) debit card
- SEPA transfers online €0 (€2.50 at a branch) · SDD €0
- ATM withdrawals in Italy €0; ATM outside euro area €3
- Non-interest-bearing (0.00%)
Vedo 2 / Vedo 3 (fasce remunerate · Posizione Globale €10k-€500k)
- Price
- Free
- Higher annual fee (up to ~€136.80) in exchange for interest
- Credit rate linked to 1-month Euribor (floor 0%)
- Assigned automatically based on monthly Posizione Globale
Vedo Oltre (Posizione Globale > €500.000, a richiesta)
- Price
- Free
- Top conditions: SEPA transfers free also at a branch
- Credit rate 1-month Euribor (floor 0%)
Strengths
- Genuine supervised current account with a free Allianz Bank Card (Mastercard) debit card and ATM withdrawals in Italy at €0
- SEPA transfers free if ordered online (€2.50 at a branch); SDD direct debits free
- Interest-bearing bands (based on Posizione Globale) pay Euribor 1-month-linked interest
- Allianz group bank, supervised by the Bank of Italy, with FITD €100,000 deposit guarantee
- No notable sovereignty advantage documented.
Weaknesses
- Opaque, conditional pricing: the annual fee varies (indicatively from €0 to over €130) based on Posizione Globale and average balance — it must be read on the Fee Sheet case by case
- Advisory-first model: genuinely convenient only for those who bring invested assets to Allianz; a client without investments stays in the base non-interest bands
- Distributed through a financial advisor (off-premises offer), not a self-service comparator sign-up
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (IT banking licence (Bank of Italy)): reporting to authorities and freezes on order.
- FATF-aligned jurisdiction: strong cooperation with authorities.
- Closed source: no way to verify what it does with wallet and data.
Verdict
Conto Vedo is a supervised current account solid on protection: an Allianz group bank under the Bank of Italy, FITD €100,000 guarantee, free Mastercard debit card, ATM withdrawals in Italy and online SEPA transfers at €0. The score is held back by cost transparency: the fee is not a fixed number but depends on your Posizione Globale (assets invested with Allianz) and average balance, with a band matrix hard to compare at a glance; clients without investments stay in the base non-interest bands. It is an advisory-first account, convenient above all for those who concentrate their assets in the network.
Supervised bank account: custodial, full KYC, censorable and freezable by court order or AML obligation. The FITD guarantee and Bank of Italy supervision — strengths for protection — are exactly what distance it from the trustless model. No self-custody, no permissionless use: on the sovereignty lens it sits at the opposite pole from a self-custody wallet.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
What does the Conto Vedo fee depend on?
On your Posizione Globale — the total of funds, portfolio management, securities and life policies held with Allianz Bank, recomputed monthly. It sets the band (Vedo Start up to €10,000, Vedo 2 between €10,000 and €50,000, Vedo 3 between €50,000 and €500,000, Vedo Oltre above €500,000) and with it the fee and interest. The annual fee must be checked on the Fee Sheet.
Is it a real current account or just an investment hub?
It is a genuine current account with an IBAN, a Mastercard debit card and SEPA transfers, but it is structured as a hub for the advisory relationship: the best conditions are reserved for clients holding investments with the bank.
Are deposits guaranteed?
Yes, by the Interbank Deposit Protection Fund (FITD) up to €100,000 per depositor. Allianz Bank Financial Advisors is supervised by the Bank of Italy (ABI 3589).
Sources
- Official service page Data verified on Jul 12, 2026