In the future, bank customers will have to present proof of origin for the entire amount paid in for cash deposits of over 10,000 euros on their bank account.
The financial services supervisory authority (Bafin) will prescribe this from August in its application notes on the Money Laundering Act, as the Deutsche Kreditwirtschaft (DK) explained on Monday.
Commercial customers are "usually" not affected by the new measures.
The regulation for private customers also applies to multiple deposits if the total amount exceeds the limit of 10,000 euros, as the DK announced.
For other cash transactions, such as the purchase of precious metals or currency exchange, the obligation to provide evidence therefore applies from 2500 euros if the relevant transactions are not carried out at the house bank.
If a customer is unable to provide evidence in such a transaction, the bank must refuse the transaction.
According to Bafin, current bank statements that prove a cash payment from another account are considered suitable documents.
Sales and invoices, receipts and certificates of inheritance or donation contracts can also serve as evidence.