Is Romania the black sheep of cash? What are the limits to paying with cash in the rest of Europe

2023-11-22 06:05:44

Romania is not an exception in Europe when it comes to limiting cash payments. Only a few countries have no restrictions in this respect, and more than half have quite low limits, relative to the standard of living, for cash transactions. However, cash payments are not prohibited anywhere. Such a problem has never been raised in Romania either.

Shopping with cash at a Christmas marketPhoto: Inquam Photos / Alex Nicodim

In recent years, the European Union has adopted various measures to regulate cash payments in order to combat tax evasion, money laundering and terrorist financing. However, limits on cash payments differ significantly from country to country, depending on varying national approaches to EU policy.

For example, in countries such as Italy and France, the limits for cash transactions are set at several thousand euros, while in other countries, such as Germany and Austria, there are no legal limits for such transactions.

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