Using cash in Italy

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Oct 1, 2013 | 9:10 am

ckendall

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Using cash in Italy

The limits on cash use in Italy under the new laws have come up so I thought this note from my Italian hotel was interesting:

All cash transactions in the Italian territory may be provided within a maximum threshold equal to €999.99. Regarding foreign tourists (who are not Italian citizens or are not citizens of one of the EU countries and of the European Economic Area) the limit may be increased up to €14,999.99.

So nonEU/EEA citizens can pay hotels in cash up to (almost) 15K!

Oct 1, 2013 | 9:22 am

dh01

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Quote:

Originally Posted by ckendall

This rule was in response to high end luxury shops complaining they were losing sales to nonEU clients (mostly Chinese/Japanese/Middle Eastern) who wanted to pay in cash. Therefore it was extended to hotels as well.

Oct 2, 2013 | 8:03 am

slawecki

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i am not that high a roller, bu if someone runs up a €14,999.99+ hotel bill, how does one pay? i think that is about 19500$us, and most of my credit cards top out at 20K. ast them to take a check?, a personal iou?

Oct 2, 2013 | 8:11 am

Need

Join Date: Jan 2003

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Quote:

Originally Posted by slawecki

Or just split the bill into multiple credit cards... How does the cash limit work anyway? Is it like €14,999.99 in a day? In a week? Or just in a bill? Could they just split the bill into 2? What if an Italian wants to buy 2 iPhones and it would probably be over €1000. If he wants to pay in cash, would the store allow it or would they have him buy one first.. and another on a different "transaction"?

Oct 3, 2013 | 7:39 am

lhrsfo

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As I understand Italian financial culture, there will be strict enforcement of this rule in Northern Italy, but a million work arounds so that it has no impact. In Southern Italy it will be ignored completely. Generalisations over for the day.