5 ms·

Wow Greece has a limit of 500 euro, but: "There is no cash limit for car purchases" wth? EDIT: Also this something that I didn't know about the UK > With re

by sakisv 3y ago

Wow Greece has a limit of 500 euro, but: "There is no cash limit for car purchases" wth? EDIT: Also this something that I didn't know about the UK > With regard to the change, there are unlimited payments of £ 5, £ 2 and £ 1. Coins with a face value of 50p, 25p and 20p can pay amounts up to £ 10, with 10p and 5p up to £ 5 and with 2p and 1p up to 20p.

hef19898 3y ago
That's because a lot of used car sales p2p, and in cash. Reason being, normal people usually do not have terminals to pay by card (which has limits as well), and doing a wire transfer is somewhat risky. Either because the seller is left without money nor a car if the wire transfer is stopped by the buyer, or the buyer is left without a car and money, if the wire transfer goes through but zhe car doesn't show up. Sure, that can be resolved, but it is a major pain. Exchanging cash for keys and papers so is saver for everyone involved. And depending om zhe car, the amoints can he pretty high. Car dealers, used or new, are different so.
seydor 3y ago
The most corrupt countries tend to have the worst limits. In greece for example real estate sellers will try to officially declare a price much lower than the real one to the taxman, taking the rest in cash under the table. That's why there are government-appraised, official "objective" prices according to which real estate is taxed
- ilyt 3y ago
  Also common for car purchases. Put lower amount on documents to pay less tax. Which often causes problem when the cars is defective and seller goes "sure, I will pay you back in full, the amount that is on documents". And buyer got no recourse for that.
michaelt 3y ago
> "There is no cash limit for car purchases" wth? Cash isn't great, but some people don't use online banking - and in a private sale, only a fool would hand over their car keys to a stranger in exchange for a cheque. (Of course, this was a much bigger issue 15 years ago - these days we have faster payments, and the vast majority of people can make payments from their phone.)
- xxs 3y ago
  >Cash isn't great, but some people don't use online banking This is the US version of the events. I don't know all EU member states in detail, but I can't think of one where it's possible to receive salary/pension in cash. Cheques have not been a thing for 20y+, I wonder if they are still issued.
  - Y_Y 3y ago
    In Ireland, for example, it is possible (and popular) to receive state pensions in cash.
    - xxs 3y ago
      Point taken. Wouldn't that make elderly people an easier target for assaults?
      - ttrrooppeerr 3y ago
        If you have a criminal mindset, yes. Otherwise, let them be and be happy.
      - declan_roberts 3y ago
        Probably harder to steal their cash than for a hacker to phish their bank accounts.
        xxs 3y ago
        totally different set of criminals, also bank accounts are generally much, much harder to take over. The money is easy to track, and it can be reimbursed.
  - rootusrootus 3y ago
    > This is the US version of the events. By far the most common method of receiving income from an employer in the US is direct deposit. For people who refuse, the fallback position is typically a card (essentially a refillable gift card). Checks still do exist, but primarily for one-off payments where the payer and payee don't have much of a relationship.
itronitron 3y ago
Can I also pay in cars?
WindyMiller 3y ago
Those UK limits are for what is considered legal tender—that is, if someone has offered you 20 pennies to settle a 20p debt, you can't sue them for non-payment, but if they offered you 200 pennies to settle a £2 debt then you could.
tialaramex 3y ago
Because the decision as to whether to engage in a transaction with any particular customer is generally (short certain types of outright bigotry like "no Blacks or Irish") entirely up to the seller, it generally doesn't matter. Suppose I try to pay for this £12 crate of Coke cans with twenty four 50 pence pieces. The rule you quoted says that won't work, but it totally will in most cases especially at larger stores or if it's obvious I don't have any other money. On the other hand suppose I try to buy five £1 packs of Harribo bear candy with a hundred five pence pieces from the grumpy corner store guy who knows perfectly well I have a credit card. He's going to tell me to fuck off, and perhaps rightly so.

by sakisv 3y ago

hef19898 3y ago

That's because a lot of used car sales p2p, and in cash. Reason being, normal people usually do not have terminals to pay by card (which has limits as well), and doing a wire transfer is somewhat risky. Either because the seller is left without money nor a car if the wire transfer is stopped by the buyer, or the buyer is left without a car and money, if the wire transfer goes through but zhe car doesn't show up. Sure, that can be resolved, but it is a major pain. Exchanging cash for keys and papers so is saver for everyone involved. And depending om zhe car, the amoints can he pretty high. Car dealers, used or new, are different so.

seydor 3y ago

The most corrupt countries tend to have the worst limits. In greece for example real estate sellers will try to officially declare a price much lower than the real one to the taxman, taking the rest in cash under the table. That's why there are government-appraised, official "objective" prices according to which real estate is taxed

ilyt 3y ago
Also common for car purchases. Put lower amount on documents to pay less tax. Which often causes problem when the cars is defective and seller goes "sure, I will pay you back in full, the amount that is on documents". And buyer got no recourse for that.

michaelt 3y ago

> "There is no cash limit for car purchases" wth? Cash isn't great, but some people don't use online banking - and in a private sale, only a fool would hand over their car keys to a stranger in exchange for a cheque. (Of course, this was a much bigger issue 15 years ago - these days we have faster payments, and the vast majority of people can make payments from their phone.)

xxs 3y ago
>Cash isn't great, but some people don't use online banking This is the US version of the events. I don't know all EU member states in detail, but I can't think of one where it's possible to receive salary/pension in cash. Cheques have not been a thing for 20y+, I wonder if they are still issued.
- Y_Y 3y ago
  In Ireland, for example, it is possible (and popular) to receive state pensions in cash.
  - xxs 3y ago
    Point taken. Wouldn't that make elderly people an easier target for assaults?
    - ttrrooppeerr 3y ago
      If you have a criminal mindset, yes. Otherwise, let them be and be happy.
    - declan_roberts 3y ago
      Probably harder to steal their cash than for a hacker to phish their bank accounts.
      - xxs 3y ago
        totally different set of criminals, also bank accounts are generally much, much harder to take over. The money is easy to track, and it can be reimbursed.
- rootusrootus 3y ago
  > This is the US version of the events. By far the most common method of receiving income from an employer in the US is direct deposit. For people who refuse, the fallback position is typically a card (essentially a refillable gift card). Checks still do exist, but primarily for one-off payments where the payer and payee don't have much of a relationship.

itronitron 3y ago

Can I also pay in cars?

WindyMiller 3y ago

Those UK limits are for what is considered legal tender—that is, if someone has offered you 20 pennies to settle a 20p debt, you can't sue them for non-payment, but if they offered you 200 pennies to settle a £2 debt then you could.

tialaramex 3y ago

Because the decision as to whether to engage in a transaction with any particular customer is generally (short certain types of outright bigotry like "no Blacks or Irish") entirely up to the seller, it generally doesn't matter. Suppose I try to pay for this £12 crate of Coke cans with twenty four 50 pence pieces. The rule you quoted says that won't work, but it totally will in most cases especially at larger stores or if it's obvious I don't have any other money. On the other hand suppose I try to buy five £1 packs of Harribo bear candy with a hundred five pence pieces from the grumpy corner store guy who knows perfectly well I have a credit card. He's going to tell me to fuck off, and perhaps rightly so.