From a certain sum, you will no longer be able to make cash payment.
Buying a used car, adjusting work, paying a watch or a cash sofa: so far, it was possible, within certain limits set by each European country. But this fragmented landscape will soon disappear. The European Parliament voted a reform which supervises, strictly and uniform, the use of liquid payments in the 27 Member States.
From 2027, a single ceiling will be established: 10,000 euros maximum, whether to buy a car, a work of art or pay a service. Clearly, you can always pay in cash, but more beyond this threshold. And some countries will go even further. “But states like Austria or Luxembourg will have to introduce a hitherto nonexistent limitation”, underlines the site of the European Consumer Center France (CEC). Conversely, already stricter countries – like France, where the ceiling is 1,000 euros in a merchant – will have the right to keep lower thresholds.
Another novelty: between 3,000 and 10,000 euros, an identity document should be required. Whether you buy a used car from an individual or regulate an invoice to a professional, the seller will have to check your identity. This rule will apply throughout the union. In France, this control will complement a measure already in place: any cash payment greater than 1,500 euros between individuals must be accompanied by a writing.
Why this reform? To curb money laundering, the main risk associated with liquid payments, difficult to trace. Until now, the differences in regulation between countries opened breaches. It was enough to cross a border to enjoy a more flexible frame. Tomorrow it will no longer be possible. The framework will be common, the exceptions limited.
This does not mean the end of cash. Many hold it, whether for concern for confidentiality, control of their budget or by distrust of banks. Buying cash is also to avoid credits, interest, files. Some prefer to pay their new car in cash when they buy it to an individual, to go faster and not go through the bank: this type of scenario is still authorized, as long as the sum remains under 10,000 euros.
But the cash should now be discreet. The reform marks a turning point: the liquid will no longer be completely free. It becomes a method of payment like any other, supervised, supervised, limited. For some, it is an attack on freedom. For others, a necessity in the face of mafia drifts. In any case, it will be better to keep an eye on the amount when you pay in tickets. Because from 2027, getting out too much cash could quickly become illegal.
