The legal cash limits you can carry in Spain while travelling
Due to the pandemic, it is looking increasingly more likely that we are not that far away from a society where the days of physical cash are numbered, and on top of that, or maybe in order to smooth this transition long faster, the Spanish Tax Agency has recently put a cap on cash payments between individuals.
Even so, for the time being, there are still those of us who will want to carry cash on our person, especially if going on a trip maybe, or just for that feeling of knowing you have that available cash in your pocket in case of an emergency.
These obligations come under the guidelines, according to the entity, as being “within the measures for the prevention of money laundering, and the financing of terrorism”, and in the case carrying in excess of €100,000 when traveling through Spain, a “special declaration” will need to be made before the Tax Agency.
Similarly, if an amount of cash that is over this limit is being carried in order to make a deposit of funds in cash in a bank, form S1 will have to be completed in advance, which the entity will request, otherwise, the fine in the event that the corresponding declaration has not been carried out, entails the confiscation of the total of the transported funds, their deposit, and a sanctioning file, as well as a fine of up to €600, and double the amounts transported.
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