Several banking experts advise keeping money at home. But what does the law say, is there a ceiling not to be exceeded?
Should we keep cash at home? The question is not trivial. Faced with the fear of Russian cyber attacks on banking systems, having liquid in case the electronic payments are blocked at least can buy its basic needs for a few days. Indeed, if internet and electric networks were to be cut following computer attacks, card or mobile regulations would become difficult, even impossible in the worst scenario. In the event of a prolonged bug, the tails could also be numerous in front of the banking agencies …
Several European countries such as the Netherlands, Norway and Sweden had already called their citizens at the end of 2024 to keep the “rescue” liquid at their home. The Dutch banking association (NVB) has also advised the population to have cash available at home due to increased geopolitical threats. The “Russian threat” expressed by Emmanuel Macron on March 5 would not result in the Ukrainian battlefield …
But in France, what does the legislation concerning the holding of species at home? The law does not actually set a precise limit to the amount that can be kept at home, provided, however, to be able to justify the provenance. If the funds are scrupulously declared to the taxman, there is no ceiling. Otherwise, the tax administration generally applies a tolerance of 10,000 euros. Beyond this amount, justice can presume tax fraud or money laundering.
This tolerance is not absolute and depends on various factors such as household income or the presence at home of other objects of value, gold or jewelry …. A treasure of more than 10,000 euros in a person with low resources will be much more suspicious than in a wealthy household, thus noted an expert at TF1 Info in 2023. Another point to note: if you move with tens of thousands of euros in In case of control!
Be careful, keeping large sums at home is not without risk. In addition to the legal limits, in particular, care must be taken to keep the proof of withdrawal. Not to mention obviously the risk of being robbed and losing your precious woolen stockings … In the event of a crisis or breakdown of the networks, having a few hundred euros in cash at home is therefore a wise precaution. But for more substantial sums, it is better to abstain or at least declare them to avoid any concern.