Agent in financial activity

Agent in financial activity is the subject that promotes and concludes contracts related to the granting of loans in any form or to the provision of payment services.

Agent in financial activity is the subject that promotes and concludes contracts related to the granting of loans in any form or to the provision of payment services, on the direct mandate of financial intermediaries, payment institutions, electronic money institutions, banks or Italian Post Offices. They can only carry out the activity indicated above, as well as activities related to or instrumental to the same (see Article 128- quater , paragraph 1 of the TUB).



The activities of insurance agency and financial promoter are compatible, and therefore exercisable by an agent in financial activity, without prejudice to the respective obligations of registration in the relative list, register or register (see Article 17, paragraph 4 -bis, of Legislative Decree No. 141/2010).

Agents in financial activities carry out their activities on the mandate of a single intermediary or of several intermediaries belonging to the same group. In the event that the intermediary offers only certain specific products or services, the Agent is nevertheless allowed, in order to offer the entire range of products or services, to assume two further mandates (see Article 128- quater , paragraph 4, of the TUB).

The principal is jointly liable for damages caused by the Agent in financial activity, even if such damages are consequent to responsibility ascertained in the penal seat.

The contracts that can be the subject of conclusion and promotion by the Agent are those related to the activity of granting loans in any form for which identification can be found in art. 3 of the Ministerial Decree dated 02/17/2009, n. 29.

The Circular letter n. 3/12 OAM indicates the “products” and “services” for which the Agents in financial activity can receive the mandate from the banking and financial intermediaries indicated by the first paragraph of art. 128- quater of the TUB.

To exercise the profession of Agent in financial activity towards the public it is necessary to obtain registration in a special List held by the OAM, subject to the possession of the requisites required by law.

The activities of insurance agency and financial promoter are compatible, and therefore exercisable by an agent in financial activity, without prejudice to the respective obligations of registration in the relative list, register or register (see Article 17, paragraph 4 -bis, of Legislative Decree No. 141/2010).

It does not constitute an agency in financial activity:


Money Dollar,Financial loan

  • the promotion and conclusion, by suppliers of goods and services, of loan agreements solely for the purchase of own goods and services on the basis of specific agreements stipulated with banks and financial intermediaries. These contracts do not include those relating to the issue of credit cards;
  • the promotion and conclusion by banks, financial intermediaries, investment firms, asset management companies, SICAVs, insurance companies, payment institutions and Italian Post Office of contracts relating to the granting of loans in any form and to the provision of payment services;
  • the stipulation by the trade associations and the Confidi of agreements with banks, financial intermediaries and other subjects operating in the financial sector aimed at favoring the access to credit of the associated companies. For the collection of requests for financing made on the basis of the aforementioned agreements, the associations may avail themselves of persons possessing the requisites envisaged by art. 128-novies, paragraph 1, of the TUB. As provided therein, it is extended to subsidiary service companies pursuant to art. 2359 of the civil code, constituted by the associations themselves for the pursuit of the association purposes;
  • the promotion and placement of contracts relating to the granting of loans or the provision of payment services by financial advisors registered in the register – pursuant to art. 31 of Legislative Decree no. 58/1998 – carried out on behalf of the same authorized party who appointed them as financial advisor. The authorized party is responsible for the professional updating of its financial advisors, ensures compliance by them with the rules established pursuant to Title VI of the TUB, and is liable for damages caused by them in the exercise of the redeemed activity, even if consequent to liability ascertained in criminal proceedings;
  • the promotion and placement of contracts relating to the granting of loans in any form by insurance agents duly registered in the single register of insurance and reinsurance intermediaries (“RUI”) – pursuant to art. 109, paragraph 2, lett. a), of Legislative Decree no. 209/2005 -, by direct mandate of banks and financial intermediaries provided for by Title V of the TUB. The mandating subject takes care of the professional updating of the mandated insurance agents, ensures compliance by them with the discipline envisaged pursuant to Title VI of the TUB, and is liable for damages caused by them in the exercise of the reduced activity, even if consequent to liability ascertained in criminal proceedings.

For the exercise of collection of funds on behalf of persons authorized to provide payment services, registration in the list of agents in financial activity is not necessary, provided that the redeemed activity is carried out on the basis of a contract outsourcing, which predetermines the methods of carrying it out, has a purely material nature and in no case is accompanied by device powers.


Sale of the fifth

One often hears about a particular type of loan, namely the sale of the fifth INPDAP.

We can introduce the theme by explaining, in a simple manner, what the fifth assignment is.

