Down to the Wire: Just $8,038 left to match to win our Challenge Grant. Your gift will still be doubled!
Click here to advertise on CatholicCulture.org

Vatican officials to meet with Italian bankers on card-transaction freeze

Catholic World News - January 17, 2013

Vatican officials will meet next week with Italian bank-security experts, with a goal of ending a freeze on bank-card transactions inside Vatican City.

The Vatican, which has worked for months to meet European banking standards for preventing money-laundering, was caught off guard by a January 1 announcement that Italy’s central bank would no longer process bank-card transactions from the Vatican. The Vatican hopes to persuade Italian officials that new internal controls have satified the immediate concerns of security officials, and Deutsche Bank—which had handled bank-card transactions inside the Vatican—should be allowed to resume processing those transactions.

The freeze on credit-card and ATM transactions has complicated life for tourists at the Vatican and cut into sales at the Vatican Museums, post office, and other shops. The resort to cash-only business is costing the Vatican an estimated $40,000 a day.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Our Fall Campaign
Progress toward our year-end goal ($59,597 to go):
$150,000.00 $90,403.12
40% 60%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Fall 2014 Campaign
Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Getting Marriage Right 8 hours ago
O Earthly Lord, vouchsafe to us high speed Internet. 11 hours ago
No 'Francis effect' in Strasbourg 15 hours ago
What Pope Francis told European Parliament, and what Pope John Paul II said 17 hours ago
Public perception demands a way of mercy November 24

Top Catholic News

Most Important Stories of the Last 30 Days
Pope Francis: Europe seems 'elderly and haggard' CWN - 19 hours ago