Sounds good to me. It's hard to imagine anyone actually legitimately paying amounts like that cash these days.
Cash payments above €3000 to be outlawed in Netherlands
181–190 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#182Earlier quoted context omitted.
> "There is no cash limit for car purchases" wth? Cash isn't great, but some people don't use online banking - and in a private sale, only a fool would hand over their car keys to a stranger in exchange for a cheque . (Of course, this was a much bigger issue 15 years ago - these days we have faster payments, and the vast majority of people can make payments from their phone.)
>Cash isn't great, but some people don't use online banking This is the US version of the events. I don't know all EU member states in detail, but I can't think of one where it's possible to receive salary/pension in cash. Cheques have not been a thing for 20y+, I wonder if they are still issued.
There are still unbanked citizens in all EU countries, although admittedly not very many of them.
The UK has an "exceptions service" via the post office for taking your pension as cash. https://www.postoffice.co.uk/payment-exception-service
Re: Cash payments above €3000 to be outlawed in Netherlands
#183Re: Cash payments above €3000 to be outlawed in Netherlands
#184There is a Financial Tyranny Index by Vexl Foundation published here: https://github.com/vexl-it/fti/blob/main/fti.pdf Among other things, it shows Cash Limits in various countries: Greece 500 EUR, Spain, Italy, France 1000 EUR, Israel 1500 EUR, ...
Who is the Vexl Foundation and why should I care about their index or what they think? I could create any index I want, along with a slick website, to deride or elevate any cause that I want.
Re: Cash payments above €3000 to be outlawed in Netherlands
#185Earlier quoted context omitted.
Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.
I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR?
Buying a Macbook Pro 16" M2 and a Samsung Odyssey Neo G9 at the same time from the same place.
Re: Cash payments above €3000 to be outlawed in Netherlands
#186There 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.
I guess this terrible practice is more widespread than we realized.
Terrible practice? That's your opinion.
Re: Cash payments above €3000 to be outlawed in Netherlands
#187Earlier quoted context omitted.
Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.
Even when there are limit's its tough to enforce. A better strategy is to remove legal tender above $20. It makes makes hoarding cash a logistical problem for criminals. 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.
they famously called the 500 euro bills -bin ladens- for how hard they became to secure since all the unofficial transactions where mostly done with those high denomination bills
Re: Cash payments above €3000 to be outlawed in Netherlands
#188Re: Cash payments above €3000 to be outlawed in Netherlands
#189If the endgame is to ban cash, what would be the back up plan for in case of war, solar flare* or other natural disaster? *electromagnetic pulse destroy electronic devices (no ATMs, card readers)
> what would be the back up plan for in case of war, solar flare* or other natural disaster?
Does it need to be a natural disaster? Things like a widespread network failure, a major bank's systems going down for a while (happened not so long ago here), or even a country-wide blackout (we had one last week, triggered by a fault in a fault detection system mistakenly powering down a high-voltage transmission line, and for some yet to be determined reason that led to an instability which triggered other fault detection systems) can be a pain if you depend on an online system.
Re: Cash payments above €3000 to be outlawed in Netherlands
#190I am the Lord your God, which brought you forth out of the land of Egypt, that ye should not be their bondmen; and I have broken the bands of your yoke, and made you go upright.