More and more people want to keep cash at home, according to the Banque de France, the amount of cash held by French households will be between 50 and 100 billion euros in 2023.

Remember to declare the money received from an inheritance for tax purposes.

10,000 euros is the maximum amount of money you can hoard at home. It is necessary to be able to justify its origin in the event of control, and this money must also in certain cases be declared. Be careful, if you exceed this amount, justice can sometimes consider that your cash is the result of money laundering, or even black work. You may therefore be liable to legal proceedings and a fine of up to 50% of the amount held.

Cash at home: what risks?

If by misfortune you are the victim of a burglary and your cash is stolen, it cannot be reimbursed because unfortunately, even with a declaration in hand, the cash you keep at home is not compensated by the insurance.

On top of that, with the inflation we are experiencing, your money will lose value if you keep it at home. It is therefore more interesting to put it in the bank and place it in a savings account such as the Livret A, which will experience an increase in its rate, from 3% to 4% soon.

What are the restrictions for paying in cash?

While the payment in cash between two professionals or between an individual and a professional is capped at 1,000 euros (the ceiling can go up to a maximum of 15,000 euros depending on the situation if the tax domicile of the debtor is located abroad and that the expenditure made is personal), the payment in cash between individuals is not capped. If the transaction is greater than 1500 euros, it is still imperative to declare it in writing, mentioning: the date, the object of the transaction, its price, its payment in cash, as well as the name of the sellers and buyers). This will constitute proof to be kept carefully in your papers. (art. L 112-6 of the Monetary and Financial Code).