HYPE HYPE Next
A plan byHYPE · Mastercard
HYPE is Italy's most widespread neobank (~1.9 million customers) and since 31 March 2026, with the merger by incorporation of HYPE S.p.A., it is effectively the digital account of Banca Sella S.p.A.: a payment account with an Italian IBAN, a Mastercard card and FITD deposit guarantee up to €100,000. The base plan has a €0 fee with free ordinary and instant SEPA transfers; Next (€2.90/month) and Premium (€9.90/month) add a free physical card, unlimited withdrawals and insurance.
HYPE Next
- Price
- €3
What's included
- Free physical Mastercard
- Free ATM withdrawals, also abroad
- Foreign-currency payments: 1.50% fee
- Insurance: purchase protection, withdrawal theft, medical assistance in Italy
Data & conditions
| Account fee | Free |
|---|---|
| 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 | Carta virtuale Mastercard gratuita; fisica €9,90 una tantum sul piano base, gratuita su Next e Premium (World Elite su Premium) |
| Interest on balance | 0% |
| Network | Mastercard |
| ATM withdrawal | Free |
| Free ATM limit | Base plan: free withdrawals up to €250/month, then €2.15 per operation; free also abroad with Next and Premium |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Italy's most widespread neobank (~1.9M customers) · merged into Banca Sella S.p.A. (Sella Group) on 31/3/2026 |
| MiCA / License status | Licenza bancaria italiana (Banca Sella S.p.A.) IT banking licence (Bank of Italy) — account held with Banca Sella S.p.A. |
Strengths
- €0 fee on the base plan with free ordinary and instant SEPA transfers and an Italian IBAN
- Since 31/3/2026 the account is held with Banca Sella S.p.A.: FITD deposit guarantee up to €100,000
- Fully digital onboarding, free virtual Mastercard from age 12
- Free ATM withdrawals up to €250/month on the base plan, everywhere with Next and Premium
- No notable sovereignty advantage documented.
Weaknesses
- Base plan with real limits: physical card at a one-off €9.90, free withdrawals only up to €250/month, €0.90 fee on card top-ups
- Foreign-currency payment fees on the base plan and on Next (1.50%); waived only on Premium at €9.90/month
- Non-interest-bearing account; the merger into Banca Sella changed the IBAN for pre-2026 customers (automatic redirect for 12 months)
- 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) — account held with Banca Sella S.p.A.): 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
The 3.8 rating reflects a genuine €0 fee with free transfers (including instant) and, since the 31/3/2026 merger, the solidity of a direct relationship with Banca Sella S.p.A. with the FITD €100,000 guarantee — a protection upgrade over the old HYPE S.p.A. It does not reach tier A because the free plan has concrete limits (€9.90 physical card, free withdrawals only up to €250/month, fees on card top-ups and foreign-currency payments): full functionality requires the paid Next or Premium plans.
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
Is HYPE a bank? Are deposits guaranteed?
Since 31 March 2026 HYPE S.p.A. has been merged by incorporation into Banca Sella S.p.A.: the account is therefore held with an Italian bank supervised by the Bank of Italy and funds are covered by the Interbank Deposit Protection Fund (FITD) up to €100,000 per depositor.
How much does HYPE really cost?
The base plan has a €0 fee with free ordinary and instant transfers, but the physical card costs a one-off €9.90, withdrawals are free only up to €250/month and card top-ups cost €0.90. Next costs €2.90/month (free physical card and withdrawals), Premium €9.90/month (World Elite Mastercard, no foreign-currency fees, insurance).
What changed with the merger into Banca Sella?
Pricing and the app stayed the same, but existing customers' IBANs changed: for 12 months after the merger, transfers and direct debits to the old IBAN are automatically redirected to the new one.
Sources
- Official service page Prelievi · FITD Data verified on Jul 12, 2026
- support.hype.it Data verified on Jul 12, 2026