Italy to allow larger cash payments despite central bank objections

Official warns move could encourage illicit activity

Bank of Italy
The Bank of Italy
Photo: Aleksandrasana/Wikimedia Commons

The Italian government’s draft budget for 2023 will increase the ceiling for cash payments to €5,000 ($5,280), despite criticism from a Bank of Italy official.

Under current law, Italians may use cash for payments of up to €2,000, but this ceiling had been set to fall to €1,000 from January 1. The new budget will instead raise that limit.

The amendment would also allow merchants to refuse to accept digital payments for transactions up to €60. Currently, merchants must accept electronic

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