ATM: goodbye to withdrawals at bank branches. It will no longer be possible to withdraw 1 euro. Here is the official date!
Goodbye cash? The world of cash is by no means over: the estimates speak of a overtaking of electronic money compared to cash for the next ten years.
Given the estimates in favor of the use of electronic money, users will begin to do without withdrawals at the ATM.
The government has been promoting the use of electronic money for years, avoiding the use of cash. The goal of the Draghi Executive is to fight tax evasionto encourage the use of traceable payment instruments such as cards, debit cards and bank transfers and to lower the threshold of money that can be withdrawn / spent through cash.
Even the banks themselves, to rationalize costs, are reducing the presence of bank branches on the national network. An exemplary case is ING, which has decided to close all bank branches throughout the Italian territory.
Goodbye cash: welcome cashless company!
For years there has been talk of a definitive goodbye of cash and one increasingly cashless society. An acceleration in the use of electronic money occurred with the onset of the pandemic: banknotes and coins were considered vehicles for contagion of the virus.
Starting from January 1, 2022, i new limits on the use of cash: from 2000 euros it has gone to one thousand euros. therefore, to date it is not possible to pay a sum exceeding nine hundred and ninety-nine euros and ninety-nine cents.
Nothing has changed for bank withdrawals and deposits since these are money movements that involve only one natural or legal person.
Will there be a stop to withdrawals?
An official date relating to the stop to withdrawals at the ATM it has not yet been set as there will be a surge in the use of online purchases and payments via e-money in the coming years.
For small purchases, many consumers prefer to pay with cash rather than using a credit or debit card.
The government itself is increasingly discouraging the use of cash with the State Cashback. In addition, the Executive aims to introduce heavy penalties for traders and the self-employedthat do not equip themselves with POS and introduce incentives for the use of electronic money.
Another incentive for traders and for holders of a VAT number is that of cut commissions and the costs to be borne by those who accept payments by debit and credit cards. Given the acceleration in the use of electronic money and the policies implemented by the Executive in recent years, bank withdrawals will undergo a sharp downsizing.
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