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Bank transfer is not always the preferable solution: when it is better to avoid it

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Bank transfer is not always the preferable solution: when it is better to avoid it
Written by aquitodovale

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Bank transfer is one of the preferred means of payment for Italians but it is not always advisable to use it. Let’s find out when it is preferable to use different tools.

Bank or postal transfer, a practical, fast payment tool that is always just a click away. Excellent solution but beware of cases where it is better not to use it.

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The government pushes citizens to use electronic means of payment as they are easily traceable. Over the years, the fight against tax evasion and money laundering has grown in scale more and more impressive involving every taxpayer. The Inland Revenue monitors current accounts, tax returns, cash at home and every single money transaction. The goal is to identify dishonest citizens but even small and honest taxpayers easily end up in the cauldron of controls. In this context, it is preferable to use traceable payment instruments in such a way as not to arouse the attention of the tax authorities. Basically make a transfer it’s easy, fast, practical and you can proceed comfortably from home at any time. Yet even behind a bank transfer there are dangers.

Bank transfer, when it is better not to use it

The use of traceable electronic means of payment is strongly recommended by the Government. Just think that in some cases only an electronic tool will allow you to access services or reimbursements such as, for example, the 19% deduction for medical expenses in the 730 model. Credit cards, debit cards, ATMs, checks and wire transfers are the means preferred by citizens. The bank transfer, then, has the aforementioned advantage of being able to be carried out anywhere and at any time. A danger, however, is lurking and refers mainly to the instant bank transfer.

Security will never be questioned by banks. The transaction is reliable, the money passes from one account to another without any danger and the PIN, Password and double authentication they serve precisely to ensure a safe passage for the taxpayer. The tool can be used not only for money transactions within Italy but also for sending money abroad thanks to the introduction of the IBAN and the SEPA transfer. In a maximum of three days, the money will pass from one account to another despite being in opposite ends of the world. And then there is the instant transfer with a minimum waiting time for transactions of amounts less than 15 thousand euros.

Where the danger lurks

A few minutes and the money will pass from the sender to the recipient, this is the characteristic of the instant transfer. A danger is, however, lurking and does not refer to credit institutions but to the intrinsic mechanism of the instrument itself. By choosing to issue an instant bank transfer yes you will lose all right to a refund in case you run into a problem. Unlike the SEPA transfer, in fact, the sender cannot prevent the transfer and recovery of the money once it has been issued. Speed, the instrument’s strong point, therefore also becomes the greatest cause of danger. In conclusion, it is not advisable to use the instant transfer for unsafe transactions as they are carried out with unknown subjects the reliability of which is not known. The statement, of course, refers mostly to online purchases on little known sites.

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