Bank account, what happens if you exceed 5,000 euros? “to caution”

Having a bank account is now very popular, especially because of the wide choice offered by banking institutions (but not only, just think of the Italian Post Office’s Banco Posta). In fact, in addition to the traditional bank account, there are various ways to obtain a similar tool as post office ledgers, which do not have the same set of financial tools.

Since these tools are almost entirely managed from an electronic point of view, they are subject to scrutiny if transactions that are considered “suspicious” are carried out. What happens if you exceed 5,000 euros?

Bank account, what happens if you exceed 5,000 euros? “to caution”

This number represents a boundary associated with the average stock. what does that mean? It’s basically a balance on our account (but also valid for the counterparty related to prepaid cards and the aforementioned Postal books) based on what is known as the weighted average of the amounts deposited or withdrawn by the holder. It is the credit institutions themselves that transmit these moves to the Revenue Agency. The stock is averaged over the entire calendar year, so it is not “adjusted”, for example, in the last days of the year we moved our money elsewhere. What does it mean to have an average stock equal to or greater than €5,000? Stamp duty, a type of tax that is automatically “deducted” at the end of each calendar year, is calculated.

The amount of natural persons is €34.20 per annum, while for any other form of holder other than natural persons the amount is €100 (for example, for corporations). All types of account holders are subject to this type of tax, except for specific categories, such as those with an ISEE of less than €7,500.

To avoid paying this type of tax, it is advisable to “split” your savings over multiple prepaid accounts/cards/brochures to significantly reduce average inventory.