Cash Transaction Limits

cash-transactions-limit

Did you know? Some countries have cash transaction limit these days, especially in Europe. So what is cash transaction limit? It means that there is a maximum amount of cash you can pay at the local stores.

Tax refund guide per country

For example; you want to purchase a Chanel bag in Italy and the retail price is €5000 euro. Italy has a cash transaction limit of €2999,99 euro, you cannot pay the full price in cash. You need to pay with other options like credit card.

The cash transaction limit is a regulation or law set by the country’s government. The objective is to limit money laundry and terrorist financing activities.

From cash to digital

Use cash a payment is very popular, especially in Asia but also Germany. Cash provides privacy because no one can know where you’ve spent the money. However, cash can be risky. Imagine carrying 4000 euro on the street. Pickpockets might know that you’re tourist, it’s just less safe.

Nowadays using digital for payments has become the new normal. It also provides the government more control.

Europe cash transaction limit

CountryCitizenTourist
France€1000€10000*
Spain€2500€15000
NetherlandsNo limitsNo limits
GermanyNo limitsNo limits
Belgium€3000€3000
Greece€1500€1500
United KingdomNo limitsNo limits
Italy€2999,99€2999,99
AustriaNo limitsNo limits
DenmarkNo limitsNo limits
HungaryNo limitsNo limits
IrelandNo limitsNo limits
LuxembourgNo limitsNo limits
Portugal€1000€1000
SwedenNo limitsNo limits

*In France, when the payment is more than €1000 in cash, then proof of identity is required.

Citizen vs Foreigners

Sometimes the rules are different for citizens and tourists (or people with permanent resident outside the country). Usually the law is less strict for tourists. For example, in France the cash transaction limit for citizen is €1000 euro while tourist can spend up to €10000 euro’s.

Special rules for tourists

Tourist can spend more in cash, but there are sometimes special regulations in place. Let’s get back to the France as an example. A tourist can spend up to 10.000 euro, but when the cash transfer is more than 1000 euro, they are required to show proof of identity.

List of other countries with cash transaction limits

CountryCitizenTourist
United States*
SingaporeNo LimitsNo Limits
SingaporeNo LimitsNo Limits
JapanNo LimitsNo Limits
Czech Republic350000 CZK per day350000 CZK per day
Switzerland100000 CHF**100000 CHF

*In the US, cash transactions excess of $10000 USD must be reported on CTR (currency transaction report),the indentity of the person as well as the source of the cash.

**In Switzerland, retailers are required to confirm ID and need to report cash transactions over 100000 CHF ($104000 USD) when they deem to be suspicious.

If you have more information about cash limit transaction or we’re missing something, let us know in the comment section so we can get this article up to date.


Disclaimer: we’ve done our best to provide the latest information. Please use it as a guide

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