The limit for cash transactions in Greece is to be reduced again in 2023

The Ministry of Finance is promoting measures to further increase electronic transactions and to deal with another measure of tax evasion in 2023. The measures aim to reduce the use of cash in transactions even further and allow businesses to receive an even greater portion of their daily revenue through card payment machines or other forms of electronic payment.

In particular, the reduction of the limit up to which the use of cash as a payment media is allowed for the realization of a financial transaction concerning the purchase of products or the provision of services is being considered this month.

This limit on paying in cash is expected to be reduced from 500 to 200 euros per transaction. Thus, amounts above the new limit of 200 euros related to the sale of goods or the provision of services to private individuals, should be paid by customers, the buyers of the goods or services, exclusively by electronic means of payment. That is, the use of means of payment by card or other electronic means of payment, bank transfer, payment through a payment account, use of an electronic wallet, etc.