Regulatory Alerts2023-07-12
Added · Updated
Exchange services using a credit card or debit card
Exchange institutions are permitted to disburse foreign currency amounts at the counter upon presentation of a credit or debit card. For transactions exceeding EUR 2,000, institutions must establish and verify customer identity using a valid identity document and confirm that the cardholder's name matches the identity document. Institutions must also perform these verification steps for transactions below EUR 2,000 if red flags, such as suspected money laundering or terrorist financing, are present.