Can I pay over €500 in cash?
No: a transaction of €500 or more with a business can't be settled in cash. When, as a private individual, you buy goods or services from a business and the document (receipt/invoice) is €500 or more, payment must be by card or other electronic/bank means, not cash. Legal basis: Law 4446/2016 (Art. 69), which lowered the old €1,500 threshold to €500, now within the Tax Procedure Code. The limit concerns retail (B2C) transactions; B2B has its own rule. Note: this is entirely different from the €10,000 cash-declaration limit at borders (an anti-money-laundering rule). In short: €500 and over → card.
📋 The rules
- Document to a private person €500+: pay by card/electronically
- Legal basis: Law 4446/2016 (Art. 69)
- Concerns retail (B2C); B2B is separate
- Fine for cash: double the amount
- Under €500: cash allowed
🔓 Exceptions
- Separate purchases under €500: can be cash
- B2B transactions: a separate cash restriction applies
- The €10,000 border limit: an unrelated customs rule
⚠️ Penalties & fines
If the business accepts cash on a covered transaction of €500 or more, the fine equals double the cash paid. The rule governs the payment method, not cash possession — it's not illegal to hold cash, only to settle a €500+ purchase from a business that way. Beware a common confusion: the €500 limit (payment method) is unrelated to the €10,000 cash-declaration limit at borders (an anti-money-laundering rule). To stay compliant: for any purchase of €500+ from a shop or provider, use a card, transfer or other electronic means, so the expense is also recognised for tax.
📎 Official sources
- Law 4446/2016 (Art. 69) — cash limit →
- AADE — electronic transactions →
- gov.gr — payments and transactions →
❓ Frequently asked
What's the cash limit on purchases?
When you buy goods or services from a business and the document is €500 or more, you must pay by card or other electronic/bank means, not cash. The limit was lowered from €1,500 to €500 by Law 4446/2016.
What fine applies if I pay cash?
If the business accepts cash on a €500+ transaction that should have been settled electronically, the fine equals double the amount paid in cash. The rule aims at the transparency of transactions.
Does it apply between private individuals?
No. The €500 limit concerns transactions between a private person and a business (B2C). Transactions between businesses (B2B) have their own separate cash restriction. Sales between private individuals follow other rules, depending on the item.
Is it the same as the €10,000 border limit?
No, they're entirely different. The €500 limit concerns the method of paying for a purchase. The €10,000 limit concerns the duty to declare cash carried across EU borders, a customs anti-money-laundering rule. They're often confused.
Can I split the purchase into smaller amounts?
Different, genuinely separate purchases under €500 can be paid in cash. But artificially splitting a single €500+ transaction into smaller documents to avoid the rule can be treated as circumvention and audited.
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