Once the doubts about how much cash we can withdraw from the ATM without justifying the withdrawal and how much we can circulate or travel with have been resolved, it is time to put ourselves in the opposite situation: is there a limit of money that we can deposit in the bank? The truth is that it is an imposed limit, as such, no. What the Tax Agency does do is control the origin of that money from a certain amount in order to put a stop to underground economies and money laundering.
The maximum amount of money that we can deposit at the counter and without justifying it, as stipulated by law and by the Treasury, is 3,000 euros. From this amount, the Tax Agency may require supporting documents and proof of receipt of the money. That is to say, there is no limit as such or a certain amount that cannot be deposited in the bank, but if it is more than 3,000 euros we must be prepared to be able to explain its origin.
This is the same amount of cash that can be withdrawn at a bank without having to explain. If we want to withdraw more than 3,000 euros, we must go through the window, since the bank is obliged to inform the Treasury of these movements.
How to justify cash receipts to the Treasury
Although the Treasury does not review each and every one of these movements, it will ask us for explanations when income above this amount will become a regular gesture in our bank accounts.
In order to justify this type of income, it will be necessary to have proof of payment, invoices or receipts that allow the Tax Agency to trace the origin of the money. For example, if we have charged for different jobs in cash (remember that the maximum amount that can be paid in cash is 1,000 euros), we must have the invoices and receipts for each operation and that the figures match to be able to demonstrate the payments.
