Spain Requires Citizens to Ask for Permission to Withdrawal More Than €3,000 – IOTW Report

Spain Requires Citizens to Ask for Permission to Withdrawal More Than €3,000

FinTechNews

In a move to strengthen its campaign against tax fraud, money laundering and the financing of terrorism, Spain has introduced new measures requiring individuals to notify the national tax authority before making large cash withdrawals from banks.

According to EuroWeekly, any person intending to withdraw €3,000 or more from a Spanish bank must now file a prior notification with the Agencia Tributaria, Spain’s tax agency.

For withdrawals of €100,000 or more, a minimum of 72 hours’ advance notice is required, while amounts exceeding €3,000 but below €100,000 must be declared at least 24 hours before the transaction.

The notification must be submitted through the official website of the tax agency using a recognised digital identification method, such as a digital certificate, Cl@ve PIN or electronic ID card.

Once the notification is submitted, individuals will receive a receipt, which must be presented at the bank when withdrawing the funds. More

18 Comments on Spain Requires Citizens to Ask for Permission to Withdrawal More Than €3,000

  1. @ Dr. Hambone, that is a good thing. the e.u. deserves to die. Spain and all the rest will continue on without the e.u. as they did before. short term pain equals long term gain.
    BTW. As to this article,,,, try a large withdrawal in the US. you will get an anal exam.

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  2. And they wonder why so many people decline to breed. We certainly know who’s who in the zoo in that benighted proto-shithole. I work, I pay your tax on my money, I put it in a bank for safekeeping and you tell me I gotta ask permission to get it out? Hah! Where’s my wireless hole punch, I think I need it. Oh, that’s right, they TOOK THAT ALREADY!!!

    My son went to get some cash for a ring for his fiancée. They told him to come back in a couple of days so they’d have time to round it up. 15K. Not a large amount.

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