An ad hoc web-based guide and info-graphic are the tools of the information campaign developed by the AIB to provide practical advice to customers and to remember the main rules for the use of checks, bearer passbooks and cash.

The communication campaign "How to use cash, checks, accounts and savings or deposit booklets" promoted by Abi is further developed to make customers aware of the correct and correct use of payment instruments and ensure timely and clear information through a series of practical and useful advice. The campaign now consists of two new tools, a Guide and an info-graphic for the web that, through practical advice and a language for everyone, highlight what are the small, but necessary measures, to avoid unpleasant consequences. The initiative aims to illustrate and recall the main rules laid down by anti-money laundering and counter-terrorism financing rules, to make known in detail what changes and how to adapt.

The 10 things to know and to watch out for not to be wrong:

1. the transfer between private individuals is prohibited, without the use of authorized parties (eg banks), cash and bearer securities (for example checks without indication of the beneficiary) for an amount equal to or greater than 3.000 euro;
2. bank, circular or postal checks for amounts equal to or greater than 1.000 euro must include - in addition to the date and place of issue, amount and signature - the beneficiary's indication and the "non-transferable" clause. So be careful if you use a check form that you have collected in the bank for a long time and check if the check has the word "non-transferable". If the wording is not present on the check, remember to apply it for amounts equal to or higher than 1.000 euro;
3. the banks, in the light of the provisions of the law, automatically deliver checks to customers with the pre-printed wording of non-transferability;
4. written request to your bank;
5. for each check issued or issued in a free form, ie without the word "non-transferable", the law requires payment by the applicant of a stamp duty of 1,50 euro that the bank pays to the State;
6. it is forbidden to open accounts or savings accounts anonymously or with a fictitious header and it is also forbidden to use them even if they are open in a foreign country; the deposit, bank and postal passbooks can only be issued in registered form, ie registered to one or more specific persons;
7. for those who still hold bearer passbooks, there is a time window for their redemption, expiring on 31 December 2018, their transfer is still prohibited;
8. in the case of violations of the cash and check thresholds (such as failure to indicate the "Non-transferable" clause) the penalty varies from 3.000 to 50.000 euro;
9. for the transfer of the booklets to the bearer the penalty may vary from 250 to 500 euro. The same sanction applies in the case of non-extinguishing of the existing bearer passbooks by the end of 31 2018 December;
10. for the use, in any form, of anonymous accounts or booklets or with a fictitious header, the penalty is in percentage and varies from 10 to 40% of the balance.

Checks: incoming ABI vademecum for customers