TMCs Warn Clients Of New EU Rules On Cash

The 10,000 Euro threshold is a high enough figure for most travelers but the rules also cover checks, bonds and shares.

Mike Platt, HRG group industry affairs director said: "This has been something of a sleeping regulation which has been on the agenda for some time, but the announcement of its implementation in just two and a half weeks' time will have taken many by surprise. As a priority we have already communicated this important news to our clients.

"While we applaud any measures to combat illegal practices and fight crime, we are also concerned with the potential constraints such regulations might place on those undertaking legitimate business.

"The June 15 implementation date does not give business travelers much time to react to these changes and make contingency plans to allow for continuity which would prevent any damage to commerce."


TMCs Warn Clients Of New EU Rules On Cash (Continued) The 10,000 Euro threshold is a high enough figure for most travelers but the rules also cover checks, bonds and shares. Mike Platt, HRG group industry affairs director said: "This has been something of a sleeping regulation which has been on the agenda for some time, but the announcement of its implementation in just two and a half weeks' time will have taken many by surprise. As a priority we have already communicated this important news to our clients. "While we applaud any measures to combat illegal practices and fight crime, we are also concerned with the potential constraints such regulations might place on those undertaking legitimate business. "The June 15 implementation date does not give business travelers much time to react to these changes and make contingency plans to allow for continuity which would prevent any damage to commerce."