Banca Mediolanum — SelfyConto Under 30
A plan byBanca Mediolanum — SelfyConto · Mastercard
SelfyConto is Banca Mediolanum's fully-online current account, from a listed banking group supervised by the ECB. The account fee is €45/year (€3.75/month) plus €34.20 stamp duty, but it is free in the first year for everyone and waived for under-30s. Mastercard debit card, free ATM withdrawals in Italy (own and other banks), €0 online SEPA and instant transfers and FITD €100,000 deposit guarantee.
Under 30
- Price
- Free
What's included
- Fee waived until the quarter of turning 30
- Reserved to single-holder accounts
- Same operating conditions as the base account
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 | Mediolanum Card Debit Mastercard: digitale €0, fisica €10/anno (gratis il 1º anno) |
| Interest on balance | 0% |
| Network | Mastercard |
| ATM withdrawal | Free |
| Free ATM limit | ATM withdrawals in Italy (own and other banks) and in the euro area at €0; digital card does not enable withdrawals |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia · BCE (MVU) |
| Segment | B2C |
| Funding / solidity | Online bank of the Mediolanum Group · listed group (FTSE MIB) · direct ECB supervision |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5343) IT banking licence (Bank of Italy · ECB-SSM) |
Strengths
- Fee free in the first year for everyone and waived for under-30s until age 30
- Free ATM withdrawals in Italy (own and other banks); free digital Mastercard debit card
- Online SEPA and instant transfers at €0 and SDD direct debits at €0
- Bank supervised by the Bank of Italy and the ECB, listed group with FITD €100,000 deposit guarantee
- No notable sovereignty advantage documented.
Weaknesses
- From year 2 the fee is €45/year (€79.20 with stamp duty) if not under 30 and with no automatic waiver
- Fully remote account: no branch banking and the digital card does not enable ATM withdrawals
- FX/extra-SEPA transfers at €7 and 0% credit rate (non-interest-bearing, EUR only)
- 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
SelfyConto is solid on the protection front: a bank supervised by the Bank of Italy (and the ECB, as a significant bank), a listed and well-capitalised group, FITD €100,000 deposit guarantee, online SEPA/instant transfers, Italian ATM withdrawals and SDD direct debits all at €0, and a Mastercard debit card. The limit is cost from year 2 for those not under 30: €45/year fee plus stamp duty, and no branch banking. Non-interest-bearing, single-currency account.
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
How much is the SelfyConto fee?
The fee is €45/year (€3.75/month, charged quarterly) plus €34.20 stamp duty. It is free in the first year for everyone (the first 4 quarterly charges are waived) and waived for under-30s until the quarter they turn 30.
Are deposits guaranteed?
Yes, by the Interbank Deposit Protection Fund (FITD) up to €100,000 per depositor; the bank is also a member of the National Guarantee Fund.
Sources
- Official service page Canone · Carta · Prelievi · Bonifici Data verified on Jul 12, 2026