Despite the digitalization of the economy and the growth electronic transactions, Greeks compared to other EU countries. they seem to still prefer cash. However, in recent years our country has seen an impressive growth rate in card transactions and general electronic payments, which are among the highest in the EU.

According to the ECB, card payments account for 33% by number of transactions and 43% by volume. A particularly important element emerging from a recent report from the Bank of Greece is that the average transaction value has fallen, mainly for debit card transactions, to EUR 49 from EUR 50 in 2021.

According to the data, the total number of payment card transactions in 2022 reached 1.930 billion compared to 1.658 billion in 2021, up 16% compared to 2021.

Debit cards are the main substitute for cash, accounting for 92% of the total number of transactions with all types of payment cards. Credit card transactions reached 154 million compared to 135 million in 2021, up 14%. Credit cards accounted for 8% of total transactions.

However, even today, in a number of countries, the majority of payments at the points of purchase of products (shops, etc.) in 2022 continued to be made in cash. The highest shares in terms of the number of such payments were observed in Malta (77%), Slovenia (73%), Austria (70%) and Italy (69%), and in terms of the amount of payments – in Malta (65%). ) ), Lithuania (61%) and Slovenia (59%). Card payments were the most frequently used method for shopping in stores and services in 2022 in four eurozone countries: Finland (70%), the Netherlands (67%), Luxembourg (52%) and Belgium (48%).. In Estonia, the share of card payments was almost the same as the share of cash (both 46%).

Of course, the use of cash is limited from year to year, and the customs authorities have already set limits on the amount of money that can be taken with you on a trip. According to the law every natural person entering or leaving the European Union and transferring cash in the amount of or exceeding EUR 10,000 declares this amount to the competent authorities of the Member States. This means that it can “carry” amounts not exceeding 10,000 euros. In Greece, the control of cash flows has been delegated to the customs authorities.

Liquid assets means:

• · bearer negotiable instruments, including bearer-issued monetary instruments such as traveler’s checks;
• negotiable instruments (including cheques, bills of exchange and money orders) issued to the bearer, endorsed without restriction, issued at the behest of a fictitious holder, or in such a way that possession implies ownership;
• · incomplete securities (including cheques, bills of exchange and money orders) signed but without the payee’s name;
• cash, i.e. banknotes and coins in circulation as a medium of exchange.
• In case of non-compliance or submission of an inaccurate or incomplete declaration, an administrative fine is imposed, payable immediately, in the amount of 25% of the amount of undeclared accompanied or unaccompanied cash.