Spain limits ATM withdrawals to 3,000 EUR per day

[avalanche]

Source: Spain limits withdrawals to 3,000 EUR per day.

Is it just a next step in building the cashless society or an attempt to mitigate upcoming EU bank run?

 

[troubled soul]

If this limit is lifted, some people will launder the whole world though ATM card

 

[RealDude]

Who still uses ATMs these days? The credit card costs for domestic/foreign payments are usually covered by the banks, while the excessive ATM withdrawal fees are borne by the customer.

 

[legrant]

It isn't a new limit, it's been 3000 Eur for a long long time. What has changed is the fact that if you withdraw 1000-3000 Eur, you will have to justify why to your bank, which previously wasn't required. And amounts over 3000 Eur will be automatically notified to taxmen, but this has also been like this for a long time. Note this isn't just for ATM's, it applies to any way you withdraw cash from your bank, so either ATM or going to a branch and withdrawing it.

Who still uses ATMs these days? The credit card costs for domestic/foreign payments are usually covered by the banks, while the excessive ATM withdrawal fees are borne by the customer.

Not all ATM's have fees