Earlier quoted context omitted.
Send it via bank? A quick and free bank transfer which also works out as "receipt" of payment.
What happens when your bank says: "no." ?
Same as what happens when it turns out you didn't bring enough cash, I guess.
Cash payments above €3000 to be outlawed in Netherlands
361–370 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#362Earlier quoted context omitted.
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 withdrawi…
Idk about europe, but as an American I would have used a money order for this. Unless I'm buying up a friends junker. Gotten grief lately from local DMV when we don't have a paper trail for buying up cars out of state when it comes time to get them registered here. But if I'm buying locally it's easier to just call up a Notary friend and stamp a printed bill of sale while we hand over cash.
Re: Cash payments above €3000 to be outlawed in Netherlands
#363Earlier quoted context omitted.
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 withdrawi…
Easy workaround is that you do more than one cash payment.
If your goal is to avoid scrutiny, I would not recommend breaking up a cash payment into a series of smaller cash payments.
Re: Cash payments above €3000 to be outlawed in Netherlands
#364The 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.
Why? None of your business. Where it comes from? None of your business. Says who? Me, twice.
> Where it comes from? None of your business.
That ridiculously wrong. If you got a huge stash of cash and can’t justify where it comes from… well yeah, it screams undeclared work or illegal business. Do you have other legit explanations?
Re: Cash payments above €3000 to be outlawed in Netherlands
#365Earlier quoted context omitted.
> Why would someone need to pay for 10k in cash? The answer to this is very simple: none of your business. I take strong issue with the word "need." Why do you need that car? That television? That four bedroom house? Why do you need that bow and arrow? For sport, you say? Why not play some ball game instead? Why do you need a chess set when you can play digitally online without killing a tree? Why do you need those f…
It is not my business but the government creates the money and it is their business. It always has been.
Not money, fiat currency. Something without intrinsic value adding nothing of value and resulting ultimately in the ability to control and monitor its usage for inevitably nefarious purposes. It always has been.
Re: Cash payments above €3000 to be outlawed in Netherlands
#366Earlier quoted context omitted.
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 becaus…
I purchase, restore, and sometimes sell old woodworking machinery as a side gig to subsidize my own purchase of woodworking equipment for my shop.
I have had multiple cash transactions above $3,000 every year that I've done this. Not to avoid taxes, not to keep them off the books, but because one of the parties has either the unwillingness or inability to take electronic payments. Elderly people, those located in rural or otherwise isolated areas, those with a natural distrust of government for whatever reason, or those with a distrust of banks in general. These are all valid use cases.
This law would make it nearly impossible for me to do what I do (on the side).
Re: Cash payments above €3000 to be outlawed in Netherlands
#367Re: Cash payments above €3000 to be outlawed in Netherlands
#368Earlier quoted context omitted.
You ruin notes if you put them in your pocket. Coins you can just drop in the coin pocket on jeans. I wish the 1USD coin was more than a legal tender collector item. Maybe up to 2USD would be nice.
Maybe some notes, but $1 bills are pretty durable. And most places will take them in nearly any condition, although, I did have a merchant in Ocean City, NJ recently that wouldn't take a $1 with a small tear, and I hear merchants overseas do want pristine USD.
More andecdotes but I've had british pound coins that were minted in the early 60's still in passable condition; nearly every dollar bill I've had in the US has been grimy and darkened and felt like it was three seconds from falling apart.
(ok, hyperbole, but I've had a few like that)
The US note was printed after 2001, that's a considerable time difference.
Though your $20 notes are usually in excellent condition for some reason compared to the british equivalent.
Re: Cash payments above €3000 to be outlawed in Netherlands
#369Earlier 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 people were handing over suitcases containing millions in cold hard cash!? Is there ever a legitimate reason to do that?
Well there is no reason you shouldn't be able to. Think about how large purchases were made before banking networks existed.
My friend worked for an insurance company that would regularly receive double digit thousands cash payments on policies from pot farms because they can't have bank accounts.
Re: Cash payments above €3000 to be outlawed in Netherlands
#370I was a juror for a divorce trial recently where the wife had a salary job while the husband spent their entire lives presumably accepting checks for contract work and cashing them without a bank account. So that portion of their joint income was to avoid the IRS and it of course made the settlement difficult because he didn't have any receipts for any of his work that was entirely done under the table.
The plus side is that laws like this of course would prevent tax evasion. It would also mean you need to have a bank to make a living. While I'm not a fan of the creeping authoritarianism of a digital currency that's likely coming as well, it annoys me that so many people just mooch off of government services that the rest of us pay for.