EU ban on cash payments of €10,000 or more (application date)
Saturday 10th July, 2027
The EU will ban cash payments of €10,000+ in professional/commercial transactions from 2027 and add ID and due‑diligence checks for smaller cash payments as part of a wider anti‑money‑laundering package. This matters to Wise because it shifts more business and consumer cross‑border and high‑value payments into digital rails, giving you a clear role in conversations about compliant, transparent digital alternatives for customers across the UK and EU.
Why have we flagged this?
This directly accelerates the shift from large cash transactions to regulated digital payments — a clear opportunity for Wise to position its low‑cost, compliant cross‑border rails, offer product guidance, and comment as an expert on AML and customer ID impacts.
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