MADRID – In an era of an increasing number of digital payments, cash remains a popular payment method among Spanish citizens. Every bank in Spain has a maximum amount for cash withdrawals that customers can withdraw from ATMs per day.
These limits are not only a matter of banking policy but are also regulated by the Spanish tax authority, Hacienda, which allows a maximum withdrawal of €3,000.
The role of Hacienda and the banks
Hacienda allows a maximum withdrawal of €3,000 via ATMs. If you wish to withdraw more than this amount in cash, you must provide official proof available from your bank. This transaction is then automatically reported to the Banco de España and to the Agencia Tributaria to ensure financial transparency.
Also read: Spanish Bank gives advises on cash reserves
Safety and availability
Banks also set their own limits as a security measure and to prevent ATMs from constantly running out of money. The limit may vary depending on the customer, account type and other factors determined by the bank.
The different limits per bank
Below is an overview of the withdrawal limits per bank, published by the newspaper Ideal:
- Abanca: €1,000 per transaction / €2,000 per day
- Banco Sabadell: €600 per day
- Banco Santander: €3,000 per day
- Bankinter: €1,000 per day
- BBVA: €2,000 per day
- CaixaBank: €1,200 per transaction
- EVO Banco: €2,000 per day
- Ibercaja: €1,000 per day
- ING: €2,500 per day
- Open bank: €1,200 per day
- Triodos Bank: €600 per day
- Unicaja: €500 per day
- Kutxabank: €1,000 per day
What does this mean to you?
It is important for customers to be aware of the limits imposed by their banks, especially if they plan to withdraw larger amounts of cash. In an emergency or for larger purchases, it may be necessary to make advance arrangements with your bank to withdraw larger amounts. As always, it is advisable to contact your bank directly for the most up-to-date information on withdrawal limits and any exceptions to the rule.
A step towards transparency
These limits, although sometimes restrictive, contribute to greater financial transparency in Spain. They help trace large financial transactions and prevent financial crimes such as money laundering or other forms of tax evasion.