The money ban is coming: when. What are the limits now – ATMs, business transactions, entrepreneurs and consumers

Money problems are growing. Not long ago, there were almost no rows of ATMs – each bank had its own. Now, if you have an account even in the most popular Polish bank, PKO BP, long trips are required to withdraw – ATMs disappear one by one. And there is a large commission for withdrawing money from a Euronet ATM or another network. In addition, you cannot download as much as you want – the operator charges 3%. commission, from PLN 500 to PLN 15 and limit withdrawal. You don’t want to make money?
Poles do not want to give up money. Money is needed even as a reserve in case of war, flood or other unexpected events. For many people, money is an element of a sense of freedom. At the same time, the authorities want a complete ban on money because they want all financial activities under control – but money transactions cannot be fully controlled.
The ban on currency, which did not happen in Poland due to two changes to laws, will come formally as a result of directives from the European Union. However, before this happens, it will be more difficult to withdraw money and pay with it from a practical point of view.

ATM cash restrictions are a start

The inevitable end of money was supposed to start on January 1, 2024. In the end, since the date was postponed anyway, the rules adopted as part of the Polish Order had time to it’s called getting involved. It did not happen because, after a subsequent wave of pressure, the Law and Justice government suspended the regulations restricting cash transactions.
However, the issue of money laundering has returned as a result of EU legislation. On April 24, 2024, the European Parliament adopted it package of rules, part of which is a complete ban on cash transactions exceeding PLN 10,000. euro and includes management and control of transactions above PLN 3,000. euro.

What is new is the inclusion of private conversion parameters. Until now, money transaction limits in Poland only applied to business transactions. People doing private business – even buying a car for several dozen thousand zlotys or an apartment for a million – as long as the parties to the contract could do as they wish, and until the rules are formally changed , they can still use a stack of paper banknotes. In private transactions, money is still allowed without restrictions.
After introduction of money ban, things will be different. even buying a more expensive smartphoneTV or washing machine will control, especially if the user pays for the transaction with physical money, and not by transfer, credit card, BLIK or using delayed payments.

ATMs: increasingly lower withdrawal limits, even if your account is not short of funds

Basically, from a legal point of view, there is currently only one limit for cash payments in Poland – PLN 15,000. PLN and applies to entrepreneurs. The law on business operations requires them to carry out transactions of greater value through transfer.
In practice, however, we encounter z andother parameters. The most common are ATM withdrawals.

Until recently, the limit for withdrawing from ATMs was set by the person who had the money in the bank account himself, and it was done mainly for security reasons, so that it would not be possible if Losing the payment card. withdraw all funds from the account by using it.
This is usually a daily limit which, in the era of digital banking, can be freely modulated and changed remotely even within a few hours.
Now, however, they have introduced their withdrawal limits ATM Owners. In most such machines in Poland, you cannot withdraw money in an amount higher than 800 or 1,000 PLN.
If someone needs more money, they have to go to the bank, and there are more and more commissions for withdrawing money, even from your own account – sometimes up to 5%. amount paid.

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Prohibition of money in circulation: what are the current limits

Even some sellers they no longer want money from the customerwhich is against the law, as the Office for Consumer Protection and Competition had to remind us recently when a customer in a fast food chain refused to pay in cash, citing a problem by providing change.

The same applies to couriers who deliver ordered food or parcels with the option of paying on delivery – for security reasons, they have some cash in hand to give change, and therefore the recipient is expected to prepare the payment in the exact amount.
There are more and more problems in using money on a daily basis. Although even entrepreneurs protest against the introduction of a ban on payment in cash, in practice only those who want to hide at least part of their turnover from the tax office, eg food suppliers, requesting it. Theoretically they should together with the delivery, issue a cash register receipt to the customer, which was printed just before the shipment was released for delivery, but in many cases, if the recipient does not request it, the receipt can be used again, without selling other sales at the cash register.

Cash ban: are there only benefits to cashless transactions?

In business, especially small ones, agent or agent for money transactions will be made using BLIK. These are formal non-monetary transactions, but managed as money. Access to the funds in the account required for transactions without the need for a payment card – physical or virtual. All you need is a phone and an application. You can transfer a certain amount without entering the bank account number – just the recipient’s phone number is enough.
BLIK is currently a much more popular and widespread payment method than bank cards. Almost everyone has a phone and they use the BLIK app almost all of them, even micro-entrepreneursand also in private transactions, a recipient of money who does not have the BLIK application can install it immediately.
All this means that, from a practical point of view, the money ban does not have to make our lives complicated.