German banks are hoarding so many euros they need more vaults

Re:German banks are hoarding so many euros they need more va... by reaperducer on Monday February 03, 2020 @06:50PM (#22230702)

I'm trying to think of places that would want to accept $500 to $1000 notes when many places won't even accept a $50 or $100 and consider them "large bills."

Landlords, for one. I'm in the process of leasing a new apartment and I am required to pay some of the fees with a debit card, and some with a cashier's check. It would be easier to just hand them a few large bills and be done with it.

Cash is dying and although I love convenience, I'm not entirely sure that's a good thing.

I try to use cash as much as I can. I also have active checking and savings accounts simply because I don't want to have a single point of failure.

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Re:German banks are hoarding so many euros they need more va... by Frost1x on Monday February 03, 2020 @07:04PM (#22230828)

Landlords typically don't accept cash for a variety of reasons. One is fraud but the other main issue is security for holding/transferring that cash and fact they have predictable schedules they'd have cash on hand.

I estimate the building I'm renting from right now would have anywhere between $650-750k or more revenue per month, most of which probably arrives in a one week or less window. That makes them a target for all sorts of potential thefts: employees, residents, burglars.

I've rented at many places and I've never once encountered a landlord that accepted or wanted to accept cash over secure electronic transfer methods, even for minor expenses like a consumer credit report check.

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Re:German banks are hoarding so many euros they need more va... by lotsofpulp on Tuesday February 04, 2020 @05:21AM (#22234061)

As a landlord, I would want a paper trail of all payments and interactions with a tenant due to the numerous landlord-tenant laws.

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