Paying in cash: limits in Europe
You live in France but plan on buying a car in Germany? Make sure to educate yourself about the laws limiting cash payments: throughout the European Union, cash payments will soon be capped at 10 000 euros. This article offers information about each European country’s policy for limits on cash payments. Did you know that some European Member states require that you declare to customs if you are entering the country with more than 10 000 euros cash or equivalent?
Europan Consumer Centres advise consumers to carefully check the methods of payment accepted by traders and to ensure that transactions are as secure as possible. Some traders might ask for a deposit and accept a deposit in cash, others might ask for a debit or credit card payment and others still might accept cheques, money transfers or postal orders. Consumer credit might also be used widely.
In some countries debit cards may be an option, but as they often have limits on the amount that can be spent, consumers must check with their banks prior to purchase and, if necessary, increase the amount for a short period.
Remember: A trader in the EU is not obligated to accept more than 50 metal coins for the same payment.
Cash payment limitations in each EU country
No limit.
For goods and services, the limit for cash payments is 3,000 euros. This restriction does not apply to payments between private persons.
According to Belgian law, special regulations include the following:
- The purchase price for the acquisition of real estate may not be paid in cash.
- If a contractor buys copper cables, he cannot pay in cash, even if the seller is a consumer.
- When buying scrap metal or items containing precious materials, cash transactions are prohibited, even if the transactions are between contractors.
- If a consumer sells valuable material to a contractor, the cash payment must be less than 500 euros. The buyer of the product must also verify the identity of the seller.
These restrictions do not apply to a contract that is under the supervision of a bailiff.
Violations of the above restrictions are punishable by fines ranging from 250 euros to 225,000 euros.
The cash payment limit is 10 000 lev (about 5.110 euros). This also applies if this limit is only reached through several related payments.
Violations can be punished with a fine of up to 25 percent of the sum concerned (for entrepreneurs up to 50 percent).
For payments in another currency, the national bank of Bulgaria fixes the limit of 10 000 lev at the exchange rate on the day of the payment.
Limit of 15 000 euros for cash payments.
No limit.
Cash payments are possible up to and including 270,000 Czech crowns (approx. 10,509 euros) per day.
Violations of this rule are punishable by a fine of up to 500,000 kroner for consumers and up to 5,000,000 kroner for companies.
No limit on cash payments between private individuals.
As soon as an entrepreneur is involved, however, there is in fact a maximum limit.
Because in Danish law there are, among other things, the following special regulations:
- Traders are not allowed to accept cash payments of 20,000 Danish kroner (approx. 2689 euros) or more. This does not apply to banks and other financial service providers.
- Traders are obliged to accept cash up to 20,000 kroner between 6 a.m. and 10 p.m. (in areas with a high crime rate until 8 p.m.). The obligation applies when traders accept certain types of payment, especially card payment.
- The use of 500-euro notes as well as 25-Øre coins is prohibited.
- When paying an amount in coins, a maximum of 25 coins per transaction may be used. The maximum amount that may be paid exclusively in coins is DK 962.50 (approx. 129 euros).
- For services, cash payments are not recommended for an amount of more than 8 000 DK (around 1 075 euros). If the business does not pay their income tax and the value added tax, the consumer can be held responsible.
No limit on cash payments.
Cash can be rejected from 50 coins or banknotes, regardless of the value.
The Estonian central bank as well as credit institutions, however, must accept cash and banknotes without any restriction.
The trader is also not legally obliged to always accept cash payments. Such procedures must be clearly communicated, for example in the form of signs at the entrance of a shop, e.g. refusing to accept more than 50 coins or a large banknote.
The limits for cash payments are as follows:
- The cash limit is 1,000 euros for taxpayers resident in France.
- For non-resident taxpayers acting as consumers, the limit increases to an amount of 15,000 euros.
- For every payment above 1,000 euros, you must present an ID to the seller.
- These limits don’t apply if the consumer has no other means of payment or doesn’t have a bank account.
- Payments in connection with property purchases that are notarised may be paid in cash up to a maximum of 3,000 euros.
- Cash payments between private individuals, for example when buying a car, are not limited. The issuing of an invoice is mandatory for amounts over 1,500 euros in order to be able to prove payment.
- Taxes can be paid in cash up to a maximum of 300 euros.
Traders are obliged to accept cash, otherwise a fine of max. 150 euros may be imposed.
Traders may refuse to accept damaged banknotes. The same applies if there are safety concerns (for example, if a payment is made at night). If there is any doubt about the authenticity of the banknote, the merchant may ask you for your identity and the origin of the banknote.
Traders are allowed to refuse payments with more than 50 coins, as well as banknotes that significantly exceed the amount to be paid.
More information in our article: Means of payment in France
No limit on cash payments for the purchase of goods.
If you would like to pay a sum of more than 10 000 euros, then you must present a piece of identification. And the trader has to document your surname, first name, place of birth, date of birth, your home address and your nationality.
The limit is 500 euros except for the purchase of a car. Other costly purchases should be paid with a bank transfer, bankcard or a check.
Consumers can pay in cash without restriction.
There is a limit of 1.5 HUF million/month (around 4 200 euros) for legal entities, business associations and individuals subject to the value added tax system.
No limit.
According to the law, there is no limit for cash payments.
