# Cash



## Strontium (Sep 16, 2015)

I've been sent a e-note from my PT bank which I think says that there is now a limit of 3000 euro payment in cash and it's retrospective so covers anything already bought but awaiting invoice payment. Can anyone clarify this further?


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## RichardHenshall (Jul 26, 2009)

New '€3,000 cash limit' law passed by the President

The limit is higher for non-residents.


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## Strontium (Sep 16, 2015)

Thanks for that. A bit confusing though as (edited for clarity)

*General Tax Law and prohibits "paying or receiving cash in transactions of any amount over €3,000."

The draft law provides for some exceptions as foreigners are able to make payments of up to €10,000 in cash *


How can that work as the "foreigner" may pay 10,000 cash but the non-foreigner can only receive a max of 3,000 cash.


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## baldilocks (Mar 7, 2010)

Strontium said:


> Thanks for that. A bit confusing though as (edited for clarity)
> 
> *General Tax Law and prohibits "paying or receiving cash in transactions of any amount over €3,000."
> 
> ...


In Spain the limit is 2,000€ soon to go down to 1,000€ It is all about money laundering. Non-resident are allowed a bit more leeway because they may be purchasing property.


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## travelling-man (Jun 17, 2011)

And they really think that's going to work do they? Bwahahahahaha!

If nothing else, it'll result in multiple payments of the maximum limit........ Gotta love pointless bureaucracy! lol


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## Brexit.Refugee (Sep 10, 2017)

Strontium said:


> Thanks for that. A bit confusing though as (edited for clarity)
> 
> *General Tax Law and prohibits "paying or receiving cash in transactions of any amount over €3,000."
> 
> ...


..............................................................................................................
my experience was being asked to bring €12,000 in cash (as you do, everyday) to a promissory contract signing, attended by the vendor, his agent & MY lawyer of the time....... 
They were genuinely confused when I walked away.
Long overdue change.


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