The European Union is prohibiting cash payments that exceed ten
thousand euro (€10,000), or the equivalent in national
currency, with full application from 10th July 2027.
This follows the introduction of Regulation (EU) 2024/1624
(Regulation) "on the prevention of the use of the financial
system for the purposes of money laundering or terrorist
financing" which entered into force in July 2024, giving
businesses a three-year period to prepare. This Regulation aims to
harmonise rules across the EU, as some countries have no
cash-payment limits while others impose strict restrictions,
creating loopholes.
This Union-wide limit on cash transactions applies to payments
for goods and services where at least one party is acting in a
professional or business capacity, as provided for in Article 80 of
the Regulation. This limit is imposed on single transactions as
well as multiple cash payments over time which appear to be linked.
This will be regarded as a single cash
