Treasury warns about the maximum amount of money that can be taken out of the cashier

There is nothing more convenient than paying by card. However, I'm sure you too have found yourself in certain situations where you need to have enough cash. For this reason, nothing better than approaching the cashier to speed up the process.

Although this is a very common gesture, the truth is that the Treasury is increasingly looking to control the amounts that users withdraw, the main objective being to fight against money laundering. For this reason, even if you use your debit or credit card in general, you are interested in knowing the maximum amount you can withdraw from the cashier on a daily basis. That way, when you have to make a payment, you won't have any kind of problem.

Índice
  1. Each bank usually regulates cash withdrawals
  2. This is the maximum amount you can withdraw from the ATM according to the Tax Office
  3. The objective pursued by the Treasury with these measures

Each bank usually regulates cash withdrawals

In addition to the Treasury, the same bank that owns the teller usually imposes a maximum limit for withdrawing cash. In this case, each one may have a different top, so it is best to consult the conditions in each one.

Although the limit figure may vary depending on the bank, the truth is that, in almost all of them, the value is around 600 euros. However, this limit can also be modified by users according to their needs. Of course, to do this, you must always take into account what the law allows and what not. Before doing so, it is best to contact your bank, as each bank may have a different maximum amount.

Photo of some fifty euro bills coming out of a cashier.

| Getty Images

This is the maximum amount you can withdraw from the ATM according to the Tax Office

Currently, theTax Agency is increasingly dependent on the amounts that can be withdrawn in cash from the teller. For this reason, it has imposed the maximum figure of 3,000 euros as a limit.

However, it doesn't mean you can't get a bigger amount than that. To be able to do this, you must have a receipt or proof to demonstrate why you need a higher cash figure. You will get this inside your bank office. At the same time you request it, the entity is obliged to notify both the Bank of Spain and the Tax Agency.

However, in amounts of 1,000 euros or more, banking entities could be more complicated to manage. In these cases, the bank may also request proof of the transaction. In addition, the user will also need to identify himself, to prove that he is the one ordering the withdrawal of cash at that time.

The objective pursued by the Treasury with these measures

Treasury carries out more and more security measures with the aim of fighting money laundering. One of the ways to do this is through the control of cash withdrawals at ATMs. In this way, it pursues tax fraud and tries to avoid it whether it is yes or no.

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This is the main reason why you cannot dispose of all your money as you please, even if you have amounts in the bank above this 3,000 euros daily limit. To strengthen security measures, another reform has also been carried out regarding the limit amount for cash payments.

From mid-2021, Law 11/2021 changed the maximum amount of 2,500 euros, proposed in 2012, to 1,000 euros. This maximum affects transactions in which at least one of the participants is a company or professional. In other words, payments between private individuals or those made in financial entities would be outside the eyes of the Treasury.

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