Cash transactions over 1000 euros prohibited

No Cash Payment Over 1,000 euros from September

Finance

Cash transactions over 1000 euros prohibited

The aim is to fight against financial fraud and tax evasion …

Cash payments in excess of € 1,000 will be banned from 1 September, according to a decree published today, Saturday in the Official Journal (OJ).

Until now, consumers could pay for their purchases in cash or by means of electronic money up to 3,000 euros where the debtor is resident in France.

Strengthen the fight against illicit financial circuits

This text is made under Section I of Article L.112-6 of the Monetary and Financial Code, which provides that “payments can not be made in cash or by means of electronic money payment of a debt exceeding a set amount by the decree, taking into account the place of tax residence of the debtor and the professional purpose of the operation or not. ”

This is to strengthen the fight against illicit financial circuits that use anonymous payment means, and to crack down on tax evasion.

This decree will affect all French consumers, merchants and companies.

No Cash Payment Over 1,000 euros from September 1

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