6 ms·

In what circumstances have you or someone you known ever needed to pay for something over €10k in cash?

by Teandw 4y ago

ErikCorry 4y ago
Never. Americans should consider having a working bank sector. My biggest cash purchase ever was a monitor 20 years ago for less than 10% of this limit. I don't even have cash in my wallet any more, and I don't know anyone who has.
mozman 4y ago
I always ask for tax to be included when paying for cash.
from 4y ago
Why is your default to disallow it? I understand there is the interest of society and all in preventing crime but a reporting requirement like in the US would do the exact same thing and produce useful intelligence instead of just making all large cash transactions go underground.
csomar 4y ago
Why is this even a question? Are we really discussing whether people are allowed to trade tokens with physical items? Did the bar really go that low.
- voidfunc 4y ago
  Why shouldn't it be a question? Why do we allow it in the first place?
justahuman74 4y ago
Private party vehicle sales, I've done this a few times.
zahllos 4y ago
I know someone in Switzerland who bought a car in cash, 12x 1k chf notes. If you're paying for a big-ish shop, e.g. over 100chf, the major supermarkets won't blink if you proffer a 1k note because that's how the older generation get their pension. I've personally paid for about 20chf worth of stuff with a 200 note.
djbebs 4y ago
I dont need to make that argument. You need to make the argument that I shouldn't be able to.
helloworld11 4y ago
And why do you need to justify that something should be made illegal just because your personal circumstances don't include it as an experience in your life? Unless something is explicitly (or sometimes implicitly) harmful to others, it should not be banned just because you don't live it. Part of even a basic respect for un individual freedoms means not automatically trying to ban things that don't rigidly fit a common notion of how you "should" live.
jesusofnazarath 4y ago
A car?
- olivermarks 4y ago
  http://bigmeet.com/eng/maybe-the-best-swap-meet-in-europe/ http://bigmeet.com/eng/maybe-the-best-swap-meet-in-europe/ http://www.nsra.org.uk/southern-swapmeet/ http://www.nsra.org.uk/southern-swapmeet/ https://www.pomonaswapmeet.com https://www.pomonaswapmeet.com https://hershey.aaca.com/eastern-division-fall-meet/ https://hershey.aaca.com/eastern-division-fall-meet/ etc
- the_mitsuhiko 4y ago
  And if anything I absolutely hate cash transactions for used cars but sadly there haven’t been many alternatives. Maybe this will finally fix this.
- CosmicShadow 4y ago
  I'm still not sure who buys a car that expensive with cash, seems sketchy, inconvenient and unsafe. I wouldn't take cash if someone wanted to pay me that much, in fact someone did, they paid me for a contract with $5000 in used 20s and it was really fucked up, I didn't know how to get it into a bank or use it for anything without setting off alarms.
  - olivermarks 4y ago
    Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment. Suggesting laborious bureaucratic transactions over several days removes this common occurrence in that world, along with at many other gatherings of specialists - antiques, pedigree animals, whatever
    - macNchz 4y ago
      I bought a somewhat rare car with cash several years ago. The seller had a buyer lined up across the country (and showed me evidence), but said that if I could bring him cash he’d sell it to me instead. I went to the bank, brought him an envelope of $100 bills, and it was mine.
olivermarks 4y ago
Buying older cars and car parts and similar specialized areas
- Teandw 4y ago
  I would make the bold assumption that people paying over €10,000 for a used car in cash is a very rare situation.
  - sanid 4y ago
    It's not rare, happens every day. How else are you going to buy it from another private person safely? You want to have an instant transaction. You give somebody money and get a car, thats the safest transaction for both sides. Are you going to wire somebody 10k+ for a car you can't have instantly? (note real time bank transactions are only now becoming a real widespread thing around here in Germany)
    - B8MGHCBekDuRi 4y ago
      > How else are you going to buy it from another private person safely? SEPA transfers take 30 seconds to clear. > You give somebody money and get a car or you give them the money and get back nothing, because "what money are you talking about?" > thats the safest transaction for both sides that's literally the less safe! > Are you going to wire somebody 10k+ for a car you can't have instantly? If you are buying something worth more than 10k and you need it now, something's obviously not right. Keep in mind that to actually have more than 10k cash immediately available it means you only deal with cash and keep them somewhere they are less safe than a bank or cost you a lot more than a bank. Which, again, is already very suspicious. And no, it's not about regular people, median account balance in Germany is less than 5.000 euros but suddenly there's a need to pay 10k in cash to buy cars that you need right now and you casually had the money in your pocket, because it's a common thing to do. I call it BS!
      - wlecometo 4y ago
        > SEPA transfers take 30 seconds to clear. not entirely true, there are several countries in europe in which a SEPA transfer is shown in the beneficiary the next day, the most famous one being Italy. Italy also being the one with specific laws against mafia and terrorism, therefore such transfer would require you to add some additional papers. > > thats the safest transaction for both sides > that's literally the less safe! well so it's a bank transfer because once the money has been sent you cannot get it back, the bank acts only on specific cases. there's literally a million of cases of scams via ebay or similar that involved bank transfers and for which the bank was just "sorry". > If you are buying something worth more than 10k and you need it now, something's obviously not right. you are confusing "out of the ordinary" with "not right" and i'd like to remind you our legal systems in EU are still based on "innocent until proven guilty" principle.
ur-whale 4y ago
> In what circumstances have you or someone you known ever needed to pay for something over €10k in cash? Anyone involved in the construction business. But yeah, if you're a wage slave in the tertiary sector, you're very unlikely to realize how and why cash is necessary or even a matter of survival for a large class of workers out there.
- twic 4y ago
  Anyone involved in the construction business has made a single transaction of over ten thousand euros in cash? What for?
  - wbl 4y ago
    Tax evasion
- flumpcakes 4y ago
  Why not a BACS or any other type of bank transfer for that industry/sector? It sounds like a good way to do tax evasion if you just take cash in hand payments.

