Bank account, here’s what happens if you exceed this limit

The various forms of crisis, especially the economic ones, have gradually reduced the confidence of savers in institutions and all related bodies, such as banks. However, also thanks to the electronic development, the bank account is always one of the most used and “convenient” ways to store, manage and use our money, which is becoming less and less tied to a traditional context and more related to the electronic one. This has led to the development of new financial concepts but also numerous limitations.

Banking regulations

Even within a system supranational come the European Union, the latter entity leaves a certain autonomy from the financial point of view to the individual states, allowing them to be relatively free in promulgating laws on banks, and on any limits. To date, the bank account has changed conceptually little in its basic functioning, while the use of related services has definitely changed. To date, in fact, thanks to smartphones and computers, it is much easier to use a bank account.

Bank account, here’s what happens if you exceed this limit

If there are rather precise limits regarding daily and monthly withdrawals (the former are managed and decided by individual banks, for the second case, although there is no effective threshold, there is a “virtual” equal to 10 thousand euros that can be withdrawn per month for avoid running into checks related to the use of cash), the situation is different in relation to the limits linked to the account. For example, there is a limit linked to the average stock which, if it exceeds 5,000 euros on an annual basis, leads to the payment of a stamp duty of 34.20 euros for individuals and 100 euros for cash.

All the banks operating in our country are also protected by a sort of “guarantee”, developed by the Interbank Deposit Protection Fund, which acts as a guarantor in the event of bank failures up to amounts equal to 100 thousand euro.

–