Banca MPS — Conto MPS Mio Modulo Plus
A plan byBanca MPS — Conto MPS Mio · Mastercard
MPS Mio is the modular retail current account of Banca Monte dei Paschi di Siena, the world's oldest bank still operating (1472). You pick one of three modules — Easy €4/month (new customers only), Plus €10/month and Extra €12/month — switchable for free at any time. Free unlimited online SEPA and instant transfers on all modules, Mastercard debit card included at €0. Stackable monthly discounts can zero the fee: −€2 under 30, −€2 with salary/pension crediting or inflows ≥€700/month, plus discounts for additional products.
Modulo Plus
- Price
- €10
What's included
- Everything in Easy + branch operations: 6 counter operations per quarter and 1 counter transfer per month
- 24 free SDD direct debits/year
- Welcome discount −€2 + other stackable discounts
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 | Nuova Carta Montepaschi Debit Mastercard inclusa, canone €0 |
| Interest on balance | 0% |
| Network | Mastercard |
| ATM withdrawal | Free |
| Free ATM limit | MPS Group ATM withdrawals €0; other ATMs in Italy and the euro area €2.10 |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia · BCE (MVU) |
| Segment | B2C |
| Funding / solidity | World's oldest bank still operating (1472) · Italy's third-largest branch network · listed (BMPS) |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5274) IT banking licence (Bank of Italy · ECB-SSM) |
Strengths
- Free unlimited online SEPA and instant transfers on all modules
- Nuova Montepaschi Debit Mastercard included at €0 and free ATM withdrawals at MPS Group machines
- Modular design: switch module for free at any time, and discounts (under 30, crediting ≥€700, additional products) stack up to a zero fee
- Bank supervised by the Bank of Italy and the ECB (significant bank) with FITD deposit guarantee up to €100,000
- No notable sovereignty advantage documented.
Weaknesses
- ATM withdrawals at other banks cost money: €2.10 in Italy and the euro area
- Without discounts the fee adds up: Easy €4/month (new customers only), Plus €10, Extra €12, plus €34.20/year stamp duty
- Expensive at-branch transfers (€6.70–7.20) and a non-interest-bearing, EUR-only account
- 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 · ECB-SSM)): 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
MPS Mio is solid on protection: a significant bank supervised by the Bank of Italy and the ECB, FITD €100,000 guarantee, free unlimited online transfers, Mastercard card at €0. The score stays average though, because the full cost is not trivial (€4–12/month plus stamp duty), zeroing the fee requires stacking discounts (under 30 + crediting ≥€700 on the Easy module) and withdrawals outside the MPS Group cost €2.10. Figures from the fact sheet updated 01.07.2026 — note: the Easy module is reserved for new customers.
Supervised bank account: custodial, full KYC, censorable and freezable by court order or AML obligation. The FITD deposit guarantee and dual Bank of Italy/ECB 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
How much does the MPS Mio account cost?
It depends on the module: Easy €4/month (reserved for those without another equally-held MPS account older than 6 months), Plus €10/month, Extra €12/month, plus €34.20/year stamp duty. Stackable monthly discounts can zero the fee: −€2 under 30, −€2 with salary/pension crediting or inflows ≥€700/month, −€2 Welcome discount (Plus/Extra only), −€2 or −€4 with 2 or 4 additional products (fact sheet updated 01.07.2026).
Are transfers and withdrawals free?
SEPA and instant transfers made online are free and unlimited on all modules; at the branch they cost €6.70–7.20. ATM withdrawals at MPS Group machines are €0, while other banks in Italy and the euro area charge €2.10.
Are deposits guaranteed?
Yes, Banca MPS is a member of the Interbank Deposit Protection Fund (FITD): deposits are guaranteed up to €100,000 per depositor.
Sources
- Official service page Data verified on Jul 12, 2026
- gruppo.mps.it Sconti · Carta · Bonifici Data verified on Jul 12, 2026