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Re:EU-wide maximum limit of €10K for cash payments by CosmicShadow on Saturday December 10, 2022 @05:45PM (#33937823)
I'm still not sure who buys a car that expensive with cash, seems sketchy, inconvenient and unsafe. I wouldn't take cash if someone wanted to pay me that much, in fact someone did, they paid me for a contract with $5000 in used 20s and it was really fucked up, I didn't know how to get it into a bank or use it for anything without setting off alarms.
Re:EU-wide maximum limit of €10K for cash payments by olivermarks on Saturday December 10, 2022 @05:50PM (#33937874)
Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment.

Suggesting laborious bureaucratic transactions over several days removes this common occurrence in that world, along with at many other gatherings of specialists - antiques, pedigree animals, whatever

Re:EU-wide maximum limit of €10K for cash payments by Teandw on Saturday December 10, 2022 @06:10PM (#33938063)
"Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment."

If I send a 10k payment to someone via bank transfer it's in their bank account in 10 seconds. Maybe you live in a country where there are much harsher restrictions?

Re:EU-wide maximum limit of €10K for cash payments by olivermarks on Saturday December 10, 2022 @06:19PM (#33938118)
I live in the US and UK/Europe. The vast majority of older people at a swap meet or similar are not going to trust smartphone app transactions. Cash is king.
Re:EU-wide maximum limit of €10K for cash payments by Teandw on Saturday December 10, 2022 @07:44PM (#33938716)
They don't trust a smartphone app provided by their banking provider but they trust a random bloke they've never met with 10k in their back pocket. Right. Makes sense.
Re:EU-wide maximum limit of €10K for cash payments by Zircom on Saturday December 10, 2022 @08:45PM (#33939130)
Scenario one - Person A bank transfers Person B $10,000 for their classic car at the car show. Person A leaves, and then several days later the money is clawed back from Person B's account as it turns out it was sent from a stolen/compromised account. They now have no money and no car.

Scenario two - Person A gives Person B $10,000 in cash for their classic car at the car show. Person A leaves, and Person B could give a shit about anything to do with Person A as soon as they are out of sight.

Re:EU-wide maximum limit of €10K for cash payments by martin8412 on Sunday December 11, 2022 @06:21AM (#33942260)
In scenario two, person B goes tries to use the cash, turns out it's counterfeit. They now have no money and no car.
Re:EU-wide maximum limit of €10K for cash payments by wbl on Saturday December 10, 2022 @08:01PM (#33938834)
You don't need to trust the person when they have cash
Re:EU-wide maximum limit of €10K for cash payments by tormeh on Saturday December 10, 2022 @09:06PM (#33939280)
How do you know the cash isn't fake?
Re:EU-wide maximum limit of €10K for cash payments by lmz on Monday December 12, 2022 @12:21AM (#33951175)
UV lights and checking the safety features?
Re:EU-wide maximum limit of €10K for cash payments by 1337biz on Saturday December 10, 2022 @07:24PM (#33938583)
It is about speed. If someone offers 10k in cash and someone talk about wire transfer blahblah, sellers will always prefer the buyer just paying in cash.
Re:EU-wide maximum limit of €10K for cash payments by sheepdestroyer on Saturday December 10, 2022 @07:50PM (#33938752)
We are talking 10s bank transfers here in EU, how much faster do you want it?

I would not feel at ease walking around with 10k€

In fact I would find it extremely suspicious if someone told me it's their preferred method to get paid. I would totally expect a mugging.

Re:EU-wide maximum limit of €10K for cash payments by 1337biz on Saturday December 10, 2022 @07:59PM (#33938821)
If they pay by transfer they can charge back, the bank might cancel for some credit reasons, might flag it as they want to verify first why it was made, and so on. Cash is problem free if you live in a low crime area.

I do myself all higher priced purchases in cash, even go to the bank and withdraw the money to go to the shop next door. For the same reason I use a VPN. My provider and my bank have no right know what I do or not do.

