As part of the measures to combat money laundering and the financing of terrorism, Portuguese legislation sets specific limits for cash payments. It is essential that all economic agents are aware of these restrictions to ensure compliance with legal obligations.

Cash Payments:

• Residents Individuals: It is prohibited to make or receive cash payments of amounts equal to or greater than €3,000. 

• Non-Residents Individuals: For non-residents who do not act as business owners or merchants, the limit is €10,000. 

• IRS or IRC Taxpayers with Organized Accounting: In these cases, payments for invoices or equivalent documents with a value equal to or greater than €1,000 must be made using means that allow the identification of the recipient, such as bank transfer, nominative cheque, or direct debit. 

Article 63.º-E of the General Tax Law (LGT)

Online Payments:

Portuguese legislation does not impose a specific maximum limit for online payments. However, it is important to consider:

• Limits Defined by Financial Institutions: Financial institutions may set daily or per transaction limits for online operations, including bank transfers and card payments. These limits vary according to the policies of each bank and the client's account type. 

• Transaction Security: Regardless of the amount, it is essential to ensure that online payments are made through secure platforms that comply with established security standards, such as strong customer authentication.

Recommendations:

• Check Limits with Your Bank: Consult your financial institution to understand the limits applicable to your online transactions and, if necessary, request adjustments that suit your needs.
• Use Secure Payment Methods: For large amounts, prioritize payment methods that allow traceability and identification of the parties involved, such as bank transfers or nominative cheques.

Stay Informed: 

Stay alert to any legislative changes or bank policies that may affect payment limits. Best regards,