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Belgian banks demand proof of cash sources, while German ATMS do not print receipts (slrpnk.net)

submitted 3 days ago by ciferecaNinjo@fedia.io to c/Belgium

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Belgian banks have gone to the Orwellian extremes of outright refusing cash deposits without proof of source, even for small amounts as low as €50! The war on cash (war on privacy) is in full swing in Belgium.

At the same time, German ATMs are not producing receipts. My understanding of EU law is that the ATM must print a receipt if there is a currency exchange on the ATM’s side of the transaction (please correct me if I’m wrong). But I see no EU law requiring ATMs to print receipts generally. Some ATMs in Germany don’t even have printers; no slot for dispensing receipts. By extension, I suppose such ATMs must not be capable of offering dynamic currency conversion (which is bizarre because that’s where the most profit is in the ATM business).

In any case, it seems a bit off that you can get cash from a German ATM, get denied a receipt (you don’t know in advance that a receipt will not be given), and then you cannot deposit that cash in Belgium due to their nannying.

Or can you? What if you write down the ATM machine’s number, location, time, date, and amount. Would a log of that information serve to document the source of the cash to legal standards?

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[–] Boomkop3@reddthat.com 3 points 3 days ago* (last edited 3 days ago) (1 children)

I'm not too fond of Belgium's actions there. First tho: fact che king this.

Update: it's not true. You'd need to deposit 3000 for some checks

[–] ciferecaNinjo@fedia.io 1 points 3 days ago (1 children)

That does not seem to be the reality down on the ground. A guy was complaining about his 50 EUR cash deposit being refused because he could not prove the source.

Maybe you are thinking what the law mandates, in a situation where banks are free to be more extreme than the law? A lot of banks generally try to be “overachievers” when it comes to legal compliance because consumers are pushovers and regulators only care about the legal infringements that concern the state and not consumers. Some banks refuse cash deposits entirely and outright. So if that’s legal, why would it not be legal to demand proof of source on a deposit of €50?

BTW, if you find a bank that minimally complies with the law and gives the full legally permissible amount of privacy to customers (and respects GDPR data minimisation laws), please let us know! I don’t think such a thing exists.

[–] Boomkop3@reddthat.com 2 points 3 days ago

Yes, I do. It's bunq, an American bank that operates in Belgium and the Netherlands. But, you're absolutely right, some banks might be doing differently than required.

I live 15 minutes from the border of Belgium. I'm just going to go check. I'm hoping it's a thing that's not everywhere.

Also also, it might be that the 50 euro guy got stuck there after a whole bunch of transactions that month