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This is the maximum legal cash amount that can be shared between two people.

In our daily lives, cash is gradually losing its importance.

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This is the maximum legal cash amount that can be shared between two people.

In our daily lives, cash is gradually losing its importance. In fact, payments with bank cards are becoming less common due to the pandemic. Mobile applications like Bizum and Apple Pay allow for transfers that can be made through these mobile apps.

It is also important that the Tax Agency has strengthened its policies to minimize banknote operations and try to reduce tax fraud. This objective has led to a cash payment limit that can be exceeded by anyone.

In reality, those who violate the law can face a penalty equal to 25% of the amount of any operation, but this can be reduced up to half if they pay it voluntarily. It is important to note that the limit for cash payments between individuals can vary depending on the type and amount of transaction.

The new Law 11/2021 was implemented in July last year. It is now illegal to use cash to perform transactions exceeding 1,000 euros. In the event of an agreement between companies or professionals, this applies to any equivalent in foreign currency.

However, if the payment is a simple procedure between two people, the maximum cash amount can be increased to 10,000 euros.

Bank transfers are subject to the same rules. Any bank transfer exceeding 3,000 euros must be reported to the authorities. They can do this with lesser amounts if there is suspicion that it might be fraud.

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