• The Denaria platform, an organisation dedicated to the defence of cash, today held a conference in the Congress of Deputies to highlight the importance of cash in our country and the obstacles and problems that currently exist for using it, despite the fact that its use is guaranteed by law.

• Javier Rupérez, president of the organisation, denounced ‘the existence of contradictory regulations that limit the use of cash, negatively affecting citizens and the economic stability of the country on the day’.

These words were spoken at the conference ‘Financial inclusion in Spain: Cash as a safe and sustainable solution’, which included round tables with representatives of parliamentary groups, associations and the public sector.

Denaria, thus, has exposed several problems for the use of cash in our country: ‘The cash payment limit of 1,000 euros in Spain, significantly lower than the reference of 10,000 euros established in the recent Directive on the Prevention of Money Laundering approved by the European Parliament; the restrictions on the payment of rent according to Law 12/2023; or discrimination in tax deductions when paying in cash. ‘Despite the fact that existing legislation requires cash payments to be accepted, Denaria pointed out that, in practice, obstacles continue to be imposed on its use, especially by public institutions, as evidenced by the data received in the platform's complaints channel’, added the platform.

‘While in Europe the importance of cash is recognised, in Spain restrictions are imposed without clear justification’, said Rupérez. The organisation's president also pointed out that the lack of harmonisation in the regulations on cash payments within the European Union creates an unequal situation. ‘Of the 14 countries in the European Union where there are no limits on cash payments, in Spain, among others, the restriction of 1,000 euros makes everyday transactions difficult and puts certain economic sectors at a disadvantage,’ said the platform. That is why Rupérez has called for a review of the regulations limiting cash payments.

Likewise, one of the central points of the conference was the relevance of cash in the context of national security, related to the fact that recent studies highlight that Spain is one of the countries with the greatest exposure to financial cyber-attacks. ‘The dependence on digital payments makes us vulnerable. A failure in the system can paralyse the economy, while cash is immune to cyber-attacks and guarantees the financial autonomy of citizens,’ said Rupérez.

Related to this, the association has called on the government and European institutions to adopt measures to protect the right to use cash and to promote a fair and secure financial policy.

Fuente: ABC