Banco Santander's Official Notice to Those Who Use Their ATMs: You Won't Be Able to Do It Anymore

Banco Santander, like other banking entities in the country, has long been informing that there is a daily limit for withdrawing cash from ATMs. This is a regulation that implies that no user can exceed this limit under any circumstances.

This decision is due to the regulation and the intention to facilitate the control work by the Tax Agency. Meanwhile, the Treasury could request explanations about the origin and destination of the money when certain amounts are exceeded. This way, and to avoid problems, the bank sets a maximum amount of cash that can be withdrawn in a single transaction.

The Limit for Withdrawing Money at Banco Santander ATMs

Banco Santander sets the withdrawal limit at 3,000 euros ($3,000) per transaction at any of its ATMs. This limit applies at each ATM, in accordance with recommendations issued by the relevant institutions. The measure aims to prevent possible abuses and facilitate the monitoring of operations that could lead to fraudulent practices or money laundering.

This provision has significant implications for those who rely on cash for their daily activities. Regular ATM users must be aware of these restrictions and adjust their withdrawal habits according to the new limit.

It should be noted that Spanish regulations set a cap of 100,000 euros ($100,000) in cash that can be carried without incurring penalties. When it is necessary to carry a larger sum, it is essential to have a signed declaration justifying the origin of that money.

The current legislation imposes limits to prevent illicit activities such as tax fraud and money laundering. In fact, the Treasury already recommends that banks make inquiries when the amount to be withdrawn exceeds 1,000 euros ($1,000). These measures aim to ensure that the use of large sums of cash is carried out transparently and justifiably.

However, Banco Santander customers have various alternatives at their disposal to manage their operations. Such as online banking and electronic transfers, which allow money to be moved without the limitations imposed on ATM withdrawals.

But, for those who require cash, it is essential to know and respect the limit of 3,000 euros ($3,000) per transaction. This way, you will avoid inconveniences and possible requests for justification from the Treasury.