Starting in 2027, cash payments over 3,000 euros in Germany will require the identification of the payer, according to a European regulation.

Starting from July 10, 2027, Germany will implement a new rule regarding cash payments, according to EU Regulation 2024/1624, which aims to combat money laundering. This will impose the obligation to identify individuals making cash payments exceeding the amount of 3,000 euros. This measure will affect all commercial transactions, regardless of the field, including the purchase of cars or luxury watches. Merchants and service providers will need to verify the identity of customers, and the relevant data will be recorded.

This formalization will lead to slower transactions, and the collected information will be kept for five years. These changes will affect the way cash payments are made, eliminating anonymity for large amounts.