Frequent asked questions

Unofficial translation provided for information purposes.

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Who and when are bound to make a declaration of movement of means of payment?

Natural persons, even those acting for the account of a third party, transporting means of payment are bound to make the corresponding declaration. The declaration must be done prior to the movement of the means of payment.

What does means of payment mean?

For the purposes of Law 10/2010 of 28 April on the prevention of money laundering and terrorist financing the following are considered as means of payment:

  • Paper money and coins, domestic or foreign.
  • Bearer cheques denominated in any currency.
  • Any other instrument, including electronic ones, designed to be used as a bearer payment means.

In case of incoming or outgoing cross-border movements, the obligation to declare laid down in this article shall extend to movements for amounts exceeding EUR 10,000 or its equivalent in foreign currency of bearer negotiable instruments, including monetary instruments such as traveller’s cheques, negotiable instruments, including cheques, promissory notes and payment orders whether in bearer form, endorsed without restriction, made out to a fictitious payee or any other form in which ownership thereof is transferred on delivery, and incomplete instruments, including cheques, promissory notes and payment orders that are signed but omit the name of the payee.

How are declarations made?

By filling in form S-1 “Declaración de movimiento de medios de pago”, which, regardless of the type of movement (entry, exit or internal movement), will be unique and valid to perform a single transport operation.

Where can the form for declaring the movement of means of payment (S-1) be found?

The form for declaring is available at the website of Sepblac > Means of payment as well as at those by the General Secretariat of the Treasury and Financial Policy (www.tesoro.es) and by the State Tax Administration Agency (www.aeat.es).

Where must form S-1 be presented?

In general, in the cases of incoming or outgoing cross-border movements of means of payment for an amount of EUR 10,000 or more or its equivalent in foreign currency, declaration shall be presented to the corresponding Customs Services, which will be responsible for stamping and submitting the declaration by electronic means to Sepblac.

Likewise, in the case of movements within national territory of means of payment for an amount of EUR 100,000 or more or its equivalent in foreign currency, the bearer shall submit the declaration prior to the movement of means of payment to the Provincial Branch of Customs and Special Taxes of  the State Tax Administration Agency, which will be responsible for stamping and submitting the declaration by electronic means to Sepblac.

However, the following situations may occur:

  • If the exiting from national territory is to a Member State of the European Union through a border crossing with no permanent Customs Services, the declaration shall be previously submitted to the Provincial Branch of Customs and Special Taxes or Customs Administrations of the State Tax Administration Agency, which will be responsible for stamping and submitting the declaration by electronic means to Sepblac.
  • If the entering into national territory is from a Member State of the European Union through a border crossing with no permanent Customs Services, the declaration shall be previously submitted by electronic means at the State Tax Administration Agency (http://www.aeat.es).
  • Although not being obliged to, credit institutions may receive S-1 forms from their customers before exiting national territory provided that the means of payment are subject to a direct debit, at least partially, to a customer’s account. In the case of movements within national territory, credit institutions may receive S-1 forms before the movement provided the means of payment are subject, at least partially, to a direct debit or subject to payment into a customer’s account. In all these cases, the credit institution will be responsible for stamping and submitting the information regarding the declaration to Sepblac by using the relevant standardized IT means (DMO software).

In any case, it is reminded that the means of payment must be accompanied at any time during their movement by the appropriate completed and stamped declaration.

What does movement of means of payment refer to?

It refers to any change of place or position verified outside the residence of the holder of the payment means.

Are traveller’s cheques considered as means of payment?

Yes, they are because of having been equated as so in article 34 of Law 10/2010 of 28 April on the prevention of money laundering and terrorist financing by means of the expression “any other instrument designed to be used as a bearer payment means”.