Bank Of Portugal States That 100, 200 And 500 Banknotes Must Be Accepted In All Transactions

LISBON, PORTUGAL - FEBRUARY 19: In this photo illustration five hundred euros banknotes are on display on February 19, 2023, in Lisbon, Portugal. According to the Bank of Portugal (BdP) it is illegal to be asked for identification when trying to make a payment with 100, 200 or 500 euro banknotes. Banco de Portugal indicates in an answer in frequently asked questions on its official website that "procedures of this kind are contrary to the legal tender of the euro banknote and jeopardize the confidence of the public in the banknotes in circulation." Banco de Portugal also clarifies that "as a rule, euro banknotes and coins must be accepted in all transactions, whatever their nature", which means that the "creditor has a duty to accept any type of banknote or coin and, as a general rule, cannot refuse it." In case of refusal or attempt to identify the person trying to pay using euro banknotes BdP indicates that "you should inform Banco de Portugal if you are confronted with situations of this nature". (Photo Illustration by Horacio Villalobos#Corbis/Corbis via Getty Images)