What I find really unfair in these situation is that the government is banning something but not really offering any alternative.
There are plenty of transactions where using large amounts of cash is perfectly legitimate and the best option. What is the Dutch government suggesting here? Personal Checks have the obvious issue that the issuer can just default on them long after they have received the good or service.
Cashiers checks solve that problem but you have to pay a fee of a few dozens euros/dollars to get them and they are cumbersome to get (and you can't change the amount if you need to).
Wire transfers suffer from the same problem basically.
Credit/Debit cards are controlled by private entities and being able to receive payment from them is hard and costly to setup.
So what's the alternative to cash for payments over 3k?
Cash payments above €3000 to be outlawed in Netherlands
411–420 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#412Earlier quoted context omitted.
> 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? Well, for one, they control cash production > It's not a lot of money, and given inflation, diminishingly so. This is targeted at law abiding smallholding farmers where roadside transactions are often done in cash and farmers everywhere have a…
>Do you have any actual example of that ? What transaction do small farmers need to do along roadside for thousands of eur ? As kid of small farmer I don't remember anything like that ever happening. While each transaction might be <3000, on a good weekend, I could see it totaling to be over that amount. At this point, would it be illegal for the farmer to show up to his bank to deposit 3001? Does the farmer now need…
Doesn’t this only apply to individual transactions?
Only it’s very weird to just assume that this might apply to bank deposits…
Re: Cash payments above €3000 to be outlawed in Netherlands
#413Earlier quoted context omitted.
> 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? Well, for one, they control cash production > It's not a lot of money, and given inflation, diminishingly so. This is targeted at law abiding smallholding farmers where roadside transactions are often done in cash and farmers everywhere have a…
- paying a team of day labour workers - hay / feed delivery - combine/equipment rental - equipment resale - livestock - farm vehicle sales / repair It's probably fine, and I hear you can eat bugs.
Tell me you don't know much about how payments are done outside USA without saying so directly.
All of the above are very likely done electronically in Netherlands.
Denmark has an even lower limit (€2700) and there has been no problems with this. Denmark no longer supports payments using checks.
I've never heard of anybody being paid wages in cash in Denmark. It's so uncommon that the Danish IRS even had to explain it is actually possible to do so.
Re: Cash payments above €3000 to be outlawed in Netherlands
#414Earlier quoted context omitted.
Of course it needs to exist, but at the same time using it for huge numbers like 3000+ euros is in practice almost only done by criminals. It's a good balance imo.
You can easily spend 3k on a bike, motorcycle, car, a few hookers, high end restaurant with friends, and many other things. You're just regurgitating pro surveillance propaganda.
Of course people spend that regularly, but not with cash.
Re: Cash payments above €3000 to be outlawed in Netherlands
#415Earlier 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?
Privacy? I don't necessarily want my bank and/or the state to know that I blew up 3k€ on PrettyOlgaBlueEyes in a night of loneliness, or that my hobby is to buy & restore old cars, or whatever else.
Re: Cash payments above €3000 to be outlawed in Netherlands
#416Earlier quoted context omitted.
I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR?
> I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR? Privacy would be the biggest and most important reason and probably enough to end the conversation right here. But we can also include - ease of payment. Count out money and you're done. - vendor gets their money immediately, no 5 day hold like there could be on a check or money transfer -
At least in NL there is no such thing as a 5 day hold on a transfer. Typically these are instant, at worst next business day, and if you use something like "payment request" or "tikkie" all it involves is sending the buyer a link or posting a QR code somewhere to allow them to send money directly, instantly, to your account.
No chance of making errors in the bank nr, you can pre-specify the required amount in the request. No chance of making an error counting out 3K or more in cash notes.
Within the NL banking/payment landscape I'd argue that large cash transactions are more bothersome for everyone involved. (well, unless involving a bank is bothersome to either of the parties, but if that is the case we're probably entering "dubious transaction" or "dubiously sourced money" territory..)
Re: Cash payments above €3000 to be outlawed in Netherlands
#417Earlier 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?
The government decides your small donation to a protest movement is good reason to freeze you out from the banking system.
Re: Cash payments above €3000 to be outlawed in Netherlands
#418Earlier quoted context omitted.
Not from the Netherlands but from a small third world country: farmers around here like to buy things on spot doing handshake deals and carrying bags of cash. I've heard them buying a lot things from cattle to agricultural supplies and even vehicles. Mind you, this is a poor country. The middle class in the capital city can't even dream of making what these farmers make.
I still see this in rural America. Guys show up and transfer the title on the car for an envelope of cash and a signature. Same for livestock, butchering, services and so on.
I've done this myself many times. No one wants a check (especially not a probably-fake cashier's check) and no one wants to take the time to go to a bank, and why does the bank need to be involved or aware at all.
Re: Cash payments above €3000 to be outlawed in Netherlands
#419[deleted]
Re: Cash payments above €3000 to be outlawed in Netherlands
#420How are we not more critical of credit card companies for pushing this?
They take 3% of the transaction. Of course they have a vested interest in eliminating cash.