This is the maximum amount of cash you can carry in your wallet without having to declare it

The coronavirus pandemic has increased the importance of contactless payments or by telematic means, leaving aside or as something less frequent the possession of cash in our wallet. Carrying money in your wallet, how could it be otherwise, is not illegal but there are certain limits regulated by law.

Specifically, Law 10/2010, of April 28, aimed at regulating “preventive aspects of both money laundering and financing of terrorism”, establishes that citizens They cannot carry certain amounts of cash with them without having previously declared them and correctly.

According to article 34 of the law, citizens are obliged to present a prior declaration if they carry out “movements through national territory of means of payment for amount equal to or greater than 100,000 euros or its equivalent in foreign currency. “The amount drops to 10,000 euros if the movement implies an exit or entry from the national territory.

For all intents and purposes, the law understands movements as “any change of place or position that is verified outside the domicile of the portedr of the means of payment. “This makes explicit reference, among other cases, to carrying money (in a wallet, in a briefcase …) on the street, regardless of purpose.

But not only cash: the regulations include, in addition to paper money and metallic currency, negotiable bills, bearer payment methods, prepaid cards and raw materials used as highly liquid deposits of value as well as other means of payment that do not escape either. to control when the established quantities are exceeded.

This is how you have to declare this money

Below 100,000 euros (and 10,000 in changes of country), the citizen is not obliged to declare the origin of the money or different means of payment, but if it reaches these amounts the law establishes that they must carry a prior declaration signed in the which must indicate “truthful data relating to the carrier, owner, recipient, sender, amount, nature, origin, intended use, itinerary and mode of transport of the means of payment”.

This declaration can be required “at any time” by both customs and police personnel. In order to verify that the regulations are not breached, they will also be able to review citizens’ luggage and means of transport.

Cash and other means of payment may be intervened for a period of 30 days extendable up to a total of 90 days when:

-The declaration of that money is not presented being mandatory.

-The declaration of that money is presented after the deadline.

-The declaration of that money is presented with incorrect data or with a lack of information.

-The means of payment are not made available to the authorities for verification and control.

-The means of payment are well declared but it is suspected that they are linked to criminal activity.