Enjoy your cash LP12, though I suspect that size limit won’t bother you
Starting July 10, 2027, the European Union will implement a maximum €10,000 cash payment limit for transactions with businesses, aimed at combating money laundering. While this new, harmonized rule applies across the bloc, individual member states may enforce stricter, lower limits. Private transactions remain largely unaffected.
Sumsub
Sumsub
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Key Details on EU Cash Rules:
New Payment Cap: From 2027, cash payments exceeding €10,000 to businesses (e.g., for goods, services, cars, or home improvements) will be restricted.
Declaration Requirement: When entering or leaving the EU, any person carrying €10,000 or more in cash (or equivalent in other currencies, traveler's cheques, etc.) must declare it to customs.
Stricter National Rules: Some countries already have lower limits (e.g., Greece, Italy, and others have their own restrictions), and they may maintain or adopt lower thresholds than the EU-wide €10,000 limit.
Detection: Customs authorities are authorized to inspect individuals, luggage, and vehicles, and may detain cash if it is not declared or suspected of being linked to criminal activity.
Exceptions: The new regulations generally apply to transactions with professional traders, not private, peer-to-peer exchanges.
Taxation and Customs Union
Taxation and Customs Union
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For travel, failing to declare €10,000 or more can lead to penalties and seizure of the funds
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Enjoy your cash LP12, though I suspect that size limit won’t bother you ...[more]