The European Union is preparing to introduce a major change to the way large purchases are paid for across Europe. From 10 July 2027, cash payments of €10,000 or more will no longer be allowed in commercial transactions throughout the EU.

The new rules are part of the EU’s wider effort to crack down on money laundering and other financial crimes by making large transactions more transparent and easier for authorities to track.

A common limit across Europe

The change comes under the new EU Anti-Money Laundering Regulation (EU) 2024/1624, approved as part of a wider legislative package adopted in 2024.

Under the new rules, businesses and professionals selling goods or services will no longer be allowed to accept or make cash payments of €10,000 or more. Transactions above that amount must be completed using traceable payment methods, such as bank transfers or card payments.

According to Portuguese news outlet Postal, EU officials say the goal is to create a unified limit across all member states, preventing major differences between national laws that could leave loopholes for illegal financial activity.

However, countries will still be free to impose even stricter national limits if they choose. In other words, Brussels is setting a maximum threshold — not a minimum one.

The rules are already approved — but not yet in force

Although the regulation was officially adopted and published in the Official Journal of the European Union in June 2024, the rules will only become fully applicable on 10 July 2027.

Until then, member states and businesses are expected to adapt to the new framework, meaning cash itself is not disappearing anytime soon — but the use of large amounts of physical money in commercial settings is about to become much more restricted.

What exactly will change?

The new limit applies specifically to commercial transactions involving businesses or professionals.

According to the regulation, any purchase of goods or services worth €10,000 or more will require a payment method that leaves a documented financial trail. The EU is also introducing tighter checks for occasional cash transactions between €3,000 and €10,000, including identity verification requirements in some cases.

Private sales between individuals are excluded

The rules do not apply in the same way to purely private transactions between individuals acting outside a professional or business context.

That means the regulation is not banning cash payments altogether. Instead, it focuses on high-value commercial operations where authorities believe financial transparency is most important.

Portugal already has stricter limits

For Portugal, the practical impact may be smaller than in some other EU countries because national rules are already more restrictive.

Current Portuguese legislation already limits many cash transactions to amounts below the new EU-wide threshold, meaning the country is largely aligned with the direction Brussels is taking.

Why is the EU introducing the limit?

European institutions argue that large cash transactions remain one of the easiest ways to conceal illicit financial activity.

By introducing a common ceiling across all EU countries, Brussels hopes to close gaps between national systems and make it harder for suspicious transactions to move across borders unnoticed. Authorities also believe the changes will strengthen efforts to combat money laundering, tax evasion, organised crime, and terrorist financing.

In essence, the EU is not eliminating cash, but from summer 2027, using it for large commercial transactions without any formal traceability will no longer be possible anywhere in the bloc.