Can't read Dutch, but I'm pretty sure there is a version of "muh' terrorism!" in there.
They have a cocain problem there ...
Cash payments above €3000 to be outlawed in Netherlands
11–20 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#12* legal cash payments
Many eu countries alreadt have such limits , and I think it's fine to require that for legal transactions. After all the tax man has eyes everywhere already.
Re: Cash payments above €3000 to be outlawed in Netherlands
#13civilians, adults .. consider your rights to trade as you see fit among each other
Re: Cash payments above €3000 to be outlawed in Netherlands
#14Sounds like this only applies to certain players:
The Wwft applies to anyone involved in cash flows or the purchase and sale of (expensive) goods. For example: banks; estate agents; notaries; tax advisers; lawyers; people who mediate in the purchase and sale of, for example, vehicles, art objects and jewellery.
So one-off transactions (you sell some personal item and accept cash) are probably exempt from the due diligence check.
Re: Cash payments above €3000 to be outlawed in Netherlands
#15There are many similar restrictions on other countries. Here is a list for Europe: https://www.europe-consommateurs.eu/en/shopping-internet/cas... The equivalent of 3,000 - 4,000 Euro seems to be the norm.
Spain's 1,000€ may be the most restrictive, close to Romania's 5,000 lei.
Re: Cash payments above €3000 to be outlawed in Netherlands
#16Give it a decade or two of inflation, and that's cash effectively outlawed
Exactly this. Currency transaction reports are mandatory for any individual transactions > $10,000. This limit $10K was established in 1970 (Bank Secrecy Act). After 50 years, $10,000 of 1970 should have been at least $50K of 2023. Politicians and their crony bureaucrats never want to index these limits with inflation.
Re: Cash payments above €3000 to be outlawed in Netherlands
#17Re: Cash payments above €3000 to be outlawed in Netherlands
#18if i am not mistaken, it already is 5000€ across EU for personal payments and 8k or 10k for business payments for years. So it is not a surprise they are pushing it down even more to limit people from holding cash. They will not outlaw it straight up due to many constitutions protecting it but they will make using it as hard as possible. The same as with covid, they imposed so many obstacles for ordinary people that it was easier to just comply.
Re: Cash payments above €3000 to be outlawed in Netherlands
#19Give it a decade or two of inflation, and that's cash effectively outlawed
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam more powers like this.
Re: Cash payments above €3000 to be outlawed in Netherlands
#203K is not even top of the line laptop nowadays.