The assignment of the fifth is, more generally, a particular and non-finalized loan: in essence, with this financing, a portion of one’s income or pension is granted, which must not exceed one fifth of the net income (and hence its name) as monthly loan installment.

After that, contrary to what happens with other loans – for which the customer reimburses the installment to the bank or finance company every month, or every two months – it is directly the employer or the institution that pays the pension to pay the monthly installment to the bank, taking it at the source.

This is why the transfer of the fifth INPDAP is considered, even by the banks, as a loan that is safer than the others: it is not the client who has to worry about repayment but the employer or the institution of the pension.

Although today we continue to talk about the sale of the fifth INPDAP, the correct name is the sale of the fifth INPS ex INPDAP. In fact, the INPDAP was the body that until 2012 was responsible for providing pensions to public employees, but today it was completely absorbed in the INPS and ceased to exist, as part of the Monti maneuver to contain “public spending “.

The transfer of the fifth, we said, is a personal loan not finalized

Coins money


Therefore it is not necessary to explain why the transfer of the fifth INPDAP is requested as the sum of money is paid without requesting justifications from the customer.

The installment is withheld, as we have said, directly on retirement or income.

Types of transfer of the fifth

Loan Application


There is no single type of transfer of the fifth INPDAP, but different types of products that can best adapt to the needs of each.

  • The INPDAP Small Loan. It consists of a sale of the fifth INPDAP which is paid to employees and pensioners with registration in the Unit for Credit and Social Services.
    It is a loan of small amounts of money, which lasts from one to four years at most. It is possible to request, for the annual loan, at most a salary or pension monthly payment; for the biennial one, at most two and so on.
  • Direct Multi-year Loan INPDAP. It is a loan with transfer of the fifth INPDAP which however lasts up to ten years.
    It can be requested by public employees hired on a permanent basis with 4 years of seniority and by pensioners with 4 years of contributions.
    Temporary public employees can access it only if they put the TFR to guarantee the debt.
  • Guaranteed Multi-year Loan INPDAP. This is a loan that is granted not by INPS but by banks and financial companies that have an agreement with the institution. In this case it is possible to access the loan if you are a public and state employee with at least four years of seniority in contributions. The loan lasts 5 or 10 years. The installment amount does not exceed one fifth of the monthly salary.

Small loan: what it is and how it works

A special form of credit for employees of the public administration and pensioners of INPS is the Inpdap loan, including the small Inpdap loan that can be granted by the credit and social security institution or by banks affiliated with the institution, thus allowing to obtain with ease greater economic benefits.

Types of financing

Types of financing

There are different types of subsidized INPS loans reserved for both public administration employees and INPS pensioners, an offer that is presented according to three financial products: guaranteed and direct multi-year loans, in addition to the small Inpdap loan.

However, this type of financing makes it possible to obtain small sums of money that can also be useful for facing a sudden expense, a tool that allows however to take advantage of particular and advantageous economic conditions with respect to traditional financing.

This is why the number of requests for small Inpdap loans by public employees and INPS pensioners is increasing. We refer you to this in- depth analysis on the small loan inpdap in the blog of to get all the info on the figures obtainable, delivery times etc.

Amounts obtainable with the small loan

Amounts obtainable with the small loan

The amounts received through a small loan can be granted only within the limits of the annual budget availability of the INPS fund.

But how to apply for a small loan?

small loan

Every public employee can access the small Inpdap loan by submitting a request for participation, handing over the forms with each useful document at one of the branches of the INPS office or forwarding the forms directly to the body via computer.

If you are an Inps pensioner, you can apply to take the small Inpdap loan exclusively online.

The value of the amount paid to the public employee or pensioner INPS, however, may undergo a change based on an order provided by the institution. The small Inpdap loan may in fact correspond to one, two, three or four months of salary received and must then be repaid in 12, 24, 36 or 48 monthly installments, through which a principal and a portion of interest will be paid.

The method by which the remaining debt can be paid is the salary or pension salary, a method that allows all the loan installments to be paid in a practical manner and without any risk of default.

As I will be the same employer to pay the installment relative to the payment of the installment of the amortization plan, which may not necessarily exceed one fifth of the amount received, whether by salary or pension.

The small Inpdap loan makes it possible to obtain particularly advantageous interest rates, a fixed nominal interest rate of 4.25% will be applied to the amount paid, a rate for administrative expenses of 0.50% and a figure for the risk fund.

If you have additional deductions in progress on your salary or pension due to a fifth assignment, the amount requested through a small Inpdap loan may vary further. Amount that can be paid by the institution by direct credit to your bank account or by cash that you can withdraw from a bank cashier of the institution.

