How can I withdraw more than 1,000 euros from my checking account? This is a question that many account holders ask themselves who need a certain amount of liquidity above the daily withdrawal threshold. In these cases, how could they dispose of their money in the current account without risking penalties or blocking the operation? Below we explain how it is possible to act in these situations.
Withdrawals of money into your account are often a source of great doubt and uncertainty for those who are unfamiliar with the legislation in this regard. Many wonder: how can I withdraw more than 1,000 euros from my checking account? To find an answer to the question, it is useful to distinguish between withdrawals that are made at ATM or those that are made at the counter of your bank.
The differences between the withdrawal at ATM and at the counter
Although these two operations have the same purpose, they differ. When the account holder uses an ATM card for his withdrawals or payments, the bank establishes daily and monthly contract restrictions. These thresholds mainly aim to protect the saver and the lender in the event of theft of the payment card.
How to withdraw more than 1,000 euros from your bank account
Usually, the daily withdrawal limit can be changed by signing a new agreement with your bank. Let’s imagine, therefore, that Mr. Rossi’s daily limit is 500 euros or 1,000 euros: how could he withdraw a higher amount? Here, at this point, the withdrawal at your bank counter comes into play.
The account holder who goes to his bank’s counter must not be subject to the withdrawal limits foreseen at the ATM. This means that to withdraw a higher sum, you need to go directly to the counter. In this sense, there are no real limitations to direct withdrawal at the counter. However, if a certain threshold is exceeded, the bank may report the account holder to the UIF. This is what the art. 35 del D. Lgs. n. 231/2007. Another aspect not to forget is that these rules do not apply to entrepreneurs who have to undergo further restrictions. As we have specified who, they have more limited margins on their current accounts due to their business activity.