Statement From Banco Santander and Caixabank: Spaniards Come Out Ahead With the Change

In the coming years, significant changes will occur in the use of cash throughout the European Union. Banco Santander and CaixaBank have already begun preparing their clients for the modifications that will take effect in 2027. These changes are related to limits on cash transactions, a measure that will affect all EU countries.

From that date, a new regulation will come into effect in the 27 countries of the European Union. It will establish a common limit for cash transactions. This cap will be 10,000 euros, meaning that cash payments above this amount will not be allowed.

Although there is still time before this measure is applied, great interest is already being caused. Many EU countries have very different regulations regarding the use of cash.

For example, countries like Germany, Austria, or the Netherlands currently do not have clear limits on cash payments. This allows citizens to conduct transactions without significant restrictions. In contrast, countries like Spain and France already have established caps, where 1,000 euros can't be exceeded.

The reason behind the implementation of this new regulation throughout the EU is the fight against illegal activities associated with the use of large amounts of cash. These activities include money laundering, financing of criminal and terrorist networks, among other illegal practices. The EU hopes that this measure will help curb these crimes by making it more difficult to conduct large transactions without proper control.

Banco Santander and CaixaBank Are Giving Notice

Banco Santander and CaixaBank are already preparing their clients for these changes. Both banks have begun informing about the future modifications and offering alternatives for their users to adapt to the new regulation. For example, they are promoting the use of electronic payments and other forms of transactions that do not rely exclusively on cash.

This way, the entities aim to facilitate the transition process. They ensure that their clients can continue conducting their operations comfortably and safely.

It is important to highlight that the measure will affect all countries of the European Union. Therefore, citizens of all member states will have to adapt to this new regulation. However, experts believe that the changes will benefit citizens in the long term.

By reducing cash transactions, greater transparency in financial operations will be promoted. This will contribute to a cleaner and safer economy.