EU caps commercial cash payments at 10,000 euros to curb money laundering

Monday, 18 May 2026/Source: CretaOne/1 min read

The European Union is introducing a new regulation that caps cash payments at 10,000 euros for commercial transactions across all member states, including Greece and Crete. The rule targets large purchases to combat money laundering and tax evasion. For most tourists visiting Crete, day-to-day spending is unaffected, as typical expenses such as accommodation, restaurants, car rentals, and tours fall well below this threshold. However, visitors planning significant purchases, such as high-value jewelry, antiques, or property-related deposits, should be aware that payments above 10,000 euros must be made by card or bank transfer. Merchants in Crete are required to comply once the regulation takes effect. Carrying a debit or credit card is already standard practice for most travelers, so this change is unlikely to disrupt a typical holiday experience.