WHAT WAS CLAIMED
Spanish bank customers must give 24 hours' notice if they want to withdraw more than 3000 euros.
OUR VERDICT
False. There is no obligation to give advance notice.
AAP FACTCHECK - Spanish bank account holders won't risk a fine if they take out large sums of cash without explanation, contrary to a claim on social media that withdrawals of more than 3000 euros (about $A5300) require 24 hours' notice.
The false claim misinterprets a Spanish law that says banks must notify the Tax Agency about certain transactions. This does not apply to individual citizens.
The claim appears in a Facebook post from May 12, 2025, with a caption reading: "Unfortunately this is real. Inflation is followed by taxation which [sic] followed by confiscation which is followed by collapse and chaos."
"NOTICE OF CASH WITHDRAWAL," the graphic in the post reads.
"If you wish to withdraw more than 3000 [euros] in cash, you must notify the Tax Agency at least 24 hours in advance of the withdrawal. You must also specify the purpose of the withdrawal.
"Failure to comply with this requirement may result in fines of up to 150,000 [euros]."
The claim is currently being spread by multiple Australian social media users.
Spain's Tax Agency confirmed to AAP FactCheck that individuals do not have to notify their bank prior to withdrawing more than 3000 euros.
"It's completely false that the Tax Agency requests advance notice of withdrawals," a spokesperson said.
"Nor do citizens have to notify us afterward."
Spanish law, however, says that banks must flag movements of cash above this amount to the Tax Agency.
Article four of Order EHA/98/2010 states that credit institutions must submit an annual report providing details about cash withdrawals, payments or deposits of more than 3000 euros.
The legislation establishes an obligation for banks, not for citizens, the tax agency spokesperson said.
While there is no legal limit, most Spanish banks cap a customer's daily ATM withdrawals at 3000 euros, so individuals must visit a bank branch to complete a larger transaction.
For example, CaixaBank states on its website that customers seeking to withdraw more than 3000 euros must speak to an employee, as a measure to combat tax fraud and money laundering.
The 150,000-euro fine mentioned in the Facebook post appears to misinterpret a separate law.
Article 56 of Law10/2010 sets 150,000 euros as the minimum fine for "very serious violations" of money laundering and terrorist financing regulations (page 47).
It does not apply to individuals simply withdrawing funds.
The claim has also been debunked by Reuters and Full Fact.
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