Pay attention to your ATM deposits, because from today you risk big with finance: never exceed this amount.
Who owns a ATM, usually, he thinks he can manage his money as he sees fit, making all the trips he deems appropriate to do. Unfortunately, however, things are not really like that and there is someone to take into account, namely the Financial Police.
In fact, there is a limit which is dictated precisely by law and which concerns theuse of cash. Below, we’ll tell you about all the limitations you should be aware of so you don’t get into trouble. By going past them, you could arouse suspicion and draw the attention of those in charge.
Don’t make a similar mistake and pay attention to the figure that pay into your account. Let’s try to understand how things have changed over the years and what the current situation is.
Cash transfer: what is the threshold not to be exceeded?
To date, in 2024the limit of cash transfer between private individuals remained unchanged a 5,000 euros. For those who do not respect this threshold, in fact, there are sanctions that are anything but light. By amounts up to 250,000 eurosfines range from 1,000 to 50,000 euros, while for amounts exceeding 250,000 euroswe move on to fines ranging from 5,000 to 250,000 euros.
To transfer larger amounts, you must use traceable means. The real problem, however, arises when you have to do a deposit into your account. Are there any limits established by law here too? Let’s find out together.
What the law states
As established by thearticle 49 of the Legislative Decree 231/2007it is not expected no deposit limit in situations where the money remains in your account. In fact, it is not a question of transfer to third parties, but of money that remains in the possession of the same person. The aforementioned article never mentions the case in which the same person transfers sums exceeding the limit to his account, but rather refers to the transfer of money between different people.
However, even if the law does not establish any limitations, for withdrawals or deposits of amounts exceeding 10,000 eurosthe bank is required to send a communication to theFinancial Information Unit for Italy. From here, the Revenue Agency could proceed with an inspection, for a tax assessment, trying to understand the origin of the sums withdrawn/paid. Every amount that comes under the watchful eye of the Revenue Agency must already be taxed or be the result of donations or compensation.
