Re:Cash payments above €3000 to be outlawed in Netherlands
by ryandrake on Wednesday August 23, 2023 @11:25AM
(#37237521)
Yea, assuming you're in the USA, I don't think a similar restriction would be workable here in America. Too many people are unbanked or for other reasons transact mostly in cash. And even for those who do have bank accounts, we don't have the nice, bank-based money transfer solutions that are commonplace in the rest of the developed world--we're stuck with shit-tier solutions like Zelle and Venmo and PayPal.
I wouldn't say I routinely do large (>$3000) cash transactions, but I do them often enough that I guess I'd be a criminal in the Netherlands.
Re:Cash payments above €3000 to be outlawed in Netherlands
by tekknik on Wednesday August 23, 2023 @08:54PM
(#37243857)
> we're stuck with shit-tier solutions like Zelle and Venmo and PayPal.
Hopefully not for too much longer:
Re:Cash payments above €3000 to be outlawed in Netherlands
by systems_glitch on Wednesday August 23, 2023 @11:27AM
(#37237569)
A mechanic we used before moving had a strict no checks policy. He had a bad check for the repair of a church bus, from a church, framed in a fancy gold-painted frame, with "IN GOD WE TRUST, ALL OTHERS PAY CASH" below it.
Re:Cash payments above €3000 to be outlawed in Netherlands
by nottorp on Wednesday August 23, 2023 @12:35PM
(#37238604)
But that's because you still use checks over there :)
Re:Cash payments above €3000 to be outlawed in Netherlands
by frumper on Wednesday August 23, 2023 @01:24PM
(#37239270)
A stolen credit card isn't any different.
Re:Cash payments above €3000 to be outlawed in Netherlands
by systems_glitch on Wednesday August 23, 2023 @03:55PM
(#37241277)
Considering that the last time one of my CC numbers was stolen, it was used to pay for air conditioning service, I'm sure that is also a concern for tradespeople!
Re:Cash payments above €3000 to be outlawed in Netherlands
by nottorp on Wednesday August 23, 2023 @04:26PM
(#37241521)
No pin? No 3d secure?
Re:Cash payments above €3000 to be outlawed in Netherlands
by allset_ on Wednesday August 23, 2023 @07:53PM
(#37243443)
In the US? Nope.
Re:Cash payments above €3000 to be outlawed in Netherlands
by systems_glitch on Wednesday August 23, 2023 @09:37PM
(#37244095)
Really really, it's like that here. I guess it's somehow cheaper to write off fraud than updating everything? Probably some actuary sweating the day the scale tips the other direction.
It's incredible how lax the rules are for how verified the CC information needs to be for a transaction to clear. There was a HN article about it not that long ago, w.r.t. dealing with Stripe or one of the other big processors. Stuff like the CVV can be wrong, the issued name can vary by some heuristic, etc.
Re:Cash payments above €3000 to be outlawed in Netherlands
by throwaway2037 on Wednesday August 23, 2023 @11:48PM
(#37244809)
You are paying a mechanic face to face with a stolen credit card? Man, this whole string of posts has become utterly farcical. <Adjusts tin foil hat>
Re:Cash payments above €3000 to be outlawed in Netherlands
by frumper on Thursday August 24, 2023 @12:33AM
(#37245027)
I’m confused. You’re under the impression people don’t use stolen cards face to face? The sibling commented about AC service being charged to his stolen card. A credit card is easier to use than a bad check. I’ve never seen anyone take a check without ID.
Re:Cash payments above €3000 to be outlawed in Netherlands
by systems_glitch on Thursday August 24, 2023 @08:12AM
(#37247890)
Yeah, apparently people do that. I write "ASK FOR ID" in the signature area on my credit cards, and have never once been asked for ID, so it's at least been my personal experience that no one really looks at a credit card when handed one. Perhaps it's a totally unique and isolated experience :P
I have had multiple cash transactions above $3,000 every year that I've done this. Not to avoid taxes, not to keep them off the books, but because one of the parties has either the unwillingness or inability to take electronic payments. Elderly people, those located in rural or otherwise isolated areas, those with a natural distrust of government for whatever reason, or those with a distrust of banks in general. These are all valid use cases.
This law would make it nearly impossible for me to do what I do (on the side).