Cash

Real estate purchases with cash are back, according to a new circular from AADE. The measure applies to transfers made from 11 December 2023 onwards, the date on which the complete ban on the use of cash to pay a price when drawing up notarial deeds came into force.

Cyprus lawmakers have taken a significant step in tackling money laundering and illegal activities by approving a proposal to limit large cash transactions. The law, passed with 24 votes in favor and two against, amends the current Law on the Prevention and Combating of Money Laundering.

Even if a Greek is just having a quick coffee, they'll usually leave a few coins next to the cup. Especially if it's a regular spot where they know the server by name, they'd feel uncomfortable leaving without tipping. Until recently, most customer tips - usually in cash - would be pooled together and shared among the servers at the end of the shift.

With the price of gold surpassing all previous records, the “traditional” investment in gold sovereigns, which many Greeks favor, has become increasingly profitable, as evidenced by the surge in transactions involving them.

From the start of the year until the end of September, a total of 35,972 gold sovereigns were liquidated at the Bank of Greece, while 4,662 pieces were purchased.

The most popular means of payment in Greece is cards, as in the last 12 months consumers who relied on card payments outnumbered those who chose cash payments.

This stems from a survey by Payments Europe - the "voice" of the card payment industry in Europe - regarding the payment landscape in Greece.

A robbery targeting employees of a private cash delivery company took place just before 4 PM in Lavrio.

As of Thursday, August 1, food service enterprises will be obliged to use machines to issue receipts, such as a registered till or tax receipt printer.

The measure means that the still widespread custom of using handwritten receipts or order slips will not do anymore. 

Why is the digital transformation of the economy necessary and when will we see the end of cash?

Card payments tend to make us spend more money compared to cash payments, according to a new study. This phenomenon is attributed to the physical representation of money in the form of banknotes, which makes us more mindful of our budget when we pay with cash.

More than 1,000 enterprises risk high fines that reach up to 20,000 euros each, now, or even more in the future, for failing to comply with regulations on connecting card terminals (POS) with their cash registers.