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View Full Version : Cash transactions - are you aware it's illegal for a transaction to exceed 2500€?



sdmc1960
20-11-2012, 13:43
People accustomed to paying for goods and services in cash are warned that, as of today, it is illegal to hand over more than 2500 euros in cash for any single business transaction or to tradesmen and other professionals for services rendered.
The new rules are designed to curb the so-called black economy, which the Treasury reckons costs the country billions of euros every year, and to ensure that all substantial payments are accounted for and the corresponding tax paid on the earnings. Failure to comply with the new system will render both parties liable to a fine of 25% of the cash sum.

TF1
20-11-2012, 14:29
Haven´t seen 2,500€ in cash for some time now.:cheeky:

I wonder how the corrupt politicians will take their bung money now ... in state bonds?

BobMac
20-11-2012, 16:31
People accustomed to paying for goods and services in cash are warned that, as of today, it is illegal to hand over more than 2500 euros in cash for any single business transaction or to tradesmen and other professionals for services rendered.
The new rules are designed to curb the so-called black economy, which the Treasury reckons costs the country billions of euros every year, and to ensure that all substantial payments are accounted for and the corresponding tax paid on the earnings. Failure to comply with the new system will render both parties liable to a fine of 25% of the cash sum.

If you don't have a cheque book, how the hell are you supposed to pay then ???

Balcony
20-11-2012, 16:40
€2500? That's an expensive meal! Shouldn't have had the chips witht hat.

princessmonika
20-11-2012, 17:38
get one from your bank

Westminster
20-11-2012, 18:50
I simply obtain the bank details for anyone I wish to pay then carry out a transfer with online banking.
The money usually transfers within 2 days, sometimes faster.
I find that Lloyds Bank International in Fanabe are excellent at helping with any sort of payment.

warbey
20-11-2012, 21:13
So that's the Flight Tickets paid for.! :D:D??????

funhunter
28-11-2012, 19:35
The ultimate aim of the "elite" is for everyone to have a chip implanted and money done away with and that time will soon be here. In Italy they are going to ban any cash transaction over 50 euros in 2013. George Orwell's 1984 is becoming a frightening reality 30 years on from the date he predicted...

languagefan
28-11-2012, 20:32
lol! very true ;)
Haven´t seen 2,500€ in cash for some time now.:cheeky:

I wonder how the corrupt politicians will take their bung money now ... in state bonds?

jago26
27-04-2013, 16:34
lol! very true ;)

How do you do a transaction legally for say a house if you don't want your cash to go through a Spanish bank (because you know at some point it will go bad - stay on topic please). I guess the best that can be done is to send it from a bank abroad to the owner who has a bank in Spain - is there a way to prove that they have received the funds.

I know it's a bit paranoid but really I am doing everything I can to avoid banks if I possibly can. It's my choice.

I wondered if a cash transfer is permitted if it is recorded by a lawyer so the papertrail is there.


The rule is a bit presumptuous really - assumes banks are available and assumes that €2500 is not a shrinking amount.

kathml
27-04-2013, 17:30
The ultimate aim of the "elite" is for everyone to have a chip implanted and money done away with and that time will soon be here. In Italy they are going to ban any cash transaction over 50 euros in 2013. George Orwell's 1984 is becoming a frightening reality 30 years on from the date he predicted...

Aye I can see the Italians obeying that they have still not recognised income tax

casabonny
27-04-2013, 17:38
It doesn't matter who you are paying the 2500 euro rule applies and cannot be done under any circumstances between Spanish who are employed or foreigners who have an NIE,and of course any business to business transaction.
A lawyer is unable to do anything. For a house purchase would have to be a transfer or certified bank cheque.
In our business ( cars )more and more people have over the last few years been paying by card or transfer.
now if for example you go and buy furniture or white goods and the total exceeds 2500, not that difficult these days, you cannot hand over cash. The fines are applied to both parties so beware.

Greg
27-04-2013, 20:39
Does anyone in here truly believe that everyone plays by these rules? Big brother may be watching but he isn't all seeing. Calm down everyone and haggle for the best deal you can get. Cash will always be king!