171–180 of 802 posts
Earlier quoted context omitted.
How else would you buy a used car/motorbike from a private party?
Send it via bank? A quick and free bank transfer which also works out as "receipt" of payment.
There 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.
Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.
If a million dollars in $100 fits in a briefcase, Then it's a suitcase or more for $20 etc. And then banking that money becomes tedious as well.
Anyway, without enforcement it's really just tokenism.
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
While we can indeed discuss whether it makes sense in most case to pay large sums in cash, this is not the issue. The issue is whether this should be illegal.
Some people hoard gold and jewellery, should that be illegal? Maybe I am hoarding cash and maybe that's not a great idea but in a free society people should be free to make their own decisions on this.
There 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.
> Remember: A trader in the EU is not obligated to accept more than 50 metal coins for the same payment. I shall try and remember that.
It makes my dream of returning money in thousands of 1 cent coins out of spite impossible
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
Earlier quoted context omitted.
Interesting. That's max 100EUR in coins And I'm glad coins are more popular in Europe than in the US because those $1 notes take too much space
Wow, as someone from the US I always thought the $1 notes were far superior to the equivalent coins in other countries. I dislike having coins in my pocket, but already have a note or 2. Adding a couple more adds negligent space.
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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…
I have heard of someone (on a talk show) crossing over with a large amount of gold coins. Since the coins (the Gold Loonie) has a nominal face value of something like 200 CAD - he just told the customs that he was bringing over the nominal face value of the coins. This only works with coins not rounds, as rounds are not legal tender and maybe that is why rounds trade at a discount to coins?
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
"60% of the times, it's money laundering every time." Please provide your reference.