Current accounts: after Christmas the new thresholds will be a problem for many.
Italian current accounts are in the sights of the taxman. The state aims to raise cash because the continued disbursements of bonus money have made public finances even more disastrous. The current accounts of Italians inevitably end up in the crosshairs much more than before. But what is worrying are the consequences of the new thresholds that come into force on January 1, 2022. In fact, with the new year the change in the cash thresholds will inevitably change the way we use current accounts and ATMsotherwise the risk is high. Let’s make some fundamental clarifications.
Oncoming checks and fines
For a few more days the cash limit is € 2000. But from January 1 of the year that is about to enter, it will be enough to use € 1000 in cash for a payment or a gift to be stuck with severe penalties. Woe to forget this limit because penalties and controls are truly remarkable. But woe to not underestimate the impact of the new thresholds also on withdrawals and especially on ATM withdrawals. Let’s do some clarity. Withdrawals from ATMs to date meet a limit of € 1500. From 1 January 2022 this limit does not change and remain unchanged. However, if we withdraw money in the range between 1000 and € 1500 we are in an ambiguous situation. In this range, withdrawing is lawful but it is equally legitimate for the bank to ask for explanations and report. In fact, with the new limits in the use of cash, withdrawing € 1,500 cash is something lawful, but at the same time suspicious.
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Of course, if we withdraw them to make two different payments, both under one thousand euros, the problem does not arise.
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But in any case, the bank has the right to ask for explanations and if it is not convinced it also has the right to report.
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