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CASH TO BE DECLARED

In the 'Cash-control Regulation' (see Article 2 of Regulation (EC) No 1889/2005pdf), cash is defined as:

  • Bearer-negotiable instruments, including monetary instruments in bearer form such as travellers cheques.
  • Negotiable instruments (including cheques, promissory notes and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery.
  • Incomplete instruments (including cheques, promissory notes and money orders) signed, but with the payee's name omitted.
  • Currency, i.e. banknotes and coins that are in circulation as a medium of exchange.

Information on cheques

Article 2 of Regulation (EC) No 1889/2005 refers to cash and monetary instruments whose value can be transferred from one person to another. This covers all financial and monetary instruments whose origin and destination are anonymous or which can be endorsed and transferred successively by several recipients and includes cheques.

Third party cheques i.e. a cheque presented for payment into the account of, or to, a person other than the nominated payee must be declared. Cheques payable to the holder of the bank account, on which this cheque will be drawn, can be traced and in this case there is no obligation to declare.

Information on gold, precious metals and precious stones

Gold, precious metals and precious stones are not covered by the cash control Regulation. These items are covered under customs laws and may be specifically targeted in national legislation.

Information on currency (banknotes and coins)

Banknotes and coins, no matter what material they are made from, that are in circulation as a medium of exchange are included in the definition of cash.

Currency that is no longer valid as means of payment are not considered as cash.

Old coins (collection coins) and bullion coins are not included either.

Banknotes and coins which are not freely convertible, such as Morocco's dirham, are included in the definition of cash.

 Information on casino chips

Casino chips (also known as casino tokens), that serve as monetary instruments in casinos, are not included in the definition of cash.