What is Banca d'Italia?

Banca d'Italia is Italy's central bank and the authority that supervises banks operating in the country. Each institution has a banking code that names it in payments and in official records, so a code quoted in account terms or legal notices can be checked.

For the providers in this comparison, bunq lists MI - 2628476 and Illimity lists 5710. Being listed under Banca d'Italia means a supervisor is in place for the institution. The code does not tell you about fees, account features or deposit protection, so compare those separately.