The bank account is nowadays the main contextual saving tool associated with ordinary citizens: compared to the past, managing the account is actually much easier and more natural, thanks to the application of new technologies that allow it to be used independently through smartphones, for example. Thanks to digitization, there are different types of bank accounts with “zero cost” in terms of pricing. But how much money can you keep in the bank?
Bank Account: How Much Money Can I Keep in the Bank? “to caution”
If there are various restrictions regarding the use of funds, for example in the context of withdrawals, then there is no real limit from this point of view: there is no real limit in terms of payments or the amount of money you can keep in a bank. Being a remote and advanced tool, countries have no problem with “having visibility” of how much money we keep in our checking account.
However, it may be useful to reconsider the matter from another point of view, i.e. is it really appropriate to keep several sums of money in our account? The answer tends to be no for various reasons.
- The gradual loss of purchasing power over time due to inflation – in general, keeping your savings constant is one way to develop a stagnation that, among the negative aspects, tends to reduce purchasing power. If we have large savings, it may be convenient to transfer them to a deposit account, or make use of the post office books or certificates bearing interest.
- Bank instability – even if the Italian state acts as a guarantor in case of instability for all amounts up to 100 thousand euros.
- Foreclosures – The more fixed amounts in our bank account, the higher the foreclosures.
- Various costs – There are costs related to keeping one’s savings in the account, one above all stamp duty of €34.20 per year for individuals and €100 for businesses, against an average balance of €5,000 minimum.