From July 10, 2027, new anti-money laundering rules will be applied in Poland and other EU countries, which also concern cash transactions. They establish a cash payment limit and require customer verification in specified cases. This is reported by EU Regulation 2024/1624.
Cash purchases in Poland: what will change from July 2027
The regulation establishes a pan-European cash payment limit of 10,000 euros or its equivalent in another currency. Payments exceeding this threshold to sellers or service providers will be prohibited. Presenting a document will not allow circumventing the restriction.
The limit applies both to a single payment and to several related transactions. Therefore, splitting the payment of a single purchase into parts to bypass the limit will not work. Meanwhile, EU countries may apply lower national limits.
Exemptions are also provided. In particular, this limit does not apply to payments between individuals who are not acting within the scope of professional activity. A separate procedure applies for depositing money into financial institutions.
In a publication in inPoland, July 19 is noted, but the regulation will be applied from July 10, 2027. The document also does not confirm claims that cash payments over 10,000 euros will be allowed provided the buyer is identified.
Verification of buyers in Poland: is it mandatory to provide PESEL
The regulation separately defines the obligations of banks and other entities engaged in financial monitoring. For them, customer verification is required, in particular, during transactions from 10,000 euros. This rule does not mean that every store will check any purchase of that amount: the status of the seller and the nature of the transaction are important.
For one-off cash transactions exceeding 3,000 euros, regulated entities must at least establish and verify the identity of the customer. Calling this simply simplified verification is inaccurate: the regulation defines a minimum set of actions, and in the presence of risks, control may be broader.
Similarly, bank transfer verification is not limited to just one threshold. Suspicion of money laundering may be grounds for verification regardless of the amount.
During identification, the name, surname, date and place of birth, citizenship, and address may be collected. The national identification number is noted when applicable, and the tax number if available. In Poland, this may relate to PESEL or NIP depending on the situation.
Thus, the regulation does not establish a universal rule regarding mandatory PESEL for every expensive purchase. A bank transfer does not exempt from verification either: the seller or financial institution may request additional information.
Before a significant purchase, it is worth clarifying the allowed method of payment and the list of documents required. The requirements for an account in a foreign bank, identification checks, and confirmation of the source of funds depend on the specific transaction, not just its value.