561–570 of 802 posts
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Ease of payment? Paying with a card is much simpler and faster. Take your card, phone or watch and hold it to the terminal for one second and you're done. It's not normal for payouts to take 5 days. In Norway it's the next day.
I was assuming payment for things like contractors or furnace repair that don't walk around with visa terminals. I agree that in a grocery store, it is far easier to pay with a card.
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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.
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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 -
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> Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineligible for a bank account under random (but common) circumstances. Not in the Netherlands. Any adult (18 or older) resident of the EU has the right to a bank account, by law. > an interesting loop you can get into is that you need to pay a utility bill in order to get a bank account, yet you can't pay a utility bil…
You need proof of address too, it's not enough to have just an ID. A passport is good, but you should also be aware that not everyone has a passport or drivers license. (for example: I didn't when I got my first bank account). My first bank account was a deal my mother made with the bank where she acted as guarantor. having a right to a thing is not the same as actually getting it; there is a lot of anti-fraud legisl…
Yes, but you don’t need a bill for that, you can just get it from the municipality where you are registered.
> A passport is good, but you should also be aware that not everyone has a passport or drivers license.
Anyone age 14 and up is required by law to be able to show an ID when asked. So yeah, everyone here has an ID.
> My first bank account was a deal my mother made with the bank where she acted as guarantor.
The rules for children are different. Once you turn 18 you need to ID yourself to the bank. If you don’t do this your account will be blocked. You will be informed of this shortly before you turn 18.
> having a right to a thing is not the same as actually getting it; there is a lot of anti-fraud legislation that exists and must be complied with. The bank isn't just going to fully open an account with nothing but an ID
You have a right to a basic account, not necessarily full service. You can send/receive money and get a debit card. Anything else, credit cards, loans, etc. are of course not included.
And sure, if you’ve been convicted of fraud or anything like that, that’s an exception.
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> 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 -
Ease of payment? Paying with a card is much simpler and faster. Take your card, phone or watch and hold it to the terminal for one second and you're done. It's not normal for payouts to take 5 days. In Norway it's the next day.
I'm not sure I'd feel safe if anyone could pay an amount above € 3000 after stealing my watch / phone / card and putting them on a terminal.
The very worth watching Milton Friedman PBS series about the merits of free markets was called “Freedom to Choose” for a good reason. For such markets to function you must be free to choose what you do to earn money and free to choose on what goods and services you wish to spend it on. Much of the series is arguing about what happens when governments attempt to control this dynamic leading to the exact opposite of th…
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The point isn't that nothing costs €3k, but that regular working people rarely have €3k physical cash on hand. Money goes into their bank accounts via direct deposit and they spend it digitally.
In my opinion it's not unthinkable that an older person, someone without a bank account, or someone who works odd-jobs, might save cash in a drawer (regardless of whether that's advisable) for a long time for a larger purchase, like a used car bought in-person directly from someone else. Should we ban that?