As.com What is the limit of money that can be carried in cash when traveling

As usual, summer has brought an increase in travel. And, despite the fact that the use of cash is becoming less and less common, there are many citizens who are still inclined to travel with part of their cash savings to make their payments in the destination chosen for their vacations.

Whether out of habit or to avoid possible inconveniences, the truth is that this practice continues while the use of tools such as Bizum increases. In Spain there is no regulation that stipulates the maximum amount that can be counted on for the transport of cash, as reported by the newspaper La Información, but the Tax Agency has increased control over payments between individuals.

In this sense, the Bank of Spain details that citizens have the obligation to declare that money when "the amount transported is equal to or greater than 10,000 euros in case of exit or entry into national territory or 100,000 euros in case of movements through national territory".

Fight against tax fraud

This is a measure with which the Tax Agency intends to increase control over tax fraud. Specifically, "these obligations are part of the measures for the prevention of money laundering and the financing of terrorism", according to the Bank of Spain.

If the limit of 100,000 is exceeded when traveling through Spain, the Treasury requires that a declaration be made at the provincial customs and excise offices of the State Tax Administration Agency (AEAT) or through the website of this organism. However, if the funds arrive from a withdrawal of money from the bank, this task can be carried out in the entity itself, as detailed in La Información.

The Tax Agency also stipulates that in the event that the objective is to deposit funds in cash in a bank, it will be necessary to submit the S1 form, a document that can be obtained online.