In practice, however, it may well happen that traders only accept cash up to a certain amount.
To fight against money laundering and fraud, since 2022 cash payments must be 1 000 euros or less. For any amount above that, you must use a bankcard, a check, or a wire transfer.
In the event of fraud, the penalty will be a minimum of 1 000 euros.
The maximum cash payment is 7 200 euros.
An infringement will result in a fine, which amounts to 15% of the sum concerned.
There is a cash payment limit of 5000 euros.
No limit.
You cannot pay in cash for certain items and goods worth 10 000 euros or more. This includes antiques, real estate, jewellery, precious metals, pearls, precious stones, cars, boats and works of art.
Violations will be punished with a fine of at least 40 percent of the amount in question.
For private individuals, there is currently no limit for cash payments.
There is however an obligation to report irregular payments over 2,000 euros. This applies to professions in the banking sector, freelancers, insurance companies, casinos and others.
No limits on cash payments for the purchase of goods.
However, as soon as an entrepreneur is involved, there is in fact a maximum limit.
The Norwegian law sets the following restrictions:
- When paying for items with a value of up to and including 40,000 Norwegian kroner (approx. 3841 euros), the seller may not accept a cash payment. This also applies if the amount is paid in several installments.
- When purchasing services or goods related to services, cash payments are not recommended if the amount exceeds 10,000 Norwegian kroner (approx. € 958). The reason: if the service provider does not pay income tax, VAT and social security contributions, the consumer can be held responsible.
- When paying an amount in cash, no more than 25 coins per unit must be accepted.
For payments between businesses the limit is 15 000 Polish Zloty (around 3 267 euros).
There are no restrictions between private individuals.
You cannot use a cash payment for an amount over 3 000 euros.
A person liable to income or corporate tax in Portugal cannot make a cash payment of 1 000 euros or more. For consumers residing outside of Portugal the limit for cash payments is 10 000 euros. You may only pay cash for taxes of 500 euros or less.
You can make cash payments to traders of up to 5 000 Romanian lei (around 1 016 euros) per day.
For the delivery of goods and services, the limit is 10 000 lei (2 033 euros) per day.
Transactions between private individuals, such as the purchase of goods, services, or rent, can be paid up to 50 000 lei (around 10 165 euros) per day in cash.
Cash payments of up to 5000 euros are possible for transactions between traders and for a purchase between a consumer and a trader.
For private individuals, the maximum limit is 15,000 euros.
Traders are only allowed to accept cash payments up to and including 5,000 euros.
Payments to traders or from traders may no longer be made in cash from an amount of 1,000 euros or more.
For a consumer who does not have financial residence in Spain the limit is 10 000 euros.
In case of violation of this law, the penalty is 25% of the sum.
There is no limit for paying with cash.
With certain companies, you may have to show your ID card and explain the origin of the money. This applies to banks, exchange offices, life insurance companies, securities traders, law firms, casinos, real estate agents, accountants and tax consultants.
A trader can refuse to accept cash. The shopkeeper must inform the consumer within a reasonable time limit (displayed in the shop for example).
Healthcare services must always accept cash payments.
The consumers can make cash payments without any limits.
The traders, however, need to register themselves with tax authorities as ‘High Value Dealers’ if accepting cash payments in excess of 10,000 euros. Exclusions apply.
Good to know: In England and Wales, you pay with English pound notes. However, in Scotland and Northern Ireland, the English pound notes may not be accepted. Likewise, the Scottish and Northern Irish pound notes may not be accepted in shops in England and Wales.
With regard to the change, there are unlimited payments of £ 5, £ 2 and £ 1. Coins with a face value of 50p, 25p and 20p can pay amounts up to £ 10, with 10p and 5p up to £ 5 and with 2p and 1p up to 20p.
We thank the European Consumer Centers for the provided information. Utmost care has been dedicated to their composition. However, the ECC France does not guarantee the accuracy of the information.
An EU-wide single limit for cash payments?
Every European country makes its own decision to either impose a cash limit or not. On April 24th 2024, because of money laundering, the European Parliament approved, followed by the Council in May 2024, a uniform policy of cash payments for all EU countries. The new cash limit is fixed at 10 000 euros and will provide uniformity across all EU nations.
European Union countries are still allowed to impose their own limits to cash payments as long as they are below 10 000 euros, which is how it is in France. Other states such as Austria or Luxembourg must introduce a limit that previously did not exist.
For cash transactions between 3 000 and 10 000 euros, the seller must ask the consumer for identification.
The new rules will come into force in summer 2027. Once the Official Journal publishes the new law, there will be a period of transposition for EU Member states.
Mandatory customs declaration of any amount over 10 000 euros
You may not travel between EU countries with more than 10 000 euros (or other currency equal to this) in cash, checks, or valuables without declaring it to custom officials.
To fight against money laundering and financial terrorism, the EU limits the import and export of 10 000 euros and over. All travellers that would like to enter an EU country with 10 000 euros or more must complete a cash declaration form with custom officials. Cash payments include bank notes and coins, as well as currency that is no longer in circulation but can still be exchanged for money, along with gold.
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Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Innovation Council and Small and Medium-sized Enterprises Executive Agency (EISMEA). Neither the European Union nor the granting authority can be held responsible for them.
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