Spread the love

At most, how much cash can you have on you or at home ?

© Banque Populaire

In the age of bank cards and contactless payment with a smartphone, cash can seem a little outdated. Although the use of cash has declined over recent decades and the number of ATMs in circulation is falling, they remain predominant in around half of transactions according to the latest figures communicated by the Banque de France.

These transactions generally involve small, everyday purchases. Out of distrust of banking institutions or out of habit, there is, however, a segment of the population that still prefers to make substantial payments in cash or keep substantial amounts of cash at home.

Cash payment is regulated

Cash payment is regulated because it facilitates undeclared transactions – and it thus escapes tax control. Concerning the simple possession of cash on oneself or at home, the regulations are more vague: there is no law setting a limit on the amount of cash other than that. ;we can own. Maître Stefania also specifies on her site: “In France, the law does not specify any threshold above which it would be illegal to travel. There is therefore no limit to the amount of cash you can carry, but you still need to know the rules to follow when carrying cash”.

Please note, a distinction is made between moving in the street and crossing the border. The Monetary and Financial Code stipulates that a person entering or leaving the European Union must declare securities held from 10,000 euros, including cash, gold, checks bearer, and money orders. This limit also applies to married or civil partnership couples whose property is presumed to be joint.

An obligation to provide justification

Although there is no legal maximum for the amount that one can keep at home, an obligation of traceability persists: it is imperative to be able to justify the amount that one can keep at home. #8217;origin of funds from the tax administration. You must therefore be able to justify the origin of the cash you have with you (or that you store at home).

If this declaration is made accurately, there is no limit to the amount retained. In the absence of a declaration, a tolerance of 10,000 euros is generally observed. Beyond that, the authorities may suspect tax fraud or money laundering. In other words, if you sell an expensive product on the internet and you receive cash in exchange, you will need to issue an invoice to ensure the amount is justified.

The liquid limit is flexible and depends on several factors. An undeclared treasure of 10,000 euros will be perceived differently depending on the income level of the household concerned. The authorities also take into account the presence of other valuables such as gold, jewelry, and furniture. Also, traveling with a briefcase containing tens of thousands of euros will require good explanations in the event of a police check.

📍 To not miss any news from Presse-citron, follow us on Google News and WhatsApp.

Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116