4 ms·

I would make the bold assumption that people paying over €10,000 for a used car in cash is a very rare situation.

by Teandw 4y ago

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.
DiggyJohnson 4y ago
What’s the alternative? Venmo or it’s equivalent, or a [certified] check? I’d prefer to still have the option of a cash payment, even if it’s one I’d rarely if ever utilize.
- benhurmarcel 4y ago
  > What’s the alternative? Just a bank transfer.
  - hartator 4y ago
    > Just a bank transfer. Which is not free, anonymous, and require a third party.
    - Matthias247 4y ago
      bank transfers are usually free in europe
      - akimball 4y ago
        Sine secretum non Libertas.
        B8MGHCBekDuRi 4y ago
        made up Latin adage is more than enough to identify you as a monero spammer. sine intelligentia non sunt secreta
    - Teandw 4y ago
      It's free in most EU countries. I've never paid for a bank transfer. The third party doing the transaction gives me some protection that I wouldn't otherwise have. Can't argue against the anonymous part of it but when the transaction is between me, the seller and the bank, I'm not sure why it would need to be anonymous.
flumpcakes 4y ago
I don't think I have ever paid for anything over a few hundred in cash. Criminalising the use of cash seems a bit authoritarian, but I don't think there is any legitimate reason to pay for anything in cash with that amount that couldn't be done by a BACS transfer. In the UK you have to register with HMRC under money laundering supervision regulations if you are a business or trader that takes in cash payments over 10,000 euro.

I would make the bold assumption that people paying over €10,000 for a used car in cash is a very rare situation.

by 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.

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.

DiggyJohnson 4y ago

What’s the alternative? Venmo or it’s equivalent, or a [certified] check? I’d prefer to still have the option of a cash payment, even if it’s one I’d rarely if ever utilize.

benhurmarcel 4y ago
> What’s the alternative? Just a bank transfer.
- hartator 4y ago
  > Just a bank transfer. Which is not free, anonymous, and require a third party.
  - Matthias247 4y ago
    bank transfers are usually free in europe
    - akimball 4y ago
      Sine secretum non Libertas.
      - B8MGHCBekDuRi 4y ago
        made up Latin adage is more than enough to identify you as a monero spammer. sine intelligentia non sunt secreta
  - Teandw 4y ago
    It's free in most EU countries. I've never paid for a bank transfer. The third party doing the transaction gives me some protection that I wouldn't otherwise have. Can't argue against the anonymous part of it but when the transaction is between me, the seller and the bank, I'm not sure why it would need to be anonymous.

flumpcakes 4y ago

I don't think I have ever paid for anything over a few hundred in cash. Criminalising the use of cash seems a bit authoritarian, but I don't think there is any legitimate reason to pay for anything in cash with that amount that couldn't be done by a BACS transfer. In the UK you have to register with HMRC under money laundering supervision regulations if you are a business or trader that takes in cash payments over 10,000 euro.