Cash Payment Limitations

E.U. Financial Services Commissioner Mairead McGuiness has announced measures against money laundering, including limits to cash payments above €10,000. In 2018, the European Commission ruled against such limitations.

A controversial law that would have banned cash payments over $10,000 has been voted out by the Australian Senate. Many saw it as infringing on the freedom to use cash and to protect one’s financial privacy.

A survey shows that the majority of Spaniards view access to cash as important in times of crisis. Meanwhile the government is proposing to lower the limit on cash payments and advocate its elimination altogether.