Can I Buy Bitcoin with Intesa Sanpaolo?

‍Yes, Intesa Sanpaolo users can purchase Bitcoin and other digital assets through crypto exchanges in Italy registered with the Organismo Agenti e Mediatori (OAM). While the bank does not provide direct crypto investment services, customers can fund their accounts with Euros on licensed exchanges that comply with EU anti-money laundering (AML) regulations.

How to Buy Crypto with Intesa Sanpaolo

Intesa Sanpaolo customers can buy crypto through exchanges like Kraken, which is regulated by the OAM under Registration No. PSV35. Kraken accepts euro deposits from Banca Intesa through SEPA, bank transfers, Apple Pay, Google Pay, and credit or debit card payments. It gives users access to over 290 digital assets for trading and staking.

Here’s a quick guide to buying crypto with your Intesa Sanpaolo account:

1. Create an Account: Visit Kraken’s official website and sign up for an account. Complete the KYC verification by uploading your ID and following the required steps.
2. Deposit Euros: Once registered, navigate to the “Funding” section. Select your preferred deposit method, such as SEPA transfer, to transfer euros from your Intesa Sanpaolo account without additional fees.
3. Choose an Asset: After the funds are available, explore the extensive list of digital assets and decide which cryptocurrency you’d like to buy.
4. Buy Cryptocurrency: Enter the amount of crypto you wish to purchase, review the transaction details, and confirm to execute your trade.

What are the Fees?

When buying cryptocurrency through an exchange, it’s important to understand the associated fees, such as depositing and withdrawing funds or trading costs.

For Intesa Sanpaolo users, Kraken offers zero fees on euro deposits made through SEPA transfers. The trading fees are competitive, starting at just 0.16% for spot trades, significantly lower than some platforms like Coinbase, which often charge more than 2%.

It’s worth noting that withdrawal fees can vary depending on the cryptocurrency, as network transaction costs fluctuate. Checking these fees ahead of time helps you budget more effectively.

Intesa Sanpaolo Cryptocurrency Policy

Intesa Sanpaolo allows clients to engage with exchanges regulated by the Organismo Agenti e Mediatori (OAM). These platforms must comply with EU financial regulations and stringent anti-money laundering (AML) requirements. While the bank facilitates transfers, clients should review any specific policies the bank may have regarding crypto transactions.

The bank has invested in blockchain initiatives as part of European Central Bank (ECB) trials, most recently participating in the issuance of Italy’s first digital bond on the blockchain in partnership with Cassa Depositi e Prestiti (CDP). This strategic move further highlights the bank’s interest in cryptocurrency.

About Intesa Sanpaolo

Intesa Sanpaolo, one of Italy's leading banking groups, serves a global client base with a portfolio spanning retail, corporate, and wealth management services. Established in 2007 through the merger of Banca Intesa and Sanpaolo IMI. 

Headquartered in Turin and Milan, Intesa Sanpaolo has a significant presence in both Italy and across Europe. It provides products such as the XME Conto account, Mutuo Domus mortgages, and the Investo investment line.

Bottom Line

Intesa Sanpaolo clients can invest in crypto by using Kraken. This platform provides access to over 290 digital assets for spot and futures trading with leverage options up to 5x. Kraken supports euro deposits and offers staking features, allowing users to earn rewards on 30 digital assets.

For a secure experience, Intesa Sanpaolo customers are encouraged to use trusted exchanges, remain aware of transaction fees, and consult the bank’s guidelines on crypto-related transfers.