What is the amount that cannot be exceeded in your checking account? How to manage your money in difficult times like this? The answers to these questions are both simple and difficult. We have carefully analyzed all the pros and cons.
Don’t you ever have more than 5,000 euros in your current account?
Starting from the obvious assumption that you should never incur losses due to the activation of high interest payments, the experts explain that it is better not to exceed the figure of 5,000 euros on your current account. Why are the numbers so small? The reason is simple: having too much money in the current account has brought interest income now practically close to zero. On the other hand, stocks can become more profitable if other types of banking products are chosen (ex: deposit accounts). In addition, the so-called stamp duty of 34.20 euros per year must be added.
Therefore, it is recommended to keep an amount not exceeding € 5,000 in the current account and to invest excess funds in cheaper banking products. This solution obviously works only for those who know that they do not have regular outgoings exceeding this amount, or who risk falling into losses and having to pay bank commissions and interest expense.
In any case, never exceed the figure of 100,000 euros
Another factor to consider is the coverage of the Interbank Deposit Protection Fund, known as the FITD. It is a protection tool for those with large current account stocks. In fact, the insurance only activates up to 100,000 euros, so if the bank goes into difficulty the account holder need not worry, even if the bank fails, beyond this amount there is no coverage.
If withdrawals are particularly high, when are investigations and investigations risky?
But let’s get to the issue of cash withdrawals. The withdrawal threshold that must not be exceeded is 10,000 euros in one month (even fractional). The reason is simple: bank officials are obliged to ask the account holder for the reason for the withdrawal. If an employee suspects something, the bank must transmit the information to the Financial Intelligence Unit (UIF), which, after having carried out an adequate assessment, may decide to notify the Prosecutor’s Office for the opening of any cases. But how to answer the question about the reason for the exit? If we answer that they are used to pay workers, we will receive an administrative penalty (since the limit for cash payments is 2,000 euros), and at the most we can say that we have to pay more workers and different companies, such as restructuring costs.
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