Before crossing the external border of the European Union, you must declare any cash amounting to 10,000 euros or the equivalent in other currencies, both upon entry and exit.
Anyone who is in possession of cash subject to declaration – that is, anyone who has the cash with them.
There is no upper limit, but cash or the equivalent in other currencies amounting to 10,000 euros must always be declared.
- Banknotes and coins (including those that are no longer in general circulation as a means of exchange but can still be exchanged at a financial institution or central bank),
- checks, traveler's checks, promissory notes or payment orders without a named payee,
- prepaid cards not linked to a bank account that can store funds and be used to make payments, purchase goods or services, or be used for currency exchange,
- coins and gold bars with a gold content of at least 90 percent, such as gold bars, gold nuggets, or gold particles with a gold content of at least 99.5 percent.
- If I have foreign banknotes that have expired and are no longer valid, do I still have to include them in the 10,000 euro limit?
Yes, if they can still be exchanged. Banknotes and coins that are no longer in general circulation as a medium of exchange but can still be officially exchanged at a financial institution or the issuing central bank are also considered cash.
Yes, if they can still be exchanged. Banknotes and coins that are no longer in general circulation as a medium of exchange but can still be officially exchanged at a financial institution or the issuing central bank are also considered cash.
Yes. You must complete a written declaration on the appropriate form at the customs office where you enter or leave the European Union. The declaration form can be downloaded here: https://op.europa.eu/en/publication-detail/-/publication/2736e514-b31b-11eb-8aca-01aa75ed71a1/language-en.
The cash and the declaration shall be presented to the National Tax and Customs Administration (NTCA) for inspection.
The NTCA may impose an administrative fine or withhold the cash.
Yes, the declaration must be made to the customs authorities—or other competent authorities—of the country where the traveler enters or leaves the European Union.
In some European Union member states, the requirements for inspections and declarations vary. It is advisable to obtain information about this from the diplomatic missions of the relevant countries in Hungary before traveling.