Cash withdrawal and deposit
There are no restrictions on the use of cash when dealing with your bank. However, there are some issues to bear in mind.
Can I withdraw or deposit any amount of cash from/in my account?
- Your bank must provide the amount requested up to the balance available in your account. However, to withdraw a large sum of money, your bank may ask you to give notice in case there is not enough cash available to meet your request.
- If you wish to deposit a large amount of cash, the bank may postpone counting the money. In this case it receives the money “subject to payment”, and will count and confirm the amount later, before depositing it in your account.
When is the money deposited in my account available?
The money is available as soon as it has been deposited.
- If the account holder is a company, it will depend on the conditions agreed in the contract. In any case, the money must be available on the first working day after the funds are deposited.
- Your bank may request identification when depositing money. Identification will always be requested if you deposit an amount of €1,000 or more.
Find out more about identification requirements at Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences.
Depositing cash into the account of a third party. If no additional service is requested, the bank must not charge any fee for this service. Identifying the depositor in the receipt is not considered an additional service.
- Banks may not restrict the hours or dates when deposits or payments can be made into their customers’ accounts, unless otherwise agreed.
Find out more about cash withdrawals and deposits in our 2017 Complaints Report (in Spanish) (109 KB)
FREQUENTLY ASKED QUESTIONS
Can my bank require cash to be withdrawn from a cash machine (ATM) instead of over the counter?Read answerabout
Can my bank require cash to be withdrawn from a cash machine (ATM) instead of over the counter?
Can I withdraw cash at a branch other than where my account is held?Read answerabout
Can I withdraw cash at a branch other than where my account is held?