5 ms·

Just learned of the 500 euro bill today. I need to fly to Europe more. Neat project

oefrha 3y ago
Seems insurance of the 500 euro note has already ended as it’s mostly used for crime. Kinda hard to imagine people using it anyway; in the U.S. you’re treated like a criminal if you pull out a $100 in shops.
- stavros 3y ago
  You have a typo, you probably meant issuance, and yes, it was a bit awkward to use because from a point on they needed to photocopy your ID to accept the bill.
- kybernetikos 3y ago
  I was told a few years back that it was commonly used to pay rent in cash. I certainly had a friend who assumed that second option from the bottom would give him the right amount of money on a cash machine and was very surprised by just how much he took out.
yrro 3y ago
I don't think they have any legitimate uses. Who else needs to move large quantities of cash around other than criminals?
- erfgh 3y ago
  Banks.
- bbu 3y ago
  ever bought a car in cash?
  - yrro 3y ago
    No
  - brmgb 3y ago
    It's soon to be illegal in most of Europe anyway. Cash payments are capped nearly everywhere nowadays with varying limits (sometimes you can do it but have to fill in a declaration above a certain amount) and there is a draft regulation in the EU which would cap them to 7000€ everywhere if the sender can't be identified.
- noelherrick 3y ago
  Really? I was just looking a Michelin starred restaurant and their tasting menu was 300 euros. I suppose you could pay with three different bills, but it's nice to be able to just carry one as well as smaller bills. An a flagship phone is a lot more, so if you want to buy it in cash, that's another very normal transaction that would a require a large stack that's not able to fit in a wallet.
  - yrro 3y ago
    I'd pay with my credit card like a normal person
- wave_function 3y ago
  I’ve heard the 500 euro note referred to as “the Bin Laden”
brnt 3y ago
Then you better get here quick because ECB've stopped printing them a while ago and are removing them from circulation: https://www.ecb.europa.eu/press/pr/date/2016/html/pr160504.en.html https://www.ecb.europa.eu/press/pr/date/2016/html/pr160504.e...

Seems insurance of the 500 euro note has already ended as it’s mostly used for crime. Kinda hard to imagine people using it anyway; in the U.S. you’re treated like a criminal if you pull out a $100 in shops.

stavros 3y ago
You have a typo, you probably meant issuance, and yes, it was a bit awkward to use because from a point on they needed to photocopy your ID to accept the bill.
kybernetikos 3y ago
I was told a few years back that it was commonly used to pay rent in cash. I certainly had a friend who assumed that second option from the bottom would give him the right amount of money on a cash machine and was very surprised by just how much he took out.

yrro 3y ago

I don't think they have any legitimate uses. Who else needs to move large quantities of cash around other than criminals?

erfgh 3y ago
Banks.
bbu 3y ago
ever bought a car in cash?
- yrro 3y ago
  No
- brmgb 3y ago
  It's soon to be illegal in most of Europe anyway. Cash payments are capped nearly everywhere nowadays with varying limits (sometimes you can do it but have to fill in a declaration above a certain amount) and there is a draft regulation in the EU which would cap them to 7000€ everywhere if the sender can't be identified.
noelherrick 3y ago
Really? I was just looking a Michelin starred restaurant and their tasting menu was 300 euros. I suppose you could pay with three different bills, but it's nice to be able to just carry one as well as smaller bills. An a flagship phone is a lot more, so if you want to buy it in cash, that's another very normal transaction that would a require a large stack that's not able to fit in a wallet.
- yrro 3y ago
  I'd pay with my credit card like a normal person
wave_function 3y ago
I’ve heard the 500 euro note referred to as “the Bin Laden”

brnt 3y ago

Then you better get here quick because ECB've stopped printing them a while ago and are removing them from circulation: https://www.ecb.europa.eu/press/pr/date/2016/html/pr160504.en.html https://www.ecb.europa.eu/press/pr/date/2016/html/pr160504.e...