The law is there, the sanctions are not. In theory, from 30 June 2014 Italian traders and professionals are obliged to accept electronic payments via Pos (debit, credit, debit and prepaid cards) for amounts over 30 euros. Too bad there is no punishment for transgressors, which is why the rule is largely ignored. This gap was to be filled by a bill presented at the beginning of the year in the Senate, but last May the measure – which had been examined by the Finance commission of Palazzo Madama – was withdrawn due to the lack of financial coverage (the text also of the incentives), as well as for the protests of the various professional categories affected by the new obligation.
TRANSFERS ABOVE THOUSAND EUROS
However, the Pos is not the only anti-cash rule to remember. For more than three years now it has been forbidden to transfer cash in any currency and for any reason for amounts equal to or greater than one thousand euros (threshold that the Monti government lowered from the previous 2.500 euros). The same prohibition also applies to transfers of bearer securities and those of bearer bank or postal deposit books. The transfer is prohibited even when it is carried out in several tranches which constitute an "artificial split".
PENSIONS
At post office counters, cash is prohibited for the payment of pensions for amounts exceeding one thousand euros (excluding any arrears), which must be paid by crediting a current account or prepaid card.
RENTALS
As for rental houses, cash payments of "rental fees for residential properties" must always be documented by receipt, and are in any case prohibited from one thousand euros upwards.
CHECKS
As for bank or postal checks (always starting from one thousand euros) they must bear the non-transferability clause, i.e. they must necessarily be cashed by the person to whom they are made out. It is possible to ask your bank to receive transferable checks, but you must do so in writing and by paying a stamp duty of 1,5 euros.
PAYMENTS FROM NON-EU CUSTOMERS
Merchants who receive payments from natural persons residing in countries outside the European Union or the European Economic Area (which also includes Iceland, Liechtenstein and Norway) can only accept cash if the amount is less than 15 euros. Furthermore, before paying the amount collected, they must send the Revenue Agency a prior communication with the number of the current account into which the payment will be made.
