EU restricts cash payments

The aim of the measure is to strengthen the fight against money laundering and terrorist financing. Although the EU has set the upper limit of ten thousand euros, member states can introduce stricter restrictions at their own discretion.

Currently, each member state decides whether to apply similar restrictions, but the new regulation will be binding in all countries in the summer of 2027. However, before the provision is introduced, member states still have considerable time to prepare the necessary amendments.

The regulation also contains certain exceptions. For example, if a private individual wants to sell their car to another private individual, they can still do so with cash payment. However, if someone is engaged in car trading as a business, professionally, they must use a different payment method.

An additional requirement is that for cash transactions between 3,000 and 10,000 euros, the seller will be required to request a document proving the buyer’s identity.

The new cash limit tightening aims to create a safer financial environment, while also leaving some flexibility for everyday transactions.