EU to cap cash payments at €10,000 under ‘anti-money-laundering’ rules

The European Union on Wednesday adopted new rules to curb anonymous cash transactions, setting a €10,000 ceiling (about PLN 43,000) for payments in physical currency from 2027, the European Parliament said.

Illustrative photo.

Pavel_D/Shutterstock

Under the package, businesses and individuals will be barred from making in-person cash payments above €10,000.

Transactions between €3,000 and €10,000 will trigger mandatory customer identity checks and reporting to national financial intelligence units.

The measures, aimed at combating money laundering and terrorist financing, will also extend to digital assets: cryptocurrency exchanges and related platforms must verify customer identities for trades exceeding €1,000 (around PLN 4,300).

Current EU thresholds for crypto services are higher, allowing potential misuse for illicit activities.

Poland already limits business cash payments to PLN 15,000 (about €3,500), but the new EU cap will apply to private individuals as well.

Sectors heavily reliant on cash—such as sports clubs—will receive a transitional period, with full compliance required by 2029.

(jh)

Source: Polskie Radio 24