Cash payments above €3000 to be outlawed in Netherlands • Hacker News Board

Re: Cash payments above €3000 to be outlawed in Netherlands

#201

Post by ilyt » Wed, Aug 23, 2023, 2:29 PM UTC

seydor wrote: post #45

sakisv wrote: post #32

Earlier quoted context omitted.

Wow Greece has a limit of 500 euro, but: "There is no cash limit for car purchases" wth? EDIT: Also this something that I didn't know about the UK > With regard to the change, there are unlimited payments of £ 5, £ 2 and £ 1. Coins with a face value of 50p, 25p and 20p can pay amounts up to £ 10, with 10p and 5p up to £ 5 and with 2p and 1p up to 20p.

The most corrupt countries tend to have the worst limits. In greece for example real estate sellers will try to officially declare a price much lower than the real one to the taxman, taking the rest in cash under the table. That's why there are government-appraised, official "objective" prices according to which real estate is taxed

Also common for car purchases. Put lower amount on documents to pay less tax.

Which often causes problem when the cars is defective and seller goes "sure, I will pay you back in full, the amount that is on documents". And buyer got no recourse for that.

Re: Cash payments above €3000 to be outlawed in Netherlands

#202

Post by thereddaikon » Wed, Aug 23, 2023, 2:29 PM UTC

throwaway2037 wrote: post #166

SileNce5k wrote: post #88

Earlier 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?

I'm not a european but I do have an example. A few years back I purchased a project car in cash. I don't carry checks, who does anymore? And my bank would have given me grief trying to transfer an amount that large at once. I had tried before and it would trigger their fraud detection and give me headaches. Its good its there but can be a barrier when I'm just trying to buy something. So going to branch and withdrawing the cash was the most convenient option.

Re: Cash payments above €3000 to be outlawed in Netherlands

#203

Post by f1yght » Wed, Aug 23, 2023, 2:29 PM UTC

willcipriano wrote: post #157

bluescrn wrote: post #5

Give it a decade or two of inflation, and that's cash effectively outlawed

Works with technology as well, the speed limits in your neighborhood were probably set when cars had drum brakes and poor visibility.

Cars still kill people at high speed, human bodies haven't adapted to get hit by cars better.

Re: Cash payments above €3000 to be outlawed in Netherlands

#204

Post by afdezl » Wed, Aug 23, 2023, 2:29 PM UTC

jWhick wrote: post #93

potatototoo99 wrote: post #15

Earlier quoted context omitted.

Spain's 1,000€ may be the most restrictive, close to Romania's 5,000 lei.

I'm quite sure they are not enforcing it since i was traveling to and walking with across spain with much more.

The rules in Spain apply for business transactions, i.e.: Business Business and Individual Business, NOT between individuals. The funny thing about it is that in the hypothetical case you would be caught, whichever party reports it first, before getting caught, would not be penalised.

Re: Cash payments above €3000 to be outlawed in Netherlands

#205

Post by orangepurple » Wed, Aug 23, 2023, 2:29 PM UTC

addandsubtract wrote: post #168

jWhick wrote: post #93

Earlier quoted context omitted.

I'm quite sure they are not enforcing it since i was traveling to and walking with across spain with much more.

What did you buy for over 1k in cash? I can only imagine a car or bike, but you said walking, so I'm curious...

Food, shelter, transportation, adult entertainment, and adult beverages

Re: Cash payments above €3000 to be outlawed in Netherlands

#206

Post by mdrzn » Wed, Aug 23, 2023, 2:29 PM UTC

macNchz wrote: post #198

Frustrating to see more laws like this that can readily throw a wrench in the day to day lives of regular working people, when money laundering and tax evasion at a scale multiple orders of magnitude larger than this is so shamelessly visible in the form of nine-figure real estate transactions, art auctions, and Caymans-based shell corporations.

Not being able to spend €3k cash is a wrench in the day to day lives of regular working people?

Re: Cash payments above €3000 to be outlawed in Netherlands

#207

Post by rantallion » Wed, Aug 23, 2023, 2:29 PM UTC

motohagiography wrote: post #127

They can't control the black market in drugs, what makes them think controlling a black market in cash , which is a million times more desirable, will be any more successful? There's the small matter of millions of undocumented migrants entering Europe who will be trapped in this now-illegal-cash underclass, and these financial oppression laws just incentivise and create criminal networks to facilitate basic economy.…

> There's the small matter of millions of undocumented migrants entering Europe who will be trapped in this now-illegal-cash underclass

Are these migrants frequently making cash payments in excess of €3000?

Re: Cash payments above €3000 to be outlawed in Netherlands

#208

Post by ilyt » Wed, Aug 23, 2023, 2:29 PM UTC

xxs wrote: post #61

michaelt wrote: post #55

Earlier 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.

>Cheques have not been a thing for 20y+, I wonder if they are still issued.

At least here in Poland there were only theoretical option ( I have not seen one in person once for 20+ years), and removed few years back

Re: Cash payments above €3000 to be outlawed in Netherlands

#209

Post by ajmurmann » Wed, Aug 23, 2023, 2:29 PM UTC

motohagiography wrote: post #127

They can't control the black market in drugs, what makes them think controlling a black market in cash , which is a million times more desirable, will be any more successful? There's the small matter of millions of undocumented migrants entering Europe who will be trapped in this now-illegal-cash underclass, and these financial oppression laws just incentivise and create criminal networks to facilitate basic economy.…

It might not stop transactions for drugs, but it might make laundering the money harder and more necessary

Re: Cash payments above €3000 to be outlawed in Netherlands

#210

Post by reaperducer » Wed, Aug 23, 2023, 2:29 PM UTC

willcipriano wrote: post #157

bluescrn wrote: post #5

Give it a decade or two of inflation, and that's cash effectively outlawed

Works with technology as well, the speed limits in your neighborhood were probably set when cars had drum brakes and poor visibility.

Works with technology as well, the speed limits in your neighborhood were probably set when cars had drum brakes and poor visibility.

Speed limits are far more complicated than that.

They're used to reduce noise, create gaps in traffic so people can make left turns, give pedestrians time to cross a street, encourage people to see nearby businesses, and a hundred other reasons.

I've read a number of traffic studies in the last few decades. Some of them are fascinating in their technical depth.