EU-wide maximum limit of €10K for cash payments

Post by nottorp » Sat, Dec 10, 2022, 10:35 PM UTC

alkonaut wrote: post #104

wizeman wrote: post #95

Earlier quoted context omitted.

> Most restaurants and cafes don’t accept cash either although they are certainly free to do so. Ok, so I'm curious about this place where you live where most restaurants don't accept cash, so here's a question: Let's say you enter the restaurant, eat the food and now you owe payment, but you don't have a credit card (maybe you didn't notice the "no cash" sign). Legal tender laws say that cash must be accepted as pay…

> Ok, so I'm curious about this place where you live where most restaurants don't accept cash This is in Sweden. > Legal tender laws say that cash must be accepted as payment for all debts. Yes. But those apparently aren’t absolute and non-negotiable. The Riksbank is actually concerned about this, because it’s affecting the ability for the economy to function in a crisis, as well as the ability to make anonymous tran…

Post by nly » Sat, Dec 10, 2022, 10:36 PM UTC

mberning wrote: post #283

Teandw wrote: post #256

Earlier quoted context omitted.

Let's be honest for a second. There are very few instances where a person would ever 'need' to pay for something over €10k in physical cash?

Horrible take. 10k is a pittance. Small business owners, farmers, people buying and selling vehicles, etc. It’s not a large amount of money. If you go down to the apple store and buy a couple well specced computers the bill is going to be over 10k.

Post by i_have_an_idea » Sat, Dec 10, 2022, 10:36 PM UTC

pelorat wrote: post #250

This will affect maybe 0.001% of the population. No one drops a stack of 10K euro when they buy something, it just doesn't happen.

Post by omginternets » Sat, Dec 10, 2022, 10:37 PM UTC

sofixa wrote: post #39

flandish wrote: post #27

With inflation, “worker shortages”, and prices rising - 10,000 will soon become within reach for lots of normal people. Pushing them to NEED to use a profit driven banking system. Forcing them to be tracked. To have data mined and sold. To rely on “too big to fail” banking systems that practically schedule economic downturns every 20 years or so.

> Pushing them to NEED to use a profit driven banking system. Profit driven, but available literally for free for an account and transfers (depending on the bank). > To have data mined and sold. GDPR says no. > To rely on “too big to fail” banking systems that practically schedule economic downturns every 20 years or so. We're talking about the EU here, not the US. There are a ton of challenger new banks.

Post by bonzini » Sat, Dec 10, 2022, 10:38 PM UTC

ilyt wrote: post #204

peoplefromibiza wrote: post #134

Earlier quoted context omitted.

> "Name one practical reason to pay amounts higher than 1.000€ in cash." it's 10.000 euros, you're off by an order of magnitude. Can you name one practical reason to pay more than 10k cash?

Car, house, selling/buying land etc. Mostly coz many banks take % cut on big money tranfers so taking it out and just giving it to someone in a bag is sometimes tens of thousands cheaper