Western Union: Expands Digital Banking Service in Italy

Western Union Digital Banking App Now Available with Italian IBANs

in collaboration with Western Union - Western Union announces the expansion of its Digital Banking offering in Italy by enabling the opening of Italian IBANs for customers using the dedicated App . The new service - it is highlighted in a note - allows users of the Western Union Digital Banking application to make national payments through the Italian IBAN, simplifying everyday financial transactions. Italy - it is recalled - was one of the first European markets to launch Western Union's digital banking platform. The introduction of Italian IBANs represents a further step forward in improving relevance for customers in a country where the adoption of digital financial services is rapidly growing. In Italy in 2023 approximately 58% of users used internet banking, and it is expected that by 2028 they will exceed 67%. In the meantime, more than a third of adults using online financial services in Italy express interest in fully digital banks: ease of use and the availability of flexible tools are among the main reasons that drive the user to change.

“At Western Union, we are committed to building a truly borderless financial ecosystem that empowers our customers to realize their every aspiration,” said Kevin Mole , Vice President, Ecosystem, Europe, Western Union. “As more Italians embrace digital-first banking, we are evolving with them. Adding the ability to open Italian IBANs with our digital bank accounts allows customers to do more things like pay rent, pay bills or receive a salary, all while staying connected to Western Union’s global financial network.” “We know how much trust our customers have in us when it comes to moving money internationally,” said Gabriel Sorbo, Regional Vice President, Italy and Southern Europe, Western Union. “Thanks to our loyal customers, we are deepening our offering – not only helping them send and receive money globally, but now also to manage their finances locally on a daily basis with ease and security.”

Through the Western Union Digital Banking app, available on the Google Play Store and Apple App Store , customers can create a digital bank account with a local IBAN; deposit, store and manage money in multiple currencies in their Premium Account; send money globally for cash pickup or to bank accounts, mobile wallets and cards; send money instantly to other Digital Banking users; receive money from abroad through Western Union retail or digital channels; send zero-fee transfers to other Western Union Digital Banking app users; or access a free virtual debit card compatible with Apple Pay and Google Wallet, with the option to request a physical Visa Platinum card for free.