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How often do the people who can't get a bank account for various reasons enter into transactions over $10k?
by kgwgk 7y ago
How often do the people who can't get a bank account for various reasons enter into transactions over $10k?
- JumpCrisscross 7y ago> How often do the people who can't get a bank account for various reasons enter into transactions over $10k? I’m guessing the effects would be secondary. If your business serves the unbanked, and receives its revenues in cash, it may be more convenient to pay suppliers with that cash than to deposit it and issue electronic payment. Not sure if that pushes any businesses over the edge, but it’s a factor.
- ajdlinux 7y agoIf you're operating a legitimate business maintaining proper accounting records, and dealing with other legitimate businesses who are themselves maintaining records and paying tax, I would guess that it's _still_ much easier to go to the bank and deposit your cash into an account than to pay your bills straight out of your cash.