Ban on cash payments of €3,000 or more, effective January 1

Starting January 1, 2026, there will be an important change if you want to sell scrap metal. The government is introducing a ban on cash payments for transactions of €3,000 or more. For Krommenhoek Metals, this means we will only be able to pay out large amounts digitally. What exactly does this new rule entail, and how will it affect you? We’re happy to explain it clearly.

Why is this ban in place?

The government wants to tackle crime. Paying with cash makes it easier for criminals to launder illicit funds. Setting a strict limit of €3,000 will make this much more difficult. Cash is simply untraceable, whereas digital payments leave a clear trail.

There are even more benefits. Businesses face less risk when holding large amounts of cash. It also reduces administrative work. Previously, merchants were required to conduct complex due diligence on their customers for payments exceeding €10,000. Since cash payments for such amounts are now prohibited, that requirement simply no longer applies.

When does this ban take effect?

The new ban on cash payments takes effect on January 1, 2026. Until that date, you may still pay large amounts in cash. This gives companies in the metal trade time to adapt their systems. At Krommenhoek Metals, we’re already preparing to help you with digital payments once the ban takes effect.

Please note: Amounts up to and including €2,999.99 may still be paid in cash. Only for amounts of exactly €3,000 or more is payment in cash no longer permitted. Trying to get around this by splitting a large payment into smaller parts? That’s not allowed either. The law refers to this as “composite transactions,” and they are also covered by the ban.

What does this ban mean for Krommenhoek Metals?

As a scrap metal dealer, we are directly subject to these regulations. If you bring us scrap metal worth €3,000 or more, we can no longer pay you that amount in cash. The payment must then be made digitally via a bank transfer to your account.

This applies to both individual and business customers. For example, if you bring in a large shipment of copper or aluminum, you’ll receive payment directly into your bank account. This method is safer for both you and us. Violating this prohibition is a criminal offense and falls under the category of economic crimes. That’s why we take this rule seriously.

So what are the alternatives?

Digital payments aren't complicated at all. For amounts of €3,000 or more, we'll transfer the money to your bank account. You'll simply receive an invoice or receipt, and the amount will usually be in your account within one business day. For smaller amounts, you can also pay by debit card at our locations.

Nothing will change for transactions under €3,000. You can still pay in cash if you wish. Cash remains legal tender for these smaller amounts.

Turn in your scrap metal at Krommenhoek Metals today

At Krommenhoek Metals, you’re always working with a reliable partner who operates professionally and in accordance with the rules. We comply with all legal requirements and ensure that you can drop off your metal safely and properly.