In what circumstances have you or someone you known ever needed to pay for something over €10k in cash?

by Teandw 4y ago

In what circumstances have you or someone you known ever needed to pay for something over €10k in cash?

Never. Americans should consider having a working bank sector. My biggest cash purchase ever was a monitor 20 years ago for less than 10% of this limit. I don't even have cash in my wallet any more, and I don't know anyone who has.

mozman 4y ago

I always ask for tax to be included when paying for cash.

from 4y ago

Why is your default to disallow it? I understand there is the interest of society and all in preventing crime but a reporting requirement like in the US would do the exact same thing and produce useful intelligence instead of just making all large cash transactions go underground.

csomar 4y ago

Why is this even a question? Are we really discussing whether people are allowed to trade tokens with physical items? Did the bar really go that low.

voidfunc 4y ago
Why shouldn't it be a question? Why do we allow it in the first place?

justahuman74 4y ago

Private party vehicle sales, I've done this a few times.

zahllos 4y ago

I know someone in Switzerland who bought a car in cash, 12x 1k chf notes. If you're paying for a big-ish shop, e.g. over 100chf, the major supermarkets won't blink if you proffer a 1k note because that's how the older generation get their pension. I've personally paid for about 20chf worth of stuff with a 200 note.

djbebs 4y ago

I dont need to make that argument. You need to make the argument that I shouldn't be able to.

helloworld11 4y ago

And why do you need to justify that something should be made illegal just because your personal circumstances don't include it as an experience in your life? Unless something is explicitly (or sometimes implicitly) harmful to others, it should not be banned just because you don't live it. Part of even a basic respect for un individual freedoms means not automatically trying to ban things that don't rigidly fit a common notion of how you "should" live.

jesusofnazarath 4y ago

A car?

