Banks and Credits

Cash payments over 1’000 Euro are forbidden in France

Во Франции запретили оплату наличными свыше 1'000 евро

Starting from September 01, 2015 French consumers, entrepreneurs and companies have not to pay in cash or by electronic money purchasing over 1’000 Euro. The Decree n° 2015-741 dd June 24, 2015 was authorized by The French Ministry of Finance and public accounts. Earlier cash payments were limited by 3’000 Euro.

On the one hand, the government aimes at anonimous payments, on the other hand – people accustom to use bank transaction for for smaller expenses too.Anonimous payments, upon the French government’s view, cover money laundering and terrorism.

In the process of discussing the initiative, opened in middle of March 2015, dissatisfaction on ban was expressed in particular those involved in the tourist business. But, cash limit in form it was approved applies only to residents of France.

This kind of control of expenses, and, as a result, total control over people in general, is implementing globally and have toughening trend. In Russia cash limits at 100’000 RUR (about 1’600 Euro) came into force on 01.06.2014, it is less strict at the moment.

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