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I never met anyone who paid β¬10,000 in cash. Like, how is someone able to carry all that much? In a suitcase? You'd also be a walking target for robbery if someone knows you are carrying a suitcase with β¬10,000 in cash. That amount is life changing for most ordinary Europeans. β¬10,000 is not going to make someone rich, but it's going towards savings for someone financially wise enough.
Edit: people are talking about it's possible to carry β¬10,000 cash by saying they have β¬100 notes. But I thought they are out circulation precisely because of money laundering and criminal transactions?
Quite a few years ago I was in 'job learning' course from school in a local bank. They needed to move money to another bank across the street and there was some system update or interruption or whatever going on so it had to be done in cash. I don't remember the exact sum, but it was something like 300kβ¬. The lady who was assigned as my director took money (and counted it, made necessary paperwork and all the jazz) from the vault and put it in her purse in a bag meant for money transfers. It was roughly a book sized stack of bills which we then walked the short distance and the receiving bank made necessary paperwork on their side. I was there only because their insurance required there's two persons doing the delivery.
Also "a few" years ago I bought a car and the older gentleman who was selling insisted that I pay in cash. 7000β¬ can easily fit in your wallet.
Aren't those notes banned? I have never seen β¬500 and 200 notes in years. Unless...you are saying something....
20 β¬500 notes
50 β¬200 notes
100 β¬100 notes
No need to break out the luggage.
Aren't those notes banned precisely for the reason of money laundering? It has been twenty years since I've seen β¬500 note.
I had the idea years ago that we should ban notes outright, it would have to be coins and the highest denomination would be β¬50. You can still buy stuff that you'd need cash for, but it would make the black/shadow-economy more cumbersome. Or you'd get really strong criminals. π
Man what do you have against people using cash, Banks are untrustworthy as fuck. Who cares if "illegal transactions" occur, taxation is fucking theft anyways.
Many people think it's wise to do everything in cash, but actually there are fees for cashing in cheques instead of bank transfer. So in essence, you are, in a way, paying tax.
This comment is poorly informed. Private car sales use cash a lot. 10,000 isnt suitcase worthy. Any volume of cash of a target. β¬10,000 being life changing is suspect, in what regard is it specific to europeans.
Yeah fair enough. Someone mentioned they could carry β¬10,000, somehow, when I could barely fit wads of β¬50 bills in my wallet. So I doubted people paying in cash with β¬10,000.
β¬10,000 is a handsome amount of money to have. That's why I put the caveat "someone financially wise enough". From my experience, a lot of people spend more beyond their means, and then complain they can't afford a house or raise a family. I am no faulting people, but most of us have been conditioned with the old assumptions that working alone could allow us to travel, party in our youth, and then afford to save later for a home. Nobody taught us about inflation.
10,000 is just not what it used to be. For example if you are renting a house where you need a damage deposit and to pre-pay the first and last monthβs rent. That easily blows past 10,000 these days for a completely normal transaction. Same for most used vehicles.
Payment for surgery to doctors who arent allowed to be paid, in a failed universal healthcare system. Or doctors who want to tax evade. This is a necessity if you want your poorer country to keep any decent doctors. Because why would any doctor work for 1500β¬ when they can easily migrate and find a job for 10k+.
Because most people like living at home with their family and friends. Money isnβt everything.
Sure but there is a point where moving elsewhere becomes almost mandatory. For many highly skilled people in poorer EU countries, migrating to the Imperial core is a no brainer.
I have heard of people doing deals in cash and yeah that goes with a suitcase and armed proteciton most of the time lol.
I think you're missing the point.Just because you haven't heard of anyone doing it doesn't mean that this isn't still a right that you currently have being taken away.
We're in c/Europe....when was the last time someone has carried wads of β¬50 notes that total to β¬10k? The implication of my comment being A) doing just that is impractical, and B) people commented that one could carry β¬100 and β¬500 notes. Either they don't live in Europe and not realise β¬100 and β¬500 notes are banned because of the same money laundering issue. Or, C)they are criminals and somehow traded with those already banned notes! π€£π€£
Yep, I got that.