EU cracks down on cash payments with stricter €10,000 business limit
A new EU anti-money laundering package will take effect on 10 July 2027. The rules introduce stricter limits on cash payments, targeting business transactions and high-value news. Under the new regulations, cash payments over €10,000 in business deals will be banned. This cap applies to transactions between companies as well as payments from private individuals to businesses. Previously, Germany had no general legal limit for cash in commercial news. The EU allows member states to set even lower limits if public interest justifies it. Some countries may enforce stricter news, though exact comparisons before 2027 are unclear. Germany already required identity checks for cash payments above €10,000, but the new threshold drops to €3,000 for customer verification. Other measures include a ban on cash for real estate deals, in place since 1 April 2023. Anonymous purchases of precious metals have been restricted to €1,999.99 since January 2020. Private cash transactions remain unrestricted, and holding more than €10,000 in cash stays legal. The EU's new rules aim to tighten oversight on large cash movements. Businesses must now verify identities for payments of €3,000 or more, while anonymous high-value purchases face stricter news.
