Carrying money in the car – why is it prohibited and when is it confiscated?

Carrying cash in the car can get us into trouble, especially if the amounts are considered high for the time “plastic” money or if you prefer “digital” is gaining more and more followers.

The use of cash has declined significantly in recent years in the Western world, which also applies to Greece, which follows trends where plastic money has largely replaced cash.

Based on the relevant law existing in Greek territory The cash transaction limit is 500 euros Any other transaction exceeding this limit must be completed electronically.

Trade restrictions exist, of course, to combat money laundering (black money) and, among other things, to prevent sources of terrorist financing.

Regarding the car, transferring large sums of money even with ICHE It is a completely legal procedure and legally there is no upper limit on the money Which one can carry.

However, in the event of an inspection, if a very large amount of money is found in the car, the vehicle owner and the owner of the funds may be asked to clarify and prove to the competent authorities that this amount is legally in their possession.

Furthermore, there are limits and restrictions on the available cash that drivers who frequently travel in the EU can take out of the country. Or outside it

So, if the driver crosses the border and enters or exits Greece, Whether from one of the European Union countries or not and carrying with him 10,000 euros or more, he must declare this to the customs authorities.. This also applies to any other financial or monetary instrument that can be transferred anonymously from one person to another.

Money transfer from Greece Traveling abroad by car is allowed for an amount of up to 2,300 euros per person and per trip.

If the amount you have exceeds 10,000 euros and you have not declared this There is a possibility that the customs authorities will freeze the funds and impose sanctions as wellWhich varies from one member state to another.

Commitment It may last up to 3 months, subject to money laundering provisions. In addition, the Customs Law stipulates the imposition of a fine equivalent to 25% of the volume of undeclared reserves.

A typical French driver example, Who tried to cross the country's borders with his car carrying 20,000 euros. The Frenchman did not announce the amount, and in a check drawn up by the customs authorities, the money was confiscated because the driver was unable to prove that he had it in his possession legally. He finally succeeded after two years and a legal battle.

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