The EU will put a muzzle on cash. This also applies to Poles

At its meeting on April 24, the European Parliament decided to introduce limits on cash transactions across the EU. The majority of European Parliamentarians supported the introduction of new regulations – informs Forsal.

The EU wants limits on cash

The topic of limits on cash transactions is nothing new. We have already written about it several times, but so far they have only been suggestions. A few days ago (April 24), a vote was held in the European Parliament, during which European politicians voted in favor of implementing them. Now only the European Commission needs to give its consent.

If the regulations come into force, and everything indicates that they will, there will be limits on cash transactions throughout the European Union. These amount to 10 thousand. euro, i.e. approximately 43.3 thousand zloty. This is the amount up to which you can pay in cash. All higher level transactions will have to be conducted electronically.

Importantly, the limits only apply when one of the parties is an entrepreneur. If the transaction is between private individuals and there is no professional context, then the limits will not apply. However, from the perspective of citizens, this does not change much, e.g. for a car more expensive than PLN 10,000. euros will not be able to pay in cash.

If the European Commission agrees to introduce new regulations, they will come into force from 2027. In this way, the European Union wants to prevent money laundering.