Lots of news coming to the ATM and you have to be careful.
The counter ATM it is used very naturally and daily by Italian families. Virtually all Italian families are used to withdraw with a certain regularity the figures necessary for life.
But at the ATM they are coming many news and we must avoid being caught unprepared.
New thresholds and controls
The fact is that many things are about to change at the ATM also because the new regulations on both ATMs and cash.
In fact, there is currently a limit on the money that can be used for cash payments placed at 2.000 euro. In fact, anyone who makes cash payments of € 2,000 upwards risks a very heavy fine. But from next year the payout limit drops to just € 1,000. So from next year anyone who pays € 1000 and up will be sanctioned. But also pay attention to what concerns the taxman. In fact, if you withdraw too often from the ATM or if you still have an activity at the cash dispenser that appears not in line with their economic situation they risk investigations and very heavy penalties.
So you can attract the control of the tax authorities
In fact, the new one has started control system of the so-called super registry of current accounts. The Revenue Agency monitors with great attention through the super registry of current accounts the activity of Italians on the current account and also at the ATM. So the Italians who make withdrawals too frequent or too far apart or who in any case do not appear suited to their economic situation will be immediately beware by the artificial intelligence of the taxman. When withdrawing at the ATM there are limits set by the bank.
What to avoid at the ATM
It is not possible to go beyond these ceilings. But the risk for account holders is that while remaining within the limits of the ceilings set the bank can carry out a type of operation that appears suspicious to the tax authorities. For example from next year with the cash payment limit of € 1000, if you were to withdraw more than a thousand euros from the ATM one could be considered as a subject to be attentive. Obviously it is not said who withdraws 1200 euros does it for a single payment but this could still be something that triggers an alarm.
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