IsyBank — Conto (isyLight) isyLight
A plan byIsyBank — Conto (isyLight) · Mastercard/Visa (+ BANCOMAT)
IsyBank is the fully-app digital bank of the Intesa Sanpaolo Group. The base isyLight plan has a €0 fee, a free digital Mastercard/Visa debit card and zero-cost SEPA and instant transfers. Above it sit isySmart (€3.90/month, physical card included) and isyPrime (€9.90/month, free worldwide withdrawals and no FX fee). Italian IBAN and FITD €100,000 deposit guarantee.
isyLight
- Price
- Free
What's included
- Free digital Mastercard/Visa debit card
- SEPA and instant transfers €0
- Unlimited operations
- Physical card €12 one-off · SDD €0.80 · +stamp duty €34.20/year
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 di debito digitale Mastercard/Visa gratis (fisica €12 una tantum su isyLight) |
| Interest on balance | 0% |
| Network | Mastercard/Visa (+ BANCOMAT) |
| ATM withdrawal | Free |
| Free ATM limit | Intesa Sanpaolo Group ATMs €0; other SEPA-area bank €1.10 (free worldwide on isyPrime) |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Digital bank of the Intesa Sanpaolo Group · launched 2023 · Italian IBAN |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5692) IT banking licence (Bank of Italy) |
Strengths
- Base isyLight plan at €0 fee with a free digital Mastercard/Visa card
- Unlimited SEPA and instant transfers at €0
- Italian IBAN from the Intesa Sanpaolo Group with FITD €100,000 deposit guarantee
- isyPrime: free worldwide withdrawals, no FX fee, stamp duty paid by the bank for under-35s
- No notable sovereignty advantage documented.
Weaknesses
- On isyLight the physical card is paid (€12 one-off) and SDD direct debits cost €0.80
- Withdrawals at other SEPA-area banks €1.10 (free only on isyPrime)
- App-only and (on isyLight) single-holder account only; no own branches
- Reputation marked by the forced 2023 migration of Intesa customers
- 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
isyLight is a solid zero-fee account on the protection front: an Intesa Sanpaolo Group bank supervised by the Bank of Italy, FITD €100,000 deposit guarantee, free digital card and SEPA/instant transfers at €0. The blemishes are the small accessory costs of the base plan (physical card €12, SDD €0.80, other-bank withdrawals €1.10), the app-only experience and the reputation marked by the forced 2023 migration. Those wanting everything free worldwide must move up to isyPrime.
Supervised bank account: custodial, full KYC, censorable and freezable by court order or AML obligation. The FITD deposit guarantee and Bank of Italy supervision — strengths for protection — are exactly what distance it from the trustless model. No self-custody, no permissionless use.
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 the isyLight account really free?
The isyLight fee is €0; you only pay the state stamp duty (€34.20/year, not due with average balance ≤ €5,000). Digital card and SEPA/instant transfers are €0; the physical card costs €12 one-off.
Who is behind IsyBank?
IsyBank is an Italian bank (Bank Register no. 5692) of the Intesa Sanpaolo Group, supervised by the Bank of Italy; deposits are guaranteed by the FITD up to €100,000.
Sources
- Official service page Canone · Carta · Prelievi · Bonifici · +1 Data verified on Jul 12, 2026