From 10 July 2027, new EU-wide regulations for cash transactions will come into effect in Austria. These regulations will also apply to the buying and selling of precious metals.
What will change for you?
Cash payment limit of €10,000: Cash payments exceeding €10,000 will no longer be permitted. This applies to both the purchase and sale of precious metals.
Identification required from €3,000: In future, we will be required to verify and document your identity for cash transactions of €3,000 or more. Previously, this threshold was €10,000.
Transactions over €10,000: Transactions exceeding €10,000 can, of course, still be carried out using an approved cashless payment method.
Important: Cash is not being abolished! The new regulations simply introduce legal limits for commercial cash transactions.
Invest now
Put your plans into action now and turn your ambitions into a smart investment while there is still time. If you are planning a larger purchase and would like to pay in cash, make the most of the time before the new EU cash payment regulations take effect on 10 July 2027. Our team will be happy to provide you with personalised advice.
Frequently Asked Questions About the new EU anti-money laundering rules
From 10 July 2027, new EU-wide regulations for cash transactions will come into effect. Cash payments will be limited to €10,000. In addition, we will be required to verify your identity for cash transactions of €3,000 or more.
Yes, you can continue to purchase gold, silver and other precious metals with cash at philoro. You simply need to comply with the new legal limits on cash payments.
From 10 July 2027, identity verification will be required for cash transactions of €3,000 or more. Please bring a valid government-issued photo ID with you.
Yes. You can still purchase precious metals worth more than €10,000. However, payment must be made using an approved cashless payment method, such as a bank transfer or debit card.
Yes. The new cash payment limit also applies when selling precious metals to philoro. For higher amounts, payment can be made by bank transfer, for example.
No. The legal cash payment limit cannot be circumvented by splitting a single transaction into several smaller payments.
No. Cash will remain legal tender. The new regulations only limit the amount that can be paid in cash for certain commercial transactions.