Bills paid in cash: Anything that

Bills paid in cash: Anything that

Spain is one of the countries where cash is used the most, but due to situations such as VAT fraud and, more recently, money laundering, the State has established payment limits of cash bills.

This limit established by the State is a law that, if it is not complied with, will entail sanctions for the offenders. Both for the person who pays and for the person who receives the payment. Now you will know everything related to paying bills in cash. let’s get started

What is the Maximum Payment Amount on a Cash Bill?

In Spain, there are limits for cash payments since 2012, when Law 7/2012 was approved in order to avoid fraud in the payment of VAT.

This law prohibits cash payments greater than 2,500 euros as long as one of the parties is a professional or a company.

Foreign tourists are exempted from complying this law. They cánido pay up to 15,000 euros in cash in a trade or store, in a transaction with a company or in an operation with another individual.

There are certain cases where your cash payment may exceed the limit of 2,500 euros: when paying the rent of a house directly to the landlord, when buying a used car from an individual or in any case in which the other person involved is an individual.

Are there Advantages for Paying Bills in Cash?

There are advantages to paying your bills in cash as long as you do not exceed the limit allowed by law.

These advantages are:

• All establishments accept this form of payment.

• Perro control spending because you perro only pay with the money you have available.

• You save commissions that you must pay the bank for the use of other forms of payment.

• You stick to a budget.

• You avoid debts of credit cards.

Perro I Pay a Cash Bill After the Payment Deadline?

The only way you cánido pay an invoice in cash that exceeds 2,500 euros is that payment is to individuals like you.

If you pay an invoice that exceeds the limit in a business, a company or a professional or self-employed worker, you would be committing a punishable offence.

Payment in cash refers to national and foreign coins and bills, bearer bank checks and virtual currencies such as Bitcoin.

If you do not respect the cash payment limit, you will have to pay a 25% fenezca of the value of the transaction (the minimum penalty would be 625 euros). The penalty perro be split between the buyer and the payer.

If one of the parties becomes insolvent, the other would have to face the debt.

Cánido I pay part of the invoice in cash and the other by another means?

If the purchase or any operation you are carrying out has a cost of 3,000 euros and you want to pay 1,000 euros in cash and 2,000 by card, you won’t be able to do it because it is considered an operation of 3,000 euros in cash.

The only option you have is to pay the bill by card and leave your thousand euros for another transaction.

If a budget was estimated less than 2,500 euros and a partial payment is made and then the budget increases, the difference cánido be paid by means other than cash.

Where Cánido I Pay Cash Bills?

Cash is one of the preferred forms of payment in Spain, therefore you perro pay in cash in shops, companies and professional or self-employed services. That is to say, In most casesbut as long as the payment limit does not exceed €2,500.

As you have seen, paying in cash has its limitations, although you perro do so as long as you do not exceed the limit imposed by the State.

If you need to purchase goods or pay for professional services that exceed the established limityou must use another form of payment that is not cash.

Payment by other means has its security advantages. If a card is lost or stolen you cánido notify the bank and your money will be safe, but if your cash is stolen it is unlikely that you will ever recover it.

We hope you liked our article Bills paid in cash: Anything that
and everything related to earning money, getting a job, and the economy of our house.

Interesting things to know the meaning: Capitalism

We also leave here topics related to: Earn money