Re:EU-wide maximum limit of €10K for cash payments by bonzini on Sunday December 11, 2022 @01:08AM (#33940574)
None of that can happen with instant bank transfers. If the bank says it's cleared then it's cleared and it cannot be charged bank anymore.
Re:EU-wide maximum limit of €10K for cash payments by WastingMyTime89 on Tuesday December 13, 2022 @12:23PM (#33972181)
Charge backs don't really exist in Europe. The bar to clear for your bank to reverse a payment is extremely high.
Re:EU-wide maximum limit of €10K for cash payments by WastingMyTime89 on Tuesday December 13, 2022 @12:22PM (#33972154)
I'm always taking the wire transfer any day of the week. Nowadays, I generally straight up refuse payment in cash. Far too much of a hassle to handle. I think there is a major cultural divide between some parts of Europe and the USA on this subject which is partially due to how behind its time the USA banking system used to be.
Re:EU-wide maximum limit of €10K for cash payments by Matthias247 on Saturday December 10, 2022 @08:12PM (#33938900)
I would not. I don't want to be concerned with whether any of this is fake money or how to detect it and hugely prefer an electronic transfer.
Re:EU-wide maximum limit of €10K for cash payments by The_Double on Saturday December 10, 2022 @09:02PM (#33939253)
If someone would offer me 10k in cash instead of a bank transfer I would assume they are a criminal anyway...
Re:EU-wide maximum limit of €10K for cash payments by xxs on Monday December 12, 2022 @11:12AM (#33956295)
nonsense - if i get cash i will have to deposit it myself. I suppose that part comes depending how cashless the society has gone.
Re:EU-wide maximum limit of €10K for cash payments by Teandw on Saturday December 10, 2022 @07:45PM (#33938719)
You must be very slow using your phone.
Re:EU-wide maximum limit of €10K for cash payments by macNchz on Saturday December 10, 2022 @07:41PM (#33938687)
I bought a somewhat rare car with cash several years ago. The seller had a buyer lined up across the country (and showed me evidence), but said that if I could bring him cash he’d sell it to me instead. I went to the bank, brought him an envelope of $100 bills, and it was mine.
Re:EU-wide maximum limit of €10K for cash payments by ithkuil on Saturday December 10, 2022 @07:48PM (#33938738)
> I went to the bank [..]

Would a certified check so the same trick?

Re:EU-wide maximum limit of €10K for cash payments by kube-system on Saturday December 10, 2022 @09:10PM (#33939310)
No, that's actually a popular scam at the moment. People think certified/cashiers checks or money orders are trustworthy. They can be faked.
Re:EU-wide maximum limit of €10K for cash payments by ithkuil on Sunday December 11, 2022 @02:36AM (#33941061)
Then perform the exchange in a bank, under a similar arrangement as the cash transaction of the scenario I was replying to.

Cash can be faked too

Re:EU-wide maximum limit of €10K for cash payments by kube-system on Sunday December 11, 2022 @02:39AM (#33941079)
Agreed, transacting in a bank is the best way.

Cash can be faked but it has good anticounterfeiting features, unlike checks.

Re:EU-wide maximum limit of €10K for cash payments by macNchz on Saturday December 10, 2022 @09:40PM (#33939523)
The seller can turn around and spend the cash instantly, anywhere, whereas the cashier’s check takes at least a day to clear, and in theory the bank could hold the funds for some period of time while it investigated the transaction for fraud. https://www.helpwithmybank.gov/help-topics/bank-accounts/cas...
Re:EU-wide maximum limit of €10K for cash payments by ericd on Saturday December 10, 2022 @06:58PM (#33938389)
Why? Just take it to the bank and give them the envelope(s). That's not a large amount of money to a bank. They drop it in a counting machine, and it blitzes through that amount in a few seconds.

It's probably a good idea to have some reasonable amount of cash on hand for times when electronic payments aren't available for whatever reason (natural disasters, for example).