How much cash can be transferred abroad and how is this done? We explain

– When crossing the external borders of the European Union, you can carry cash up to PLN 10,000 without fear of violating the regulations. Euro or its equivalent in another currency, that is, up to about: 46 thousand. PLN, 237 u. Czech crowns 11 thousand. 75 thousand dollars, Danish crowns, 9.8 thousand. francs or 8.9 thousand. pounds or pounds by weight. The lower limit set in the case of Polish currency allows you to determine the average exchange rate of the National Bank of Poland on the day before crossing the border. Similarly (using indices from other central banks), it is also possible to set exact amounts in monetary units other than the euro, says Robert Bosacek, Director of Strategic Clients at Cinkciarz.pl.

The threshold of 10,000 euros (or its equivalent in another currency) applies regardless of inflation or the chosen mode of transport (car, plane, train, ship, motorcycle or even bicycle). Importantly, the official portal of the European Union indicates that the same limit also applies to coins collected at least 90 percent. The content of gold, bullion, bits of precious metal, traveler’s cheques, notes and coins which, although no longer in circulation, can still be exchanged at the bank for valid means of payment.

Europa.eu also states that the customs authorities may request a cash declaration declaration if the cash is worth at least PLN 10,000 and the euro was sent to or from the Union by post, freight or courier. In such cases, the sender or recipient or their representative must submit the Cash Disclosure Declaration within 30 days of receipt of the application by the customs authorities.

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Citizens of countries that belong to the European Union and the Schengen area at the same time may feel privileged in this regard. These standards are met by 22 countries, including Poland, Germany, the Czech Republic, Slovakia, Lithuania, Austria, Belgium, Croatia, Denmark, Estonia, Finland, France, the Netherlands, Greece, Spain, Luxembourg, Latvia, Malta, Portugal, Slovenia, Sweden, Hungary and Italy. Citizens of these countries who move within this region do not have to worry about the limit of 10,000. Euro.

What is the penalty for breaking the rules?

If we want to import into the European Union or export outside its territory, for example, tens of thousands of euros, Foreign exchange law obliges us to notify the customs authorities in writing of this intention. The condition relates to preventing the so-called. Money laundering or terrorist financing.

The sample form in Polish and English can be downloaded, for example, from the website of the Ministry of Finance. The form includes sections on details of the person traveling and carrying cash, the amount, currency, means of transportation, the origin of the money and the intended purpose for its use.

When the traveler fails to comply with the obligation and crosses the border with cash far in excess of the equivalent of PLN 10,000. euro, It should be borne in mind that the money will be held by the customs authorities until the matter is clarified and a penalty is imposed. The level of the fine depends on the laws of each country, but the stakes appear to be high. The fine may be up to half of the illegally transferred amount.

See also: An expensive “souvenir” from the vacation. Authorization up to 3000. Euro

US and UK: Similar limit, just different currency

– When crossing the US border, the cash privacy limit is set at 10,000. Slot. US citizens can carry hundreds of thousands or even millions of dollars with them when moving between states without having to report it to customs. Meanwhile, a European flight, for example, from Warsaw to New York has to declare its intention to carry a similar amount on the customs declaration (FinCEN Form 105). Otherwise, it can hold up to 10,000 cash. dollars, that is, according to Cinkciarz.pl exchange rates, less than 42 thousand. Polish zlotys or about 9 thousand. euros or just over 210 thousand. Czech crowns, notes Robert Błaszczyk of Cinkciarz.pl.

An intention to reach or enter the United Kingdom via the Channel Tunnel with money in excess of the equivalent of £10,000 GBP (about PLN 52,000), as in the case of the European Union or the United States of America, requires notification to the British Customs authorities.

Echo Richards

Echo Richards embodies a personality that is a delightful contradiction: a humble musicaholic who never brags about her expansive knowledge of both classic and contemporary tunes. Infuriatingly modest, one would never know from a mere conversation how deeply entrenched she is in the world of music. This passion seamlessly translates into her problem-solving skills, with Echo often drawing inspiration from melodies and rhythms. A voracious reader, she dives deep into literature, using stories to influence her own hardcore writing. Her spirited advocacy for alcohol isn’t about mere indulgence, but about celebrating life’s poignant moments.

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