This is the amount of money you should never put in the bank all at once

The Tax Agency monitors cash movements as a measure to control money flows and prevent money laundering. Although it monitors cash withdrawals from banks or even the money “that you keep under the mattress”, it also monitors the cash deposits that citizens make to banking entities.

And it is that, although we are in the era of Bizum and 'contactless' payment, paper money still continues to occupy a predominant role in the economy of the vast majority of users. And the difficulty of tracking cash payments means that the Treasury establishes strict limits on the amounts that can be moved without the public body noticing.

A maximum of 3,000 euros

The maximum amount of money that we can deposit in cash in the bank without justifying and without drawing the attention of the Tax Agency is about 3,000 euros, according to La Información.. It is from that amount when the Treasury can request receipts and supporting documents to determine the origin of the money.

This limit is, in fact, the same as in the case of cash withdrawals, as reported by the Bank of Spain on its Banking Client portal. The entity also reports that “the fact that the Tax Administration may have information on all these movements does not mean that it will initiate an investigation”, but that it will only do so in the event of having “suspicions of any criminal operation”.