“There are no specific limits on amounts when it comes to keeping money at home”.
According to Prosegur, Spain’s leading security group, “there is no law under current legislation that makes it a crime to keep money at home. In fact, the Tax Agency itself states that there is no specific limit on the amount of money that can be kept at home, and the rules are limited to setting a ceiling of €1,000 for cash transactions if either of the two parties involved is acting in a business or professional capacity”.
The ideal way to keep money at home is to keep it in a safe place. Safes or other security devices are definitely one of the preferred options for this. Of course, there are still those who keep them under the mattress. In the old days, the “safe” way of storing money was.
Here’s how you should keep your money at home
“If you wrap your money in cling film and keep it anywhere, after a short time it changes colour, gets wet and loses all its value,” begins Carlos Quílez, a journalist specialising in crime and security, in one of his speeches on ‘Y Ahora Sonsoles’, a programme with which he has been a contributor since 2022. The expert also assures us that those who really know recommend that the money be vacuum-packed so that it is very difficult to spoil and very easy to store.
In addition, Quílez points out that although the police recommend keeping safes in the home, experts warn that they should be used as bait for thieves. In other words, to make them think that this is where all the money and valuables are kept, when in fact they are kept in other parts of the house .
If you don’t have a safe, experts recommend splitting up the hiding places and not keeping all your money in the same place.
Prosegur points out that “the best way to keep your valuables and foreign currency out of the hands of others is to keep them in separate places, dividing the total amount stored into small amounts that are not easily identifiable or predictable”.
“The more inventive, the better these stashes will be: hiding banknotes wrapped in a pen, resorting to unexpected places such as the bathroom or the kitchen, or even inventing old tricks by swapping the inside of a mattress for other places, such as dining room or computer chairs. Ultimately, the limit of ideas is infinite, and the bigger the idea, the safer you are from unwanted friends,” they add.
