Not everyone knows that leaving money with a bank on a checking account often involves very high costs and risks. You pay taxes to leave your savings in stock and at the same time you risk suffering even significant losses. Before proceeding with a light heart, it is advisable to know what risks you run to keep the money in the current account in addition to the hidden tax. Many savers would thus avoid finding themselves faced with bad surprises without being able to remedy them by now.
In a previous article we answered those who asked “Qumoney should be kept in the current account so as not to undergo checks by the Revenue Agency? “. The account holder who leaves large sums of money on deposit could in fact alert the attention of the Tax Authority and could undergo checks. So this is one of the answers to readers who ask what risks are run by keeping the money in the current account in addition to the hidden tax. The fiscal controls are triggered above all with frequent payments of cash which one would not be able to justify the legitimate origin. It is always advisable to leave in the account only the money that comes from income from work, from any donations or winnings from the game. In other words, it is always necessary to be able to prove that the savings in one’s possession and present in the account are not the result of tax evasion or money laundering.
What are the risks of keeping the money in the checking account in addition to the hidden tax?
Another risk to which the account holder is exposed is the eventual bankruptcy of the credit institution that would destroy the savings of decades. If the bank were to find itself in the midst of a financial crisis, the account holder could count on the protection of no more than 100,000 euros. This is in fact the maximum amount of which the Interbank Deposit Protection Fund guarantees return to the customer in the event of compulsory administrative liquidation. The result is therefore a lesson in prudence which recommends savers not to exceed the balance of 100,000 euros and to find valid alternatives in the event of redundancy. The other risk that actually constitutes a certainty rather than a danger corresponds to the hidden tax.
Most consumers do not notice what happens to the sums of money they set aside and set aside consistently. If he were more aware of it, he would carefully avoid the so-called hidden tax which coincides with the loss of significant amounts of money over the years. Those who leave money in the account are often unaware of the damage that savings will suffer as a result of inflation and rising consumer prices. Ten years after the date of deposit of the liquidity, he will find himself with lower amounts of money and with a different purchasing power. Here, then, is the hidden tax that many account holders ignore or neglect the importance of.