
Last year Spain bought in a law making it illegal to make a payment in cash for anything over the value of 2500 euros in a bid to combat tax evasion. Cash payments are generally referred to as "black money" here in Spain and pretty widespread. It is not at all unusual to hear of stories of people selling property and turning up at the notary with pockets stuffed with cash, normally the said 500 euro note as part of the transaction - this was so much more difficult when the peseta was in existence as you needed carrier bags to carry enough of them!
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ATM´s widely available |