Austria to Introduce €10,000 Cash Limit in 2027
People in Austria who prefer to pay cash for a car, jewellery or other expensive items will soon face new rules. From 10 July 2027, businesses across the European Union will generally be barred from accepting cash payments of €10,000 or more. The rules may also require identity checks for some cash transactions from €3,000.
The changes stem from EU Regulation 2024/1624, part of the bloc’s effort to combat money laundering and the financing of terrorism. For the first time, the regulation will set a common cash-payment limit for commercial transactions across the EU.
Under the new rules, a customer buying a car for €25,000 from a dealer, for example, will not be able to pay the full price in cash. The buyer will need to use another method, such as a bank transfer.
Splitting a large payment into smaller amounts will not avoid the limit. If several cash payments are part of the same transaction, they will be added together. The rule is intended to prevent people from sidestepping the cap.
EU member states may also choose to set stricter limits.
The rules are not limited to payments of €10,000 or more. In some occasional cash transactions, businesses covered by anti-money-laundering rules may have to verify a customer’s identity from €3,000. They may ask to see an official photo ID.
That does not mean cash payments of €3,000 or more will automatically be banned. Nor will every shop have to check every customer’s ID. The requirement applies to certain types of transactions and businesses covered by the relevant rules.
Private sales are treated differently. Transactions between two individuals remain exempt, as long as neither person is acting as part of a business or profession. A private seller will therefore still be able to sell a car or another item for more than €10,000 in cash.
The key question is not just how much is being paid, but who is involved in the transaction.
The new cap will also not prevent people from depositing large sums into their own bank accounts. Someone wishing to deposit €15,000, for example, can generally still do so. Banks are exempt from the payment limit.
However, a bank may ask customers to provide evidence of where large sums of money came from. Existing anti-money-laundering rules will continue to apply.
Austria currently has no general legal limit on cash payments. But some transactions are already subject to identity checks or other requirements, particularly when large sums are involved.
That will change on 10 July 2027, when the EU-wide limit takes effect for commercial payments in Austria. Cash will remain part of everyday life, but anyone making a large purchase from a business for €10,000 or more will need to choose another way to pay.
