Withdrawals at ATMs blocked for a week: what’s going on? – D1SoftballNews.com

With the term ATM reference is usually made to any form of electronic instrument used for card payments and cash withdrawals through ATMs. Although this word refers more correctly to the circuit of the same name, often also the action of withdrawal is defined as “making an ATM”.

Policies Cashless

The increasing diffusion of electronic money is also the cause of policies developed to reduce the circulation of cash, which has always been considered excessively “volatile” and not very traceable even from a fiscal point of view; an adequate technological advance has speeded up this change which is still underway.

The role of ATMs has become increasingly important even if these tools are less and less widespread: this aspect, apparently paradoxical, is part of the policy perspective cashless followed by most of the European countries, which also provide for greater automation from the point of view of the management of their bank account which is less dependent on branches.

Withdrawals at ATMs blocked for a week: what’s going on?

Withdrawals are often the only possibility that leads the citizen to go to an ATM. Usually a block withdrawal, which makes the operation impossible, is a symptom of some sort of problem related to the branch itself, but it can also be a symptom of irregularities related to the current account, such as the “overdraft”, i.e. the negative account, but also for the constant presence of debts.

A block of withdrawals for a week or more often is caused by reaching the monthly limit of your bank, which in most cases is not higher than 10,000 euros, a limit which may also differ according to the type of account held, while for individuals the limit for payments and daily cash transactions has been lowered to 999.99 euros starting from January 1st.

The inability to withdraw can also be concretely caused by “suspicious” money movements for anti-money laundering regulations, such as payments that are too constant and high in a particular period of time.

Source link

Source: https://d1softballnews.com/withdrawals-at-atms-blocked-for-a-week-whats-going-on/