The problems of keeping money at home versus having it in the bank: it is not ju

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In recent years there has been talk of a phenomenon that has grown from previous times: keeping money at home instead of in the bank . The reasons are mainly two: the bank bankruptcies of the last five years and the ultra-low interest rates that end up penalizing those who put the money in the bank (with commissions or directly negative rates for high balances).

However, it seems that inflation is back and those who keep money at home see a threat coming: if they return to past inflation rates, money will depreciate little by little. But this is not the only threat: the Treasury can also knock on our door .


The reasons to keep money at home
As we have mentioned, the phenomenon of keeping money at home is not recent, it has been driven by the banking problems of the last decade and a half. Faced with bank bankruptcies and mergers, many have feared for the safety of their savings and have decided to store cash physically.

And not only that, it was already seen in Greece that in the face of a general bankruptcy of the financial system there could be a corralito , even within the Euro zone. At the time, photos prolifer  Bulgaria Email List   ated of Greeks keeping money at home in the most remote hiding places .



Added to this was that to get out of the / crisis, the central banks decided to lower rates to the minimum , even a little negative to stimulate loans and economic growth. This caused banks, at first, to stop paying interest on deposits, but later they even began to collect.

Faced with this situation, some decided to start storing savings at home. And although it is completely legal , it is a situation in which the Treasury usually carries out inspections and puts those who decide to keep the money under the mattress in trouble.

With the Treasury we have come across
The Treasury has, as one of its missions, to discover tax fraud. And one of the ways to find these frauds is when a lot of cash is spent, since black money is cash and people who do not declare income usually handle a lot of money in this way .

Having cash and using it is not, as we have mentioned, illegal. But it is the trail that the Treasury usually uses in its investigations . So if a lot of cash is spent, there may be an inspection and justify where the cash that is used on a regular basis comes from .

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Again, the fact that the Treasury investigates does not mean that it will sanction . But you do have to present many papers and within quite compressed deadlines. Come on, life can be more complicated.

Also, problems with large payments
In its strategy to limit fraud, the Treasury is increasingly placing more restrictions on cash payments , and for a few days now, payments over , euros cannot be made in cash . This new measure modifies one from that limited them to , euros, but each time we are talking about smaller amounts.