Cash Limits Coming to Austria in 2027
VIENNA: Austrians are known for their strong attachment to cash. But from 10 July 2027, people and businesses across the European Union will face stricter rules on large cash payments.
Under a new EU regulation, companies and self-employed people will no longer be allowed to make or accept cash payments of €10,000 or more in business transactions. The measure is designed to make money laundering and the financing of terrorism more difficult. The same basic limit will apply across all EU member states, although individual countries may keep or introduce stricter national rules.
The rule will mainly affect commercial dealings. For example, a customer buying a car, jewellery or another expensive item from a trader will not be allowed to pay €10,000 or more in cash. Payments between companies will also be covered if at least one side is acting in a professional or commercial capacity.
The new ceiling will not generally apply to private transactions between two people who are acting outside any business activity. A private person selling a car or another valuable item to another private buyer will therefore remain outside the EU-wide limit, under the regulation’s current provisions.europarl.
However, additional checks will begin at a much lower level. For occasional cash transactions of €3,000 or more, traders and other obliged businesses will have to carry out stronger customer checks. They may need to verify who is making the payment and examine the origin of the money. Linked payments cannot simply be divided into smaller amounts to avoid the rules.
The regulation forms part of the EU’s wider campaign against financial crime. For Austrian consumers, everyday cash purchases will remain possible, but large commercial payments will increasingly require a bank transfer, card payment or another traceable method.
