New Cash Payments and Payments Limits from ATMs

Before the elections to the European Parliament, the associate States of the European Union reached an agreement on the limits of cash payments. The fresh regulations aim at closer control of the money flow and are also step in the fight against money laundering. Poland, like another EU countries, agreed to these changes. See what fresh rules will apply and how your regular financial transactions will be affected.

The fresh rules introduce a limit on cash payments to EUR 10 000 (approximately PLN 43 thousand) for transactions in which 1 organization is an entrepreneur. The aim is to increase financial transparency and prevent illegal activities.

Key Changes:

• EUR 10 000 limit is valid erstwhile 1 of the parties to the transaction is an entrepreneur.
• Transactions between private individualswhich are not related to professional activities, are excluded from this restriction.
• Obligation to registry payments above EUR 3 000 (about 13 1000 PLN) for services or products.

These changes aim to combat money laundering and terrorist financing by expanding financial transparency.

Polish Provisions and Changes in the Payment Limity

Poland already applies cash payment limits, but the fresh rules will introduce additional changes.

Current Limits in Poland:

• Cash payments between entrepreneurs are limited to PLN 20 000.
• Companies may not pay in cash if the one-off value of the transaction exceeds PLN 15,000 gross.

Under the Polish Governance, it was planned to reduce this limit to PLN 8 000but these provisions have been suspended.

New Obligations

The fresh rules require registration and recognition of all cash payments over PLN 13 thousand. This aims to guarantee even greater financial transparency. associate States have three years to adapt its rules to those fresh rules which will enter into force after publication in the authoritative diary of the European Union.

AMLA: fresh anti-money laundering body

In mid-2025, Frankfurt will start its business new anti-money laundering and terrorist financing body (AMLA). Its task will be:

• Monitoring of financial transactions within the European Union.
• Coordination of actions and support for national taxation authorities.

AMLA will have a key function to play in better countering illegal financial activities.

Controversies and Opinions

The introduction of fresh government has caused controversy, especially in the European Parliament. MEP Patrick Breyer highlighted the negative aspects of the ban on anonymous payments. In his opinion:

• Prohibition of anonymous payments may have a minimal impact on crime.
• It can deprive innocent citizens of financial freedom.

Payment limits from ATMs in Popular Banks

The changes besides concern cash withdrawal limits from ATMs already in force. It is worth knowing the limits in the most popular banks to avoid unpleasant surprises while paying larger sums of money.

Payment limits in Popular Banks:

• PKO BP: The regular limit may be up to PLN 10 thousand, depending on the kind of card held.
• Santander Bank Polska: Limit determined individually, usually from 3 to 10 1000 PLN.
• mBank: The standard regular limit is about PLN 5 000, with the anticipation to increase on request of the customer.
• ING Bank of Silesia: The payout limits depend on the kind of account and card, with a maximum amount of up to PLN 10 thousand.

It's worth knowing.

• The maximum amount to be paid from an ATM within 1 day depends on the policy of a circumstantial bank and the kind of card held.
• We frequently usage smaller withdrawals, reaching respective 100 zlotys, but it is worth knowing the limits in case of the request to pay larger sums.

New cash payment limits and changes in ATM withdrawal limits are also step towards greater financial transparency and the fight against illegal financial activities. Despite the controversy they cause, they aim to guarantee financial safety and increase control over the flow of money.

Knowledge of fresh rules and limits will avoid unpleasant situations and adapt to changing regulations. Be aware of your rights and obligations to effectively manage your finances.