According to the info I have, the information you were provided is incorrect.
Here's what
World War II Remembered (Schwan and Boling - 1995) says:
Quote:
A group of little-known and seldom encountered notes called vaglia stampigliate was issued by local banks in Italy at the time that Allied armies were invading. The vaglia stampigliate are usually called circulating checks, which adequately describes their use and appearance. In many ways they look like common bank checks. The fundamental differences are that the values are printed on the checks and that they are not made payable to anyone, but are bearer checks that were negotiable by anyone upon presentation. The vaglia stampigliate which the Banca d'Italia was authorized to issue as an emergency currency, were made legal tender by the king's decree on 21 September 1943.
It goes on to say that
La Banca Commerciale Italiana was one of three "national interest banks" that covered the entire country through a string of branches. Under them in the banking hierarchy were five "public law banks" and below that were 350 small commercial banks and 100 small co-ops, "peoples", and rural banks spread around the country. A large number of these banks issued checks like this.
It is a very interesting check. Thanks for sharing it!