21–30 of 43 posts
Here we go, the war on cash begins...
begins? where have you been? the big push to debit cards and gradually making procurement of any reasonable quantity of cash (especially given inflation these days) almost impossible has been going on for ages.
It's nice to see they recorded the denomination of each bill. Too bad the article didn't go into further detail in its summarization. The abstract[0] says $1 and $100 denominations were less likely to test positive. The latter is curious. Perhaps it's because lower denominations are more likely to be used by street dealers, or that $20 bills make up the majority of triple-digit ATM transactions. It's worth noting tha…
Earlier quoted context omitted.
begins? where have you been? the big push to debit cards and gradually making procurement of any reasonable quantity of cash (especially given inflation these days) almost impossible has been going on for ages.
I really don't understand this. What's a reasonable amount? I withdrew $2500 in cash from my bank last week. No questions other than "how would you like that?" and "would you like an envelope?"
Earlier quoted context omitted.
I really don't understand this. What's a reasonable amount? I withdrew $2500 in cash from my bank last week. No questions other than "how would you like that?" and "would you like an envelope?"
Well, let's see... Living in San Francisco. If you paid for rent, groceries, and every thing in cash you could easily require 4k per month. That just so happens to be slightly below reporting amount. Do this enough and you'll be suspected of structuring your withdrawals to avoid the 5k withdrawal reporting threshold. I know the plural of anecdote is not data but it has been my experience that if you try to use cash f…
Earlier quoted context omitted.
I really don't understand this. What's a reasonable amount? I withdrew $2500 in cash from my bank last week. No questions other than "how would you like that?" and "would you like an envelope?"
Well, let's see... Living in San Francisco. If you paid for rent, groceries, and every thing in cash you could easily require 4k per month. That just so happens to be slightly below reporting amount. Do this enough and you'll be suspected of structuring your withdrawals to avoid the 5k withdrawal reporting threshold. I know the plural of anecdote is not data but it has been my experience that if you try to use cash f…
Earlier quoted context omitted.
I really don't understand this. What's a reasonable amount? I withdrew $2500 in cash from my bank last week. No questions other than "how would you like that?" and "would you like an envelope?"
Well, let's see... Living in San Francisco. If you paid for rent, groceries, and every thing in cash you could easily require 4k per month. That just so happens to be slightly below reporting amount. Do this enough and you'll be suspected of structuring your withdrawals to avoid the 5k withdrawal reporting threshold. I know the plural of anecdote is not data but it has been my experience that if you try to use cash f…
If I had to guess, you probably just irritated someone because of your withdrawal size combined with the fact that most banks do not hold more than $15-$20K in cash.
It's nice to see they recorded the denomination of each bill. Too bad the article didn't go into further detail in its summarization. The abstract[0] says $1 and $100 denominations were less likely to test positive. The latter is curious. Perhaps it's because lower denominations are more likely to be used by street dealers, or that $20 bills make up the majority of triple-digit ATM transactions. It's worth noting tha…
Hmm... on [1], how can it be that they tested 10 banknotes, and "92%" tested positive?
Earlier quoted context omitted.
I really don't understand this. What's a reasonable amount? I withdrew $2500 in cash from my bank last week. No questions other than "how would you like that?" and "would you like an envelope?"
Well, let's see... Living in San Francisco. If you paid for rent, groceries, and every thing in cash you could easily require 4k per month. That just so happens to be slightly below reporting amount. Do this enough and you'll be suspected of structuring your withdrawals to avoid the 5k withdrawal reporting threshold. I know the plural of anecdote is not data but it has been my experience that if you try to use cash f…
Personally, I don't even usually have any cash. New Zealand is a bit different in that there are increasingly few places that don't take cards. Even farmers markets and food trucks usually take cards these days. Hell, the parking machine also takes cards. I can go weeks without using actual physical money.
[0] http://bit.ly/22d6yKX (ita)