European Union to limit cash payments to 10,000 euros by 2027

The European Union has established a new regulation to limit cash transactions for goods and services. Starting July 10, 2027, a maximum limit of 10,000 euros will apply to cash payments involving businesses or professionals. Transactions exceeding this amount must be conducted through traceable methods, such as bank transfers or cards.

The measure, part of Regulation (EU) 2024/1624, aims to strengthen the fight against money laundering and the financing of terrorism. According to the European Council, between 117 billion and 210 billion euros circulate annually through suspicious transactions, affecting approximately 70% of active criminal networks.

While 10,000 euros serves as the common European maximum, individual member states retain the authority to set or maintain stricter, lower limits. Additionally, companies subject to anti-money laundering rules must identify customers in cash operations of 3,000 euros or more. The regulation specifically targets professional activities and does not apply to private individuals making simple bank deposits or payments to service providers.