EUROPA - Press Releases - Q&A on the proposal for an EU Regulation to facilitate professional cross-border transportation of euro cash by road between euro-area Member States

EUROPA - Press Releases - Q&A on the proposal for an EU Regulation to facilitate professional cross-border transportation of euro cash by road between euro-area Member States

(...) 1. What is the problem?
Professional cash transportation is generally carried out by dedicated cash-in-transit (CIT) companies, but the national regulations governing this sector are very different from Member State to Member State. 

Regulatory differences concern a wide range of issues such as the possession and carrying of firearms by the CIT-staff, armouring and equipment of the CIT-vehicles, number of staff in the vehicles, training requirements, the use of intelligent banknote neutralisation systems (IBNS), information towards the police, licence rules and penalties etc.

Due to the strong differences between the relevant national legislations it is generally very difficult to transport euro banknotes and coins between euro-area Member States on a professional basis and very little cross-border land transportation therefore takes place.

That euro banknotes and coins cannot circulate and be transported, in most cases, across national borders within the euro area is, however, contrary to the logic of monetary union and prevent cash handlers in border regions from taking full advantage of the single currency.(...)