olivermarks 4y ago
http://bigmeet.com/eng/maybe-the-best-swap-meet-in-europe/ http://bigmeet.com/eng/maybe-the-best-swap-meet-in-europe/ http://www.nsra.org.uk/southern-swapmeet/ http://www.nsra.org.uk/southern-swapmeet/ https://www.pomonaswapmeet.com https://www.pomonaswapmeet.com https://hershey.aaca.com/eastern-division-fall-meet/ https://hershey.aaca.com/eastern-division-fall-meet/ etc
the_mitsuhiko 4y ago
And if anything I absolutely hate cash transactions for used cars but sadly there haven’t been many alternatives. Maybe this will finally fix this.
CosmicShadow 4y ago
I'm still not sure who buys a car that expensive with cash, seems sketchy, inconvenient and unsafe. I wouldn't take cash if someone wanted to pay me that much, in fact someone did, they paid me for a contract with $5000 in used 20s and it was really fucked up, I didn't know how to get it into a bank or use it for anything without setting off alarms.
- olivermarks 4y ago
  Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment. Suggesting laborious bureaucratic transactions over several days removes this common occurrence in that world, along with at many other gatherings of specialists - antiques, pedigree animals, whatever
  - macNchz 4y ago
    I bought a somewhat rare car with cash several years ago. The seller had a buyer lined up across the country (and showed me evidence), but said that if I could bring him cash he’d sell it to me instead. I went to the bank, brought him an envelope of $100 bills, and it was mine.

olivermarks 4y ago

Buying older cars and car parts and similar specialized areas

Teandw 4y ago
I would make the bold assumption that people paying over €10,000 for a used car in cash is a very rare situation.
- sanid 4y ago
  It's not rare, happens every day. How else are you going to buy it from another private person safely? You want to have an instant transaction. You give somebody money and get a car, thats the safest transaction for both sides. Are you going to wire somebody 10k+ for a car you can't have instantly? (note real time bank transactions are only now becoming a real widespread thing around here in Germany)
  - B8MGHCBekDuRi 4y ago
    > How else are you going to buy it from another private person safely? SEPA transfers take 30 seconds to clear. > You give somebody money and get a car or you give them the money and get back nothing, because "what money are you talking about?" > thats the safest transaction for both sides that's literally the less safe! > Are you going to wire somebody 10k+ for a car you can't have instantly? If you are buying something worth more than 10k and you need it now, something's obviously not right. Keep in mind that to actually have more than 10k cash immediately available it means you only deal with cash and keep them somewhere they are less safe than a bank or cost you a lot more than a bank. Which, again, is already very suspicious. And no, it's not about regular people, median account balance in Germany is less than 5.000 euros but suddenly there's a need to pay 10k in cash to buy cars that you need right now and you casually had the money in your pocket, because it's a common thing to do. I call it BS!
    - wlecometo 4y ago
      > SEPA transfers take 30 seconds to clear. not entirely true, there are several countries in europe in which a SEPA transfer is shown in the beneficiary the next day, the most famous one being Italy. Italy also being the one with specific laws against mafia and terrorism, therefore such transfer would require you to add some additional papers. > > thats the safest transaction for both sides > that's literally the less safe! well so it's a bank transfer because once the money has been sent you cannot get it back, the bank acts only on specific cases. there's literally a million of cases of scams via ebay or similar that involved bank transfers and for which the bank was just "sorry". > If you are buying something worth more than 10k and you need it now, something's obviously not right. you are confusing "out of the ordinary" with "not right" and i'd like to remind you our legal systems in EU are still based on "innocent until proven guilty" principle.

ur-whale 4y ago

> In what circumstances have you or someone you known ever needed to pay for something over €10k in cash? Anyone involved in the construction business. But yeah, if you're a wage slave in the tertiary sector, you're very unlikely to realize how and why cash is necessary or even a matter of survival for a large class of workers out there.

twic 4y ago
Anyone involved in the construction business has made a single transaction of over ten thousand euros in cash? What for?
- wbl 4y ago
  Tax evasion
flumpcakes 4y ago
Why not a BACS or any other type of bank transfer for that industry/sector? It sounds like a good way to do tax evasion if you just take cash in hand payments.