Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Cash payments above €3000 to be outlawed in Netherlands

rijksoverheid.nl

Post reply on HN
Print view View original

291–300 of 802 posts

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

#291

Post by dangus »

boeingUH60 wrote: post #216
throwaway2037 wrote: post #166

Earlier quoted context omitted.

I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR?

Freedom from government surveillance and potential overreach? In reality, there’s hardly any 3,000 euros+ transaction where a business or individual will accept cash. That’s too much money to have on hand when a bank transfer is much more comfortable…still happens rarely though so I think this law is overreaching. Disclosure: I’m not Dutch nor European so my opinion hardly matters here.

I think your second sentence/paragraph points out exactly why this restriction is needed: the only people who would ever in their right mind transact in that much cash are very likely to be either avoiding taxation (a.k.a. stealing from the common taxpayer), or keeping money off the books to hide illegal activity.

The average person isn't affected by this type of government surveillance and potential overreach because the average person doesn't buy things that are priced at over 3,000 euros per transaction. They can easily hide all their daily transactions from the scrutiny of government and surveillance capitalism just fine.

This regulation only impacts the wealthiest people and/or the organized criminal.

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

#292

Post by someplaceguy »

rantallion wrote: post #207
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?

If they want to pay rent or buy a car or any other thing of value, yes.

Also, it doesn't matter whether it's frequent or not. "Let's ban migrants from buying cars because they don't buy them frequently" is not exactly the most convincing argument.

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

#293

Post by bob88jg »

hiatus wrote: post #266
shellfishgene wrote: post #249

Earlier quoted context omitted.

There are for sure tradeoffs here, but in Germany for example they recently made paying in cash for real estate illegal because it was obvious that almost all those cash transactions involved crime money of some sort. Edit: As noted below cash here refers to paper money. The same law also prohibits real estate purchase with gold, silver, diamonds or crypto currencies.

So if you sell a house and want to buy a new one, you have to pay for a mortgage you don't need?

No u have to do a bank transfer -in cash here means literally in cash...

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

#294

Post by xeromal »

mdrzn wrote: post #91
MSFT_Edging wrote: post #85

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.

That introduces a 3rd party to the transaction.

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

#295

Post by qup »

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...

Lawnmower, motorcycle, four wheeler, tractor, excavator, specialty tools, toolboxes, computers, phones, safes, firearms are some big ticket things I and those around me have paid for in cash, all used.

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

#296

Post by whirlwin »

antihero wrote: post #243
mywittyname wrote: post #185

Earlier quoted context omitted.

Buying a Macbook Pro 16" M2 and a Samsung Odyssey Neo G9 at the same time from the same place.

Why do you need cash for that?

As in why would anyone want those devices in the first place?

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

#297

Post by kjandersen »

hiatus wrote: post #266
shellfishgene wrote: post #249

Earlier quoted context omitted.

There are for sure tradeoffs here, but in Germany for example they recently made paying in cash for real estate illegal because it was obvious that almost all those cash transactions involved crime money of some sort. Edit: As noted below cash here refers to paper money. The same law also prohibits real estate purchase with gold, silver, diamonds or crypto currencies.

So if you sell a house and want to buy a new one, you have to pay for a mortgage you don't need?

Absolutely not, it simply means the payment must be done via the banking system. Electronic = mostly traceable.

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

#298

Post by doix »

hiatus wrote: post #266
shellfishgene wrote: post #249

Earlier quoted context omitted.

There are for sure tradeoffs here, but in Germany for example they recently made paying in cash for real estate illegal because it was obvious that almost all those cash transactions involved crime money of some sort. Edit: As noted below cash here refers to paper money. The same law also prohibits real estate purchase with gold, silver, diamonds or crypto currencies.

So if you sell a house and want to buy a new one, you have to pay for a mortgage you don't need?

I believe in this case, cash refers to physical bills, not how it's normally used in conversation (at least in the UK) to mean buying without a mortgage (via bank transfer).

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

#299

Post by nonethewiser »

pif wrote: post #186
nonethewiser wrote: post #60

Earlier quoted context omitted.

I guess this terrible practice is more widespread than we realized.

Terrible practice? That's your opinion.

It is. My point is that it being "normal" doesn't suggest that it's fine.
Post reply on HN