In the event that the applicant has already received a loan and amortization is still in progress for a direct or guaranteed multi-year loan, the amount requested may not necessarily exceed one month for the annual loan, two months for the two-year period, three for the three-year period and up to a maximum of four monthly payments for the four-year period.

Furthermore, if you have already requested a small Inpdap loan, you can apply for renewal, but only after a minimum period has elapsed which varies according to the type of loan requested, ie 6 months for annual loans, 12 months for biennials , 18 months for three-year loans and 24 months for four-year loans.

Is the fifth assignment for all pensions?

Many pensioners have this doubt

Many pensioners have this doubt


The assignment of the fifth is an ideal means to have an immediate sum of money and without giving certification on the use. Other types of credit include documentation, but with the sale of the fifth you have maximum freedom.

Personal expenses, medical expenses, holidays, gifts, a special date: everything you want. With the fifth assignment you can request money for any purpose . Fundamental condition: a stable source, an income that can be used to guarantee the monthly payment .

The loan is given by check or bank account, and can be requested by those who have a permanent employment contract and by a person who has a specific contract that expires before the end of the installment payment of the debt.

Obviously it can also be asked by those who have a pension

Pensioner Loan


Pensioners can easily access the salary assignment (unlike other forms of loans) because there is a pension that guarantees the monthly recovery of the credit: the installment is withdrawn even before the deposit.

But can all pensioners have access to the fifth assignment? Not really, there are details to be emphasized. In the first place, the salary assignment cannot affect the minimum pension necessary for the survival of the individual.

This sum is 460.97 euros : the pensioner can sell the fifth provided that there is enough money left to cover this quota . If this parameter does not exist, the social security institution limits the loan. Consequently, all pensions under 550 euros are excluded from the sale of the fifth.

Are there pensions that cannot be used for the sale of the fifth? Yes, and they are listed on the INPS website :

  • Pensions and social checks.
  • Civil disability.
  • Monthly allowances for assistance to pensioners for disability.
  • Income support checks.
  • Allocate to the family unit.
  • Pensions with joint ownership for the portion not pertaining to the person requesting the transfer.
  • Exodus benefits.

For the rest there is maximum freedom of maneuver: anyone can apply for a loan with the transfer of the fifth at any institution or bank.

Fast and convenient loans

Most of the times that you look for a loan, among the features that go to look for more there are the costs, the reliability, the possibility to lengthen the duration, the penalties and the guarantees required. Sometimes, however, or because you are in a financial emergency situation, or because you do not want to lose the possibility of a profitable offer, the feature that you look for most in a loan is the speed of delivery.

Often in this field, banks and financial institutions certainly do not excel due to the speed of the service, with waiting times of up to 15 days, for more difficult loan requests or for larger sums. If you need an urgent loan instead and you have all the necessary requirements for its provision, you can contact one of the agencies that make speed one of its strengths.

In this sense, in fact, it is the financial companies that have the most streamlined organization, offering rapid financing to their customers. We obviously talk about large financial companies like Compass, able to offer credit throughout the entire national territory.




One of the financial companies that has always focused on the speed of service is Compass, of the Mediobanca group, active in Italy for over 50 years with more than 2 million customers, and over 160 agencies scattered throughout the national territory.

If you need a fast loan, Compass offers the possibility to request Leggero, a personal loan adaptable to all types of needs. With Leggero it is possible to request up to € 25,000, for anyone resident in Italy aged 18 to 70, by presenting a valid ID, the tax identification number, or the last paycheck or tax return or payslip of the pension. While for foreign citizens residency in Italy has been required for at least one year and a residence permit.

Regarding the time of delivery of the Compass loan (here you can find more info: ), if you have all the appropriate documentation, you can receive it in 24 or at most 48 hours, by direct transfer to a current account or check.

Lightweight is a type of loan that presents the payment of a minimum initial installment, for the entire first year of the loan, while starting from the second year the normal installment will be paid, agreed at the beginning of the loan. Through the Compass consultancy service, it is possible to study the type of financing most suited to your needs, with the customization of the duration, the amount of the installment and the possibility of subscribing to one of the optional additional insurance coverage.

Especially when you want to think about your family and loved ones, you can take out a policy against job loss, serious illness or premature death, including the policy within the loan installments, starting from the second year. In this way you can rest easy, paying the policy a little at a time and only after the first year of mini-installments.

If you are looking for a cheap and, above all, fast loan, Compass is certainly one of the market leaders, with a fast and fast service, low costs and the possibility of taking advantage of a wide range of possible customizations.