In all Scandinavian countries, as well as in the UK, Ireland, the Netherlands, and Estonia, various restrictions have been introduced. In practice, this usually means that retailers simply do not accept large sums in cash.
For example, in the United Kingdom, sellers need special registration with tax authorities if they conduct cash transactions exceeding €15,000. In Norway, there is no limit on purchasing goods, but there is a ceiling not exceeding 10,000 kroner (about €1,078) for paying for services. In Estonia, it is permissible to refuse cash if the buyer gives the seller more than 50 banknotes or coins – regardless of the amount.
In all other countries of Eastern and Southern Europe, there are legally established limits on cash payments. In France, it is €1,000 for tax residents and foreign businessmen, and €10,000 for foreign citizens – ordinary buyers. Cash turnover between private individuals is not limited, but for amounts over €1,500 an invoice is required.
Despite the fact that about half of all financial transactions in the country are carried out using cash, their volume hardly reaches five percent of the total turnover of funds. According to the French National Bank, an average of €24 is transferred from hand to hand in cash per transaction.
In Italy, you cannot pay in cash for purchases over €2,999.99; the minimum fine for violating the law is €3,000, and the maximum can be 40% higher than the amount paid in cash. In Spain, the restrictions are €2,500 for residents and €15,000 for non-residents; in Portugal, it is €1,000 for purchase and sale transactions in trade (with no restrictions on turnover between private individuals). In Belgium, the cash payment limit is €3,000; in Greece, it is €1,500.
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