The amounts of cash that can be carried over are limited by law . A limitation measures framed within both Spanish and European, for the prevention of money laundering and terrorist financing .
On the website of Finance for all , an initiative of the Bank of Spain and the Comisión Nacional del Mercado de Valores (CNMV) to promote financial education, review what the limitations of cash holdings are and how to act in case of exceed certain limits .
How much cash can I carry?
There is no limitation on the transport of cash within Spain, but there are ” obliged to declare any internal movement in the Spanish territory of an amount equal to or greater than 100,000 euros ” or its value in another currency .
If you depart from traveling abroad or returning from a trip to Spain there is no cash limit , but ” who enters or leaves Spain with an amount equal to or greater than 10,000 euros (or its value in other currency) must make a statement “.
This obligation also applies to any movement or from member countries of the European Union (EU) and by any means, land, sea or airport frontier .
What is considered as cash?
In addition to the cash , in any currency, “also take into account other payment as bearer checks, cash cards or other electronic payment ” notified from Finance for everyone.
How do I declare cash amounts that exceed the limits?
In all cases, we must make ” a declaration by completing and submitting the form S1 “.
The S1 form that can be filled and downloaded from the website of the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (Sepblac) , is free and has no cost submission also you do not have to attach any other documentation. Most importantly , you should always be submitted in advance to the movement.
Depending on where the movement occurs, the S1 form must be submitted to one or another agency .
- Cash flow without withdrawal or deposit bank : shall be declared the Provincial Branch of Customs and Excise of the State Tax Administration Agency (AEAT) or through the website of the AEAT .
- Withdrawal from a bank : the declaration can be made to the bank itself which is the account from which the funds are to be transported are removed.
- Cash deposit in a bank : the entity must request the display S1 form that the depositor must obtain before making such a move.
The S1 form must be presented to the relevant customs services , “where these forms are also available for its completion”.
In the case of EU countries where no customs declaration can be done electronically or ” shall be communicated at the first point of Customs that is “.
Should I bring up proof?
From Finance for all note that ” the copy of the form will behave S1 presented together with cash throughout transport , must be displayed, if any, at the request of the forces and state security”.
What if I do not declare the cash?
“In those cases not counted on the form corresponding S1 will proceed to the intervention of the total funds transported, your deposit and start disciplinary proceedings ” recall from Finance for everyone.
Banking institutions are also required to report monthly to all customers who have withdrawn cash without making the declaration or have not taught the document to deposit the funds. In both cases, disciplinary proceedings will be initiated.
The fines in the event of a breach of the declaration range from 600 euros to double the amount transported .