ENTERING OR LEAVING THE EUROPEAN UNION
In principle, you can have as much cash on you as you want. However, be aware that as a traveler entering or leaving the EU with 10,000 euros or more in cash, you must declare them to customs. The purpose of this measure is to make illegal activities such as money laundering more difficult.
Under European Union rules, cash is defined as:
– euro banknotes and coins and the equivalent in other currencies (including currencies which are no longer in circulation but which can still be exchanged at a bank);
– bearer negotiable instruments such as checks and traveller’s cheques, promissory notes or money orders signed but without a designated beneficiary;
– coins containing at least 90% gold;
– non-monetized metal such as ingots, nuggets or other native gold agglomerates containing at least 99.5% gold
TRAVELING WITHIN THE EUROPEAN UNION
If you are traveling with a sum of 10,000 euros or more while staying in the EU, you do not need to make a spontaneous declaration. You should only declare your cash when requested by customs authorities. However, this reporting obligation only concerns cash and bearer negotiable instruments. Gold
It is important to note that even if you do not intend to exceed this limit of 10,000 euros, you could be questioned by customs authorities if you are carrying a large amount of cash. It is therefore recommended to carry a reasonable sum and not to raise unnecessary suspicion.
HOW TO MAKE A STATEMENT?
In principle, you must make a declaration at the customs post at the airport (or at the border if you are traveling by car). You must also indicate the origin of the funds and the persons for whom they are intended. Make sure you have a plausible explanation and bring supporting documents.
YOU DIDN’T SAY ANYTHING…
At this point you risk having your money seized if you do not report properly and you are ‘caught’. Be careful, this can even go as far as a criminal sanction.
So, before you go on a trip, check if there are any specific rules specific to the country you are visiting regarding the amount of cash you are allowed to “bring in”. Respect these rules scrupulously. Be aware that to catch unscrupulous travellers, sniffer dogs are sometimes used. Thanks to their infallible flair, they manage to spot people who have a lot of banknotes on them. Bring a good deodorant!
TIPS AND TRICKS
Besides the customs declaration, it is also important to think about the safety of your cash during your trip. Here are 10 practical tips to follow to help you reduce risk when traveling with a large sum of money:
– It is not recommended to carry cash in checked baggage , as it is often subject to security checks and can be lost or stolen. Always keep your cash with you in the cabin.
– Carry only the cash you need : Transfer cash you don’t need to a local bank account as soon as possible and use credit cards, traveller’s checks or bank transfers to make payments instead. payments. Spread out your cash in different places: It’s best not to keep all your cash in one place, as this can increase the risk of theft or loss. Distribute your money in different secure places, such as in a purse, in an inside pocket of your jacket or in a belt pouch under your clothes If possible, keep your money at the hoteland only carry it with you when you need it. Make sure your hotel room is sufficiently secure and your money is safely hidden away. If your hotel room has a safe , feel free to store your cash, jewelry, and valuables there.
– Use means of concealment : There are products specially designed to conceal cash, such as belts, travel pouches and backpacks with hidden pockets. You can also use anti-theft bags which are equipped with hidden zippers and security straps to prevent pickpocketing.
– Avoid showing your money : Do not take out your cash in public. Avoid drawing attention to yourself and your money by showing how much money you have.
-Be careful of your belongings and your surroundings when carrying cash. Don’t leave your money unattended and be aware of pickpockets and scams. Also avoid carrying large sums of money at night or in secluded places.
-Be vigilant on public transport , especially on crowded trains and buses. Keep your cash and valuables close to you.
– Split your money into several currencies : If you are traveling to several countries, it is a good idea to split your cash into several currencies to avoid excessive exchange fees and the risks associated with converting a large sum of money.
– Be careful when using ATMs , especially at night. Make sure no one is watching you and protect your PIN code when entering your information.
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