The BeppoSAX Wide Field Cameras detected a transient in NGC6440 on 1998 Aug 22. ROSAT did not detect this source on 1998 Sep 8, indicating that the X-ray flux had decreased by a factor 400 at least, and/or that the X-ray spectrum had become appreciably softer. Analysis of archival ROSAT HRI data reveals two sources associated with NGC6440; one of these may be the transient in quiescence. We have also obtained B and R images of NGC6440 on 1998 Aug 26 and again on 1999 July 15, when the transient had returned to quiescence. Subtraction of these images reveals one object in the core which was brighter in B, but not in R, during the X-ray outburst. We estimate B=22.7 and (B-R)o<0 on 1998 Aug 26, which makes it a viable candidate counterpart.