Curious because I've never done it, how do people buy used cars off classifieds other than with cash? Checks can bounce, e-transfers can be reversed, etc. Seems any method other than cash is very susceptible to scams.
Cash payments above €3000 to be outlawed in Netherlands
491–500 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#492Earlier quoted context omitted.
> roadside transactions are often done in cash You're paying 3000 Euro for eggs?
I think GP's intention was to mention the farmers themselves, who would (presumably, I'm neither a farmer nor European) receive above >€3000 in egg-revenue per week/month/annum, and then go deposit that at the bank, use it for mortgage payments, or pay for farm equipment et al. in cash.
This proposal does not forbid bank deposits of > €3000.
Re: Cash payments above €3000 to be outlawed in Netherlands
#493Earlier quoted context omitted.
So you need to be convicted by a court and the government needs to be able prove the money was obtained from illegal sources? How is that unreasonable and more importantly what does it have to do with the €3000 limit discussed in this thread?
Similar laws in the US have readily morphed into we're going to hold it until you prove it's not from illegal sources. Googling it will provide many examples.
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Re: Cash payments above €3000 to be outlawed in Netherlands
#494Earlier quoted context omitted.
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam…
Which is funny because I can cross any border with 12 words in my head containing stablecoins.
And I can access my bank account after crossing the border as well.
Re: Cash payments above €3000 to be outlawed in Netherlands
#495Earlier quoted context omitted.
You'll be downvoted, but to answer this question with all honesty: 1) Disallowing a third-party in every single transaction you make, especially as 1a) Inflation means 3k now might be quite low in 20 years 1b) Banks themselves have been shown to be scummy 1c) Banks are a rare institution to allow outsiders into. 2) Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineli…
> Bank accounts themselves are not actually all that accessible If you have a way to prove your ID(which basically everyone do in Norway) then bank accounts are very accessible and free. I don't know how many banks I have accounts at, but it's more than 15, and all you need is your ID and a couple of minutes to create an account.
Depends on country a lot; in the Scandinavian countries there's a central identification database which links your entire identity including the registered address.
However, if I'm not from Norway/Sweden/Denmark then I'm not in that system yet.
Re: Cash payments above €3000 to be outlawed in Netherlands
#496Earlier quoted context omitted.
So you need to be convicted by a court and the government needs to be able prove the money was obtained from illegal sources? How is that unreasonable and more importantly what does it have to do with the €3000 limit discussed in this thread?
Similar laws in the US have readily morphed into we're going to hold it until you prove it's not from illegal sources. Googling it will provide many examples.
I don’t care about examples from the US. How is that relevant or at all related to this specific ban?
Re: Cash payments above €3000 to be outlawed in Netherlands
#497They 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.…
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Re: Cash payments above €3000 to be outlawed in Netherlands
#498It's amazing how many Europeans love letting their governments all up in their business. It's my money. I earned it. I already paid taxes on it. I should be able to spend it however I want.
Re: Cash payments above €3000 to be outlawed in Netherlands
#499Earlier 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.
There are different (distinct) laws. You cannot enter any EU state with more than the equivalent of 10,000 Euro cash unless you declare the amount at the point of entrance. If border controls finds you with more than 10,000 Euro you will have to pay a fine. Then you can walk with any amount of money, but when you pay for something there is a limit (500 in Greece, 1,000 in Spain, 5,000 in Italy (was 2,000 in 2022), no…
> And there is usually a provision prohibiting "artificial fractioning" of payment, i.e. in theory if you buy something worth 1,200 and the limit is 1,000 you cannot pay that with two invoices/receipts 600 Euro each.
https://en.wikipedia.org/wiki/Structuring
Also illegal in the US.
Re: Cash payments above €3000 to be outlawed in Netherlands
#500Earlier quoted context omitted.
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.
I've owned seven vehicles in my lifetime. Five of them were paid for with cash transactions greater than $3,000. It's quite common for private sellers to prefer cash.