World news – 2017-09-14

Portuguese lowers limit on cash payments

It is forbidden to pay or receive any payment in cash equal or higher than EUR 3.000 (…)

(…) Cash payments exceeding the above-referred legal limits are punishable with a fine ranging from EUR 180 up to EUR 4.500

Read moreWorld news – 2017-09-14

European citizens don’t want restrictions on using cash

gotówka cash

Initiative of the European Commission

At the beginning of 2017, the European Commission started work on an initiative to introduce restrictions on the use of cash at European Union level. As you can see in this article(in Polish), currently restrictions on cash payments are already implemented in some EU countries, such as the 1000 Euro limit in France, while other countries such as Germany still have not implemented such restrictions. The diversity of these national restrictions and topics such as the deterrence of terrorist financing and money laundering are reported as a cause for need of action at Union level.

Read moreEuropean citizens don’t want restrictions on using cash