Christmas, a time of great economic movement and either for some reasons or others, many Spaniards continue to make cash deposits in their bank account. A process that has not lost strength, despite the increase in transfers through platforms such as Bizum, and on which the Tax Agency sets its eyes to try to avoid fraud and money laundering.
An award from the lottery, payments for a wedding or that gift of money for plug holes are some of the most common cases in which many people go to their ATM to deposit money in their bank account. A task that does not lose steam, despite the advance of telematic money, and which currently has one of its highest peaks.
For this reason, the Treasury puts in place all its mechanisms to monitor the higher amounts and where there may be suspicion of financial fraud. Of course, from a certain limit, since the institution understands that there are routine movements and that they do not seriously worry even if they are made under a shadow economy, if it detects an attempt to launder money it can put such income on notice both to the user and to the entity.
3,000 euros, serious limit for the Treasury
From 3,000 euros, although the alarms of the Tax Agency are activated with income from 500 euros, from these units the institution requests the obligation of a supporting document claiming the amount and the reason why such entry is made through an ATM.
This is reflected in the law that fights against money laundering, in addition to which other provisions are communicated such as the limit on cash payments of 1,000 euros. For its part, all income or payment with 500 euro bills It is also closely guarded by the Treasury and as such you can request a receipt for it.
Money given at Christmas: from what amount must be declared
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