If You Want to Withdraw More Than 1000 Euros From the Atm You Might Have a Problem With the Tax Agency

Tax Agency Intensifies Control Over Cash Withdrawals at ATMs. Although digital payments and credit card transactions have gained ground in recent years, many people still opt for cash.

This practice remains common, which has led the Tax Agency to strengthen its monitoring of bank transactions, especially cash withdrawals at ATMs.

The goal of this control is to detect possible tax fraud and irregular operations. The Tax Agency monitors both cash payments in establishments and cash withdrawals, as both can be linked to illicit activities.

For this reason, there are certain amounts of money whose withdrawal could trigger alerts in the tax supervision system. Below, we explain which specific amounts could attract the Tax Agency's attention and why it is advisable to avoid them.

Spain: No Fixed Limit for Cash Withdrawals, But With Tax Control

Despite some widespread rumors, in Spain there is no specific limit for withdrawing cash from banks. Customers can withdraw any amount they wish. However, they should keep in mind that from certain sums, the Tax Agency may request explanations and even initiate an investigation to prevent possible tax fraud.

Meanwhile, many banks impose restrictions on credit card withdrawals. But these limitations are related to security measures and can be adjusted according to the user's needs.

How Much Money Can Raise Suspicions at the Tax Agency?

In Spain, there is no maximum limit set by the Tax Agency for withdrawing cash from an ATM. However, from 1,000 euros, the Tax Agency may request information about the transaction, whether it is a withdrawal or a deposit. In these cases, the bank is required to identify the customer and provide details about their financial movements.

When the amount reaches 3,000 euros, the level of control intensifies, and such transactions can trigger alerts at the Tax Agency, which could lead to an investigation. For this reason, banks advise customers that if they are going to carry out transactions for these amounts, they should do so with the advice of bank staff. Additionally, they should obtain a receipt that can be presented to the authorities if necessary.