More and more people, including our elders, are leaving aside the conventional method of paying in cash and using cards or even mobile phone payments.

This is an advantage when it comes to avoiding carrying a lot of cash with you, in addition to making payments faster and safer. However, there are those who are still using the traditional method to make certain payments.

Thus, it is necessary to know that the regulations establish limits both when paying in cash and when carrying certain amounts of money with you.

These are the current limits

The limit of money that can be carried in cash within Spain is set at 100,000 euros. In the event that you want to move this amount or a higher amount through national territory, it will be necessary to declare this procedure. On the other hand, if it is the “exit or entry into national territory” from abroad, the limit is set at 10,000 euros.

Cash payments also have a limit to deal with fraud and the new regulations have reduced this amount to 1,000 euros. Thus, Law 11/2021, of July 9, details that when purchasing a product or service with a value greater than this figure, another means of payment must be used, such as a credit card or bank transfer.

“From July 11, 2021, operations of an amount equal to or greater than 1,000 euros or its equivalent in foreign currency cannot be paid in cash, in the case of payments in which one of the parties acts as an entrepreneur or professional. This amount rises to 10,000 euros in the event that the payer is a natural person who justifies that he does not have his tax domicile in Spain and does not act as a businessman or professional, “they detail in the Bank of Spain in this regard.