3 ms·

Probably the cost associated with storing, counting, insuring, securing, depositing the money. I get the privacy aspect but then why not get a prepaid credit ca

Probably the cost associated with storing, counting, insuring, securing, depositing the money. I get the privacy aspect but then why not get a prepaid credit card or something like that?

haneefmubarak 3y ago
AFAIK as part of anti-money-laundering (AML) efforts, most places require ID when you try to buy prepaid cards with cash.
- awestroke 3y ago
  Sounds reasonable. You are still anonymous towards the merchant when you use the prepaid card
  - anigbrowl 3y ago
    No it doesn't. I resent being asked to produce ID for every little thing. Someone tried to card me when I bought beer in a supermarket the other day. I'm 52.
    - awestroke 3y ago
      That must have been traumatic for you
- barbazoo 3y ago
  I didn't know that, thanks, yeah it's the same here in Canada, EU presumably too. Well, then we're SOL and won't be able to charge our cars (fully) anonymously.
- NavinF 3y ago
  Is that an EU thing? In the US you can buy as many $500 visa cards as you want at any grocery store with no ID. You may need a manager's override if you're buying over $10,000 but that's just to verify that you're not falling for a gift card scam. Converting >$10k from card to cash on the other hand often requires an ID
  - barbazoo 3y ago
    > In the US you can buy as many $500 visa cards as you want at any grocery store with no ID. Canada requires retaining a record of the ID used to buy the prepaid credit cards, too. https://fintrac-canafe.canada.ca/guidance-directives/client-clientele/Guide11/11-eng#s21 https://fintrac-canafe.canada.ca/guidance-directives/client-...