4 ms·

> It doesn't affect anyone. No one in Europe uses cash for anything more expensive than maybe 200 euros. Sold a used car just last year, got 2700€ in cash for

> It doesn't affect anyone. No one in Europe uses cash for anything more expensive than maybe 200 euros. Sold a used car just last year, got 2700€ in cash for it. Much easier than doing a bank transfer (which takes 1 day to arrive, if you're unlucky, and can be rolled back), or a paypal transfer (which can be undone) or anything else between to individuals. For b2c or b2b I agree, nobody pays that much in cash, but for individuals transacting with one another, it still seems the easiest option.

spyder 4y ago
Domestic bank transfers in many EU countries are already "instant" and EU wants to make it mandatory for every member without extra fees: https://www.euronews.com/next/2022/10/26/eu-pushes-for-banks-to-offer-instant-payments-in-euros-at-no-extra-cost https://www.euronews.com/next/2022/10/26/eu-pushes-for-banks...
B8MGHCBekDuRi 4y ago
> Sold a used car just last year, got 2700€ in cash for it. where did the buyer kept the money? > which takes 1 day to arrive you're saying it like it really makes a difference or like cash is safer and easier to handle. How much time does it take to deposit the money to your bank account? Is your time free? Do you like to lose money and time so that other people can use cash coming from who knows where? > but for individuals transacting with one another, it still seems the easiest option. back to question #1 again: what kind of people keep thousands of euros at home? I know no one who does it.
bigfudge 4y ago
Bank transfers in the uk are pretty much instantaneous during working hours, and often outside too
- dijit 4y ago
  Largely depends on which banks are talking between each other. For many banks and large transfers you need to wait an hour or so for it to go through. You notice it most when buying a house and you sit awkwardly in a room with the seller waiting for the money to be transferred so you can leave with the keys.
  - jonathantf2 4y ago
    What awful bank have you got where it takes 1h to do a Faster Payment?
    - dijit 4y ago
      Like I said it depends on the banks. Santander to HSBC is a pretty slow one for some reason. I’ve had some slow transfers from HSBC to Barclays too. In Sweden it took about an hour for Handelsbanken to Nordea, so I’m comfortable saying that there’s some kind of threshold that’s universally accepted for large bank transfers during working hours.
crazygringo 4y ago
I sure wouldn't want to risk discovering I'd been paid in high-quality counterfeit notes. Accepting 2700€ cash feels insane to me. In Europe do you not have cashier's checks? That's what we use in the US for something like a used car, since most people don't want to carry around a car's worth of cash, even for a short period of time. You go to the bank, and get a check drawn on the bank for the amount. The person receiving it can call the bank to verify it's valid if they don't trust it. And if you get robbed (or lose it) you can have the check cancelled.
- thorncorona 4y ago
  I would not take the risk selling expensive items with digital transactions for the counterparty to file a fictitious Paypal dispute or credit card chargeback.
  - crazygringo 4y ago
    Did you respond to the wrong comment? My comment was about paper cashier's checks, not digital transactions.
- kube-system 4y ago
  I wouldn't accept a cashiers check for a car in the US right now, unless the seller met me at their bank so I could cash it. A very popular scam at the moment is to buy a car with a fake cashiers check, then disappear with the car, and a couple days later the check comes back as fake.
  - crazygringo 4y ago
    ...that's why you call the bank in front of the buyer to verify it was legitimately issued? You don't need to visit the bank, just phone. There's no reason you should fall for a scam like that.
    - kube-system 4y ago
      Scammers will just fake a check from an out of town bank and make excuses that they can’t meet during regular business hours. I certainly won’t fall for any of these scams but it shouldn’t take a security specialist to not be defrauded.

spyder 4y ago

Domestic bank transfers in many EU countries are already "instant" and EU wants to make it mandatory for every member without extra fees: https://www.euronews.com/next/2022/10/26/eu-pushes-for-banks-to-offer-instant-payments-in-euros-at-no-extra-cost https://www.euronews.com/next/2022/10/26/eu-pushes-for-banks...

B8MGHCBekDuRi 4y ago

> Sold a used car just last year, got 2700€ in cash for it. where did the buyer kept the money? > which takes 1 day to arrive you're saying it like it really makes a difference or like cash is safer and easier to handle. How much time does it take to deposit the money to your bank account? Is your time free? Do you like to lose money and time so that other people can use cash coming from who knows where? > but for individuals transacting with one another, it still seems the easiest option. back to question #1 again: what kind of people keep thousands of euros at home? I know no one who does it.

bigfudge 4y ago

Bank transfers in the uk are pretty much instantaneous during working hours, and often outside too

dijit 4y ago
Largely depends on which banks are talking between each other. For many banks and large transfers you need to wait an hour or so for it to go through. You notice it most when buying a house and you sit awkwardly in a room with the seller waiting for the money to be transferred so you can leave with the keys.
- jonathantf2 4y ago
  What awful bank have you got where it takes 1h to do a Faster Payment?
  - dijit 4y ago
    Like I said it depends on the banks. Santander to HSBC is a pretty slow one for some reason. I’ve had some slow transfers from HSBC to Barclays too. In Sweden it took about an hour for Handelsbanken to Nordea, so I’m comfortable saying that there’s some kind of threshold that’s universally accepted for large bank transfers during working hours.

crazygringo 4y ago

I sure wouldn't want to risk discovering I'd been paid in high-quality counterfeit notes. Accepting 2700€ cash feels insane to me. In Europe do you not have cashier's checks? That's what we use in the US for something like a used car, since most people don't want to carry around a car's worth of cash, even for a short period of time. You go to the bank, and get a check drawn on the bank for the amount. The person receiving it can call the bank to verify it's valid if they don't trust it. And if you get robbed (or lose it) you can have the check cancelled.

thorncorona 4y ago
I would not take the risk selling expensive items with digital transactions for the counterparty to file a fictitious Paypal dispute or credit card chargeback.
- crazygringo 4y ago
  Did you respond to the wrong comment? My comment was about paper cashier's checks, not digital transactions.
kube-system 4y ago
I wouldn't accept a cashiers check for a car in the US right now, unless the seller met me at their bank so I could cash it. A very popular scam at the moment is to buy a car with a fake cashiers check, then disappear with the car, and a couple days later the check comes back as fake.
- crazygringo 4y ago
  ...that's why you call the bank in front of the buyer to verify it was legitimately issued? You don't need to visit the bank, just phone. There's no reason you should fall for a scam like that.
  - kube-system 4y ago
    Scammers will just fake a check from an out of town bank and make excuses that they can’t meet during regular business hours. I certainly won’t fall for any of these scams but it shouldn’t take a security specialist to not be defrauded.