Beware of ATM withdrawals. In fact, there are limits to be respected in order to avoid possible inconveniences. Here’s what it is.
I money they are not a guarantee of happiness but they undoubtedly help to solve a lot of problematic situations. Starting from the weekly shopping, up to the bills, in fact, we often find ourselves having to put our hand to the wallet to buy goods and services to our liking. It is no coincidence, therefore, that precisely the means of payment often end up at the center of discussions of various kinds. If all this were not enough, over the years there has been a continuous change of these tools.
Situation that has also led to a gradual reduction in the use of cash. In fact, governments are increasingly trying to implement measures aimed at encouraging the use of electronic payment instruments, to the detriment of Cash. Precisely in this context, we invite you to pay the utmost attention to withdrawals with ATMs, as there are some ceilings to be respected. So let’s go into the details and see what there is to know about it.
ATMs, beware of withdrawals: what are the limits to be respected
Withdrawals from ATM they have now become an important fiscal control tool. The various movements, in fact, can end up attracting the attention of the Tax Authority, both if you withdraw too little, or if you withdraw too much compared to your earnings. It is therefore not surprising that such operations are considered valid allies against tax evasion.
Starting from this premise, therefore, central governments have started, for several decades now, a gradual but constant reduction in the amount of cash in circulation. In this sense, playing a very important role are the ceilings for the ATM withdrawal and cards, which continue to undergo continuous reductions.
At the moment the limit of transactions between two account holders is equal to 1.999,99 euro. Starting from January 1, 2022, however, this limit will be reduced to 999.99 euros. To these limits we must then add the daily and monthly ceilings. The latter are different from one institution to another, with the tax authorities generally moving to check in the event of transactions exceeding 10 thousand euros per month.
Dwelling on the daily figures of some institutions, for example, we remind you that for Che Banca Maestro it is equal to 1500 euro, while for Orange Current Account holders it is equal to 4999 euro. A clear demonstration of how the thresholds may be quite different from one institution to another. Precisely for this reason it is advisable to ask for information about your bank of reference, in order to avoid unpleasant inconveniences.