3 ms·
Some countries like Denmark (starting 2020) have banned paying with the 500 Euro bank note. It's also no longer printed, but some 600 million of them still exis
by mtmail 3y ago
Some countries like Denmark (starting 2020) have banned paying with the 500 Euro bank note. It's also no longer printed, but some 600 million of them still exist. I've seen a documentary where (I think it was Swedish police) would like to ban 200 Euro notes as well.
- eru 3y agoThe only reason the 500 Euro bank note exists in the first place was that the Germans wanted a replacement for their 1,000 Mark note. (Apparently their reasoning was something along the lines of: what if you want to buy a car?) Meanwhile in Singapore we have a 10,000 dollar note (which is worth about 6,800 Euro at the moment.)
- trizuz 3y ago[dead]
- mikhailfranco 3y agoI think Switzerland and UAE also (with SG) have large notes, with some commitment to continue cash payments. Strange bedfellows in the fight for freedom, but all welcome to the cause.
- qsi 3y agoThe 10,000 dollar note remains legal tender in Singapore but is being withdrawn from circulation together with the 1,000 note: "Note: MAS has stopped issuing the following notes as a pre-emptive measure to reduce the potential money laundering and terrorism financing risks associated with large denomination notes: The $1,000 notes with effect from 1 January 2021. The $10,000 notes with effect from 1 October 2014. Existing $10,000 and $1,000 notes in circulation remain legal tender in Singapore and can continue to be used as a means of payment for goods and services." https://www.mas.gov.sg/currency/circulation-currency/circulation-currency-notes#:~:text=Existing%20%2410%2C000%20and%20%241%2C000%20notes,payment%20for%20goods%20and%20services https://www.mas.gov.sg/currency/circulation-currency/circula....
- Jiocus 3y agoWhat do you base this information on really? Neither Denmark or Sweden are part of the eurozone. Their currencies are Danish krone (DKK) and Swedish krona (SEK). My Sweden experience is that practically only exchange offices (and banks maybe) will touch cash euros. Edit: Sure, large players of the underground market might accept euros, especially in inter-European trade. But good luck "banning" them from using such and such notes among themselves.
- tuxone 3y agoFun fact, 500 euro bank notes are worth more than 500 euro as they are used to illegally move money (because of their high value/weight ratio). 550 euro 6 years ago, as per Nicola Gratteri https://www.youtube.com/watch?v=wugqeLgOPZM https://www.youtube.com/watch?v=wugqeLgOPZM
- kaladin-jasnah 3y agoAre Euros accepted in Denmark when the currency is the krone? I recognise that Denmark is part of the EU, but it has an opt-out for the Euro. Is it standard practice to accept Euros in general, be it 500 Euros or less in parts of the EU that have not adopted the Euro (eg. Sweden, Romania, the Czech Republic, etc.)?
- sunbum 3y agoLiterally accepted nowhere in Denmark except the most touristy for tourist traps, money exchange places, and the bank to exchange into DKK.
- sunbum 3y agoWell thats weird. Because Denmark doesn't use the Euro. Why in the world would it be accepted anywhere when it isn't used? Same goes for Sweden.