An expected decline after years of increases
In 2023, current account management expenses in Italy declined significantly, reaching 100.7 euros, with a decrease of about 3.3 euros compared to the previous year. This marks the first decline after seven consecutive years of increases, a figure that offers a glimmer of hope for Italian account holders. According to a survey conducted by the Bank of Italy, the decline is mainly attributable to fixed expenses, which have seen a reduction, and to variable expenses, linked to lower operations on the part of users
.
Analysis of fixed and variable expenses
Fixed expenses, such as monthly fees, have decreased thanks to greater competitiveness among banks and the emergence of online current accounts, which offer more advantageous conditions. However, the fees on payments and cash withdrawals remained almost unchanged, suggesting that not all expenses were affected by the overall reduction. On the other hand, the cost of managing online accounts fell by 4.8 euros, to 28.9 euros, mainly for a smaller proportion of customers subject to the payment of the
basic fee.
A worrying increase for postal accounts
Contrary to the general trend, expenditure on managing postal accounts showed an increase, from 59.6 to 67.3 euros. This increase is largely attributable to an increase in variable expenses, due to greater user uptime. The weighted average expenditure for the three types of current account now stands at 87.8 euros, a figure that raises questions about the sustainability of
costs for Italian account holders.
A comparison with the past
Despite the decline recorded in 2023, current account management costs remain high compared to the past. According to Assoutenti, in 2013 the average expenditure was 81.9 euros, which means that today account holders spend 18.8 euros more than ten years ago, an increase of 23%. This data highlights how, despite the digitalization and the adoption of online banking services, costs have not decreased in proportion to the savings obtained
by banks.
The reactions of consumer associations
Consumer associations have expressed concern about this situation. Massimiliano Dona, president of the National Consumer Union, defined the decline in expenses as “unsatisfactory and inadequate”, stressing that it is not enough to compensate for the increases in previous years. The reduction of 3.3 euros is seen as a step in the right direction, but not sufficient to justify banks’ profits and the disproportionate increases of past years. Dona also highlighted that the record jump in 2022, which had brought spending to 104 euros, made the situation even more critical for account holders
.