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!

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.

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

Recent Catholic Commentary

Vibrant Catholicism, 1: Lamenting the entire 20th century 5 hours ago
Holding bishops accountable: the next steps May 27
The real story behind the French ambassador's nomination to the Holy See May 27
A joyful noise unto the Lord: Goal met! May 26
De Lubac’s notes on the Second Vatican Council, section 3 May 26

Top Catholic News

Most Important Stories of the Last 30 Days