Bunq launches an Italian branch to provide IBANs for digital nomads, expanding its European footprint
Executive summary: Bunq opened a subsidiary in Italy and began offering Italian IBANs to its customers, focusing on digital nomads. The launch gives Bunq a local regulatory foothold in Italy, allowing it to serve cross‑border workers more efficiently and compete with other neobanks in the eurozone.
Who is involved: Bunq (founded in Amsterdam), Italian regulatory authorities, and digital‑nomad customers.
Likely next: Bunq may expand its Italian product suite (e.g., local payment cards, business accounts) and seek further EU banking passporting rights.
On June 23 2026, the Amsterdam‑based neobank Bunq announced the opening of a subsidiary in Italy, enabling it to issue Italian IBANs to customers, particularly targeting digital nomads. The move follows Bunq’s strategy to deepen its presence in key eurozone markets and offer localized banking services. By securing an Italian presence, Bunq can better comply with local regulatory requirements and cater to cross‑border workers who need a domestic‑style account. The initiative reflects growing competition among fintechs to capture the mobile‑first, internationally mobile workforce.
Timeline
- — Bunq apre una sede italiana, arrivan gli Iban per i “nomadi digitali” (la Repubblica — Economia)
Analysis — what this means
Likely next events
- Bunq may apply for a full Italian banking license
- Roll‑out of Italian‑specific features like SEPA instant payments
- Monitoring of uptake among digital nomads
Sectors affected
- Fintech
- Digital banking
- Payments
Regulatory implications
- Must comply with Bank of Italy oversight
- Adherence to AML/KYC rules for cross‑border customers
Historical parallels
- Revolut’s 2020 launch of Italian IBANs
- N26’s 2019 entry into the Italian market
- Monzo’s 2021 pilot for Italian customers
Key entities
Sources
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