Cash payments will be restricted in the EU, including Hungary
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Starting in July 2027, the European Union will introduce a uniform cap on cash payments across all its member states, setting the maximum amount at EUR 10,000. This new regulation aims to strengthen the fight against money laundering, terrorist financing, and other illicit financial activities by reducing the use of large cash transactions.
Key details of the new regulation
According to EVZ.de, under the upcoming rules, any cash payment exceeding EUR 10,000 will be prohibited in business and professional transactions throughout the EU. This limit applies regardless of whether the payment is made in euros or other currencies. For cash transactions between EUR 3,000 and EUR 10,000, sellers will be required to verify the buyer’s identity by requesting an official identity document. This measure is designed to increase transparency and traceability in cash dealings.
Exemptions for private transactions
The regulation does not apply to private individuals engaging in non-professional transactions. For example, selling a used car to a neighbor in cash will still be permitted without restrictions. However, professional traders and businesses will need to comply with the new limits and identification requirements.
Flexibility for member states
While the EU sets the EUR 10,000 ceiling, member states may choose to implement stricter limits if they wish. Countries with existing lower thresholds, such as France and Spain, where the limit is currently EUR 1,000, can maintain their more stringent rules. This flexibility allows national governments to tailor the regulation to their specific financial environments.
Situation in Hungary
There are currently no restrictions on cash payments by private individuals in Hungary, but a monthly limit of HUF 1.5 million (approximately EUR 3,700) applies to businesses. At the same time, in April 2025, the Hungarian Parliament amended the Constitution to enshrine the right to pay in cash as a fundamental right, thus making the acceptance of cash mandatory in consumer protection and commercial regulations, with the exception of certain services that require electronic payment (e.g. digital services, foreign webshops).
the amount between HUF and euro is wrong. i mean, HUF 1.5 million is not EUR 41,695. HUF is not that strong (well, maybe in orban dreams)
“This measure is designed to increase transparency and traceability in cash dealings.”
Yeah.
Right.
Sure.
We “conspiracy theorists” have been warning you that this was coming but were decried as kooks and loons. Now they’ll be able to deny you products and services if they deem you politically unsuitable. Just ask China. It is the first step toward digital currencies, with an expiration date, which will enable them to track your every move, control your every decision, and make your life unlivable if you are not an obedient little serf.
You bought a pound of beef this month? That’s half your carbon quota so now you either don’t eat or don’t heat your home until next month.
You wrote on Facebook that illegal aliens are causing most of the rapes and robberies in the country? Your money has now been canceled.
Think it won’t happen? See you back here in five years. (Or less.)
… Or the Home of the Free, Land of the Brave ! Getting ever better, there. Mr. Trump realizing the American Dream.
You may also want to check out how the Hungarian VAT system works – speaking of “tracking”. And Pegasus, anyone? Oh wait – that was against Enemies of the People. Or Politicians? Or the Italian tax system, and the reporting rules around people traveling and making use of paid-for accommodation (Mrs. Meloni turf). Or the UKs CC TV system…
Enough to conspiracy theory around, and when in doubt, there is always “Soros!”.