EU ban on large cash payments
Wednesday 20th May, 2026
The EU will prohibit commercial cash payments of €10,000 or more from 10 July 2027, mandating traceable methods like bank transfers or cards to curb money laundering; Portugal is largely already aligned. This gives Wise a chance to explain how digital, transparent cross-border payment tools make large transactions compliant and simpler for customers in the UK and across Europe.
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Why have we flagged this?
The EU's ban on large cash payments will push more consumers and businesses to traceable digital payments across borders — an opportunity for Wise to comment on cross-border payment trends and promote its transparent, low-cost transfer and multi-currency services.
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