War5oldierMar 22

Is the new 200€ bill that common?

https://lemmy.world/post/44576488

Is the new 200€ bill that common? - Lemmy.World

I know that the 500€ bill ceases to exist on the new series of bank notes (as they capped it at 200€) variant but those who possess the older series with that denomination can still use it as legal tender, but is it that common for Europeans to have a 200€ in their wallet? 200€ is the second highest one, although the older 500€ bill is no longer in circulation. Do ATM’s disperse either 500 & 200€ bills regarding cash withdrawals within that amount or do they just give that amount in smaller denominations equating to that much?

Show threadFleppensteynMar 22
They’re very uncommon. I once got paid cash for fruit picking in France. It was the first and only time I carried 200 euro notes. No shop accepts them. ATMs give out 50 euro notes max.
Show threadWar5oldier

No shop accepts them. ATMs give out 50 euro notes

Will electronic stores accept either 100 or 200€ bills when purchasing an iPhone for 1,500€ upon paying in cash?

Mar 22 at 8:15amWeb
Show threadThorryMar 22

No, you’d be denied and probably reported to the police. Way too high of a chance of the money being counterfeit or of a less than legal origin. Buying stuff with large amounts of cash has money laundering written all over it.

It’s actually a big problem. On the one hand, almost no one uses cash (especially large amounts) and shops won’t accept it. But on the other hand, we would like to protect the privacy of people and forcing them to pay electronically can be a detriment to that goal.

Buying stuff directly with large amounts of cash is a big red flag. Even carrying large amounts of cash is a red flag. If you get stopped by police or at a border check or something like that, you’d have to have a good reason and the proper documents to explain why you are doing that. When crossing a border, large amounts of cash do have to be declared.

Paying electronically is so easy these days and there are so many methods, except for the privacy angle there really is no reason to use cash.

Show threadWar5oldierMar 22

Even carrying large amounts of cash

Can they seize (non-euro) money? For example: 20,000 Omani Rials (~45,105€)

Show threadThorryMar 22

Why exactly are you asking this? Are you planning something?

When you enter the EU with such a large amount of cash, you need to declare it at customs. You need the have the correct paperwork for having that money. If you don’t have the correct paperwork, you’d definitely be denied to cross the border. The money would be seized, but most likely you’d be able to get it back after filing the right paperwork afterwards.

Having that much cash on hand is a huge red flag for criminal activities, so it would generally be a good idea to avoid it.

Show threadWar5oldierMar 22
Nothing of nefarious intent. Rather, why does that exist in the first place if no one uses it? They would’ve stopped printing more if nobody was using that, but there’s a demand it seems.
Show threadThorryMar 22
Just go through a bank, that’s what they are for
Show threadmyotheraccountMar 22
It’s legal to buy things with cash. What would you be reported for? Of course if it’s fake cash, that’s illegal, but real cash is legal tender, and must be accepted, if it is reasonable. Buying 1.50 chewing gun with a 50eur bill? The shop does not need to accept it. Buying an item that costs 400eur using two 200eur bills? Perfectly reasonable.
Show threadThorryMar 22

Yeah it depends a lot on the situation and the sector as well. I think for stuff like car/motorcycle parts cash, even large amounts, are more common. Paying less than 1000 euro worth of stuff with the almost matching amount of cash would mostly be fine. Although 200 euro bills aren’t accepted everywhere and would definitely be thoroughly checked for counterfeit. But anything above 1000 euro would have eyebrows raised, especially if the person has multiple thousands on them in large bills.

They would be reported to the police for them to keep an eye out and/or do a check on where the money came from. It isn’t illegal on its own, but would warrant a check. In my experience many shops, especially in city centers, maintain good contact with the local police. And reporting such behavior is routine. They also report people acting weird in general, not because that in itself is illegal, but to point the police in the right direction.

Show threadcageythreeMar 22

Will electronic stores accept either 100 or 200€ bills when purchasing an iPhone for 1500€ upon paying in cash?

Having worked in one - yes, it’s no problem at all. If it’s too much (I think 3k was the threshold), a manager has to come and do a second run in the counterfeit detection machine, so it might take a while.
(Answering for Germany though, might be different in France)

Show threadDynamo MausMar 22
Depending on the country. In Germany most used cars are bought with cash
Show threadFleppensteynMar 23
It’s illegal to buy anything in cash over 3000 euros
Show threadRedditquazaMar 23
In which country? That sounds very strict. In Germany for instance you can buy anything you want with cash, you just have to show your ID and document the origin of the cash above 10.000€
Show threadFleppensteynMar 23
I thought it was EU law but apparently it depends on the country. It’s 3000 in Netherlands, Belgium, Portugal and other countries have other limits. But it’s not surprising this is not a thing in Germany, they really try to push for cash
Show threadLevsgetso6d ago
I didn’t know such laws existed. Apparently in Bulgaria it has been active since 2011 and currently the limit is 5112,92 €