There is a new limit for making transfers which will hit you hard, especially if you often send money to friends and family. Especially if we are among those who usually start making transfers to help our children if they study abroad or if we simply want to communicate with that money that perhaps one of our loved ones is missing. The Treasury confirms that there is a cap on transfers if we want or need to make them, so they do not become a major problem.
If you need to make private transfers, that is, you do not have an invoice, but you simply need to start balancing some accounts that until now are not of the professional type, be very careful. The Tax Agency has a series of elements that will make an important difference. Knowing that we will be faced with a situation that could make a difference. There is a limit to transfers that you may not have known about until now. Money is perfectly organized and can end up being a before and after in this change of cycle that awaits us. Better to be up to date with the regulations.
Confirmed by the Treasury, this is the new maximum
There is a maximum amount in moves it is done to achieve what we want and it may end up being what makes a significant difference. Without a doubt, we must begin to create a series of details that will accompany us on these dates.
There are days when helping a family member can be an economic problem. Being able to send him money to pay his debts or, simply, start managing certain processes that will be much better. It’s time to take into account the money that can disappear very quickly.
Helping an absent child or regularly sending them money can also pose a problem in this transformation that we may not have even imagined until now. Therefore, we would have imagined these days that we had before us details that to this day can scare us.
Justifying something that has no justification, that is to say those money transfers for which we do not have an invoice, can be complicated. With this we will start to manage some elements a little better that we would not have even imagined until now.
This is the new limit for making transfers to friends and family
The amount that the Treasury begins to track is when it exceeds 3,000 euros, although today making transfers of a higher amount is complicated. So you may see small movements, but in the end the sum may equal or exceed this amount of money.
Be very careful if we do this, it is something that can fully affect us in the days ahead of us. So ultimately what we need is to start creating some elements that will carry us through those days. Make transfers, but be careful, the rule also mainly affects cash movements. According to the Treasury.
The specific cases in which the obligation to declare arises are as follows:
- Any person (Spanish or not) who travels outside Spain carrying cash (whether in euros or other currencies) or bearer bank checks in an amount equal to or greater than 10,000 euros .
- Any person (Spanish or not) who intends to access the national territory carrying cash (whether in euros or other currencies) or bearer bank checks in an amount equal to or greater than 10,000 euros.
- In these two cases, entry or exit is understood as taking place towards any third country, including members of the European Union, whether via a land, maritime or airport border.
- Likewise, there is an obligation to declare movements of cash within our country when the amounts transported are equal to or greater than 100,000 euros.
Openbank helps us to know the maximum amount that can be sent without the Treasury investigating us, following these experts: “The limit for transfers and other banking operations is marked by Law 7/2012 of October 27. This document establishes that banks must inform the Treasury when suspicious money movements occur or exceed certain amounts. The maximum amount of undeclared transfers is generally €10,000. This means that if you make a transfer greater than this amount, at Openbank we are obliged to inform the Treasury, regardless of the channel you use. “This regulation also applies to mobile payment transactions, for example.”
So this way we will know that there is a maximum, but if we can stick to a minimum, it will be much better than we expected.
