The ATM is a tool widely used by Italians but it is also an instrument on which many things are changing.
Real revolutions are on the way on the ATM front and the government.
But that’s not all: revolutions on the ATM front are in demand even from the banks themselves and for the citizens a sting is coming.
Sting on commissions
Let’s see what changes at the ATM. As we know, there are fewer and fewer ATMs small Italian municipalities finding them has become almost impossible.
The problem is that the costs of these ATMs are getting higher for the banks and so the banks themselves want cut these ATMs which progressively become a real loss-making element for the institutions themselves. The same banks then for retaliate against the majors costs, they want to eliminate ATMs but they also want to make them more expensive. In fact, soon there will almost certainly be a increase in fees for ATM withdrawals.
Increase in commissions and fines
The competent authorities are examining the matter but the Italian banks forcefully ask for it therefore very soon probably when withdrawing from the ATM of a bank other than your own, the commission can become very high. But the war against the ATM is also a war against cash and the government is waging it precisely to stem tax evasion. In fact, now many things are changing also on the payments front. First of all, it is necessary to keep in mind the threshold of payments with cash that currently is to € 2000 but will soon drop to € 1000. Indeed the precise date is that of the beginning of 2023. So beware of this real halving of the threshold with cash. But the news also concern in-store payments.
Who risks a fine of 30 euros
In fact, if until today i payments in the shop could be made either with cash, credit card or debit card, from June everything changes. In fact, from June, the merchant will no longer be able to refuse an ATM or credit card. In fact, according to the new legislation, the trader who should claiming payment in cash will incur a fine of € 30. Moreover, the € 30 will be increased in proportion the extent of the expense that the customer intended to make. Let’s not forget that ATMs are increasingly monitored by the tax authorities and consequently the Revenue Agency will be able to do so tomorrow ask for an account of ATM behaviors that are extraneous or anomalous in relation to our tax return.
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