Webank S.P.A. is a direct bank offering retail banking products and services via direct channels like Internet. Being a direct bank, Webank doesn't have to maintain a costly branch network and hence can offer its products and services at competitive prices. Webank operates as a subsidiary of Banca Popolare di Milano.
Becoming a client of Webank S.p.a. can be done in a few steps:
Due to regulatory requirements Webank S.p.a. performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Webank S.p.a. will ask him/her to provide the following documents: passport; proof of address. For corporate clients Webank S.p.a. will ask to provide corporate documentation as well as information about controlling persons. Webank S.p.a. may request additional documentation or information depending on the case. Account opening procedure is usually completed within a few minutes.
Webank S.p.a. participates in the deposit guarantee scheme of Italy. This deposit guarantee scheme applies to current accounts, cash accounts, time deposits made by natural persons, legal entities and covers up to up to 100,000 EUR per bank per depositor. Webank S.p.a. is a member of Interbank Deposit Protection Fund (FITD) and makes its contributions into it.
Webank S.p.a. is headquartered in MILANO.