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#11
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richard schumacher wrote:
In article , "Dik T. Winter" wrote: How do you propose the Dutch pay for, say, a 5000 Euro second-hand car? Both parties go to the buyer's bank and transact a cashier's cheque. Does not sound very convenient to me. Then again, when buying a car, I would not pay cash either, at least not the entire amount. In Germany it is common, if you buy from a local dealer, to pay part of the amount in cash or with plastic, and then transfer the rest. (Unless you buy credit based of course.) Now if you buy a used car at a "parking lot market" or via the Internet (ie. "private" sales), that is different. In the first case, the seller usually wants to see cash, in the second case (particularly when the seller is in another country) you will want to avoid any insecure kind of payment. Christian |
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#12
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richard schumacher wrote:
In article , "Dik T. Winter" wrote: Checks are almost not used in the Netherlands. Well that seems rather silly. Why are they not? What sense do checks make? They may have been useful in the times before direct debit and money transfer. As far as I remember I wrote maybe half a dozen checks in the late 90s, and exactly one in the past three years. All other transactions were cash (for F2F payments of relatively low amounts), direct debit/direct transfer or debit/credit card payments. Surely people and institutions don't enjoy receiving high-denomination counterfeit notes. Which is why pretty much any bank uses testing devices for such purposes. Beyond a certain limit (here in DE that is ¤15,000 I think) identification is required anyway. Christian |
#13
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The only parties who "need" a note of this size 500 euros - presently
600 dollars+) are those involved in drugs and perhaps tax evasion (perhaps the second hand automobile transaction was done in cash to avoid taxes?). And what would really be the problem with paying 5000 euros in 100 fifty euro notes, really? If any single note was a counterfeit, the loss would be much less. I don't think that members of this group are really aware of all the resources the federal government is presently devoting to identifying large cash transactions and suspicious activity reporting. Yes, part of this effort is to counter terrorism; but a lot of it is to keep American society from being totally corrupted by drug money the way that has already happened in several other countries. Perhaps the Netherlands is on its way to being like Columbia. As stated earlier, the 500 euro note is a pox on the international economy. |
#14
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#15
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oly wrote:
The only parties who "need" a note of this size 500 euros - presently 600 dollars+) are those involved in drugs and perhaps tax evasion (perhaps the second hand automobile transaction was done in cash to avoid taxes?). Not everything that is uncommon or unknown in your country does automatically have a criminal background g. As stated earlier, the 500 euro note is a pox on the international economy. Yes, you claimed that earlier. Too bad the ECB does not listen. Nor did the German central bank in the DM years when we had the 1000 mark notes, worth about 510 euro. Nor does the Swiss central bank - the 1000 CHF note, which will also be part of the new series, is worth about 650 euro or 800 US dollars. Christian |
#16
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richard schumacher wrote:
Doesn't the same argument apply against large denomination notes? If direct debits and transfers are so easy and popular, why issue large notes? They seem like a pointless risk, an invitation to counterfeiters. But cashless payments, especially but not only across borders, can be manipulated too. And actually the high value notes are not really inviting as far as counterfeiters are concerned. About 70 percent of the counterfeits in Euroland are ¤50 notes, simply because they are less frequently/thoroughly checked in everyday transactions ... Christian |
#17
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That's a good thing. Maybe it will help to devalue the Euro.
"stonej" wrote in message oups.com... http://www.zaman.com/?bl=economy&alt...50910&hn=23909 |
#18
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In article richard schumacher writes:
In article , "Dik T. Winter" wrote: Checks are almost not used in the Netherlands. Well that seems rather silly. Why are they not? Surely people and institutions don't enjoy receiving high-denomination counterfeit notes. One of the reasons is that cashing checks can be quite expensive. The other reason is that on some accounts checks have never been issued. I started in the 1960s with a Amsterdam municipal giro account, no checks. When that merged with the Postal giro, still no checks. I think that currently there is no Dutch bank that issues checks anymore. (And another problem is that when you receive a check, how do you know that it is covered?) -- dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131 home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/ |
#19
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In article richard schumacher writes:
In article , "Dik T. Winter" wrote: How do you propose the Dutch pay for, say, a 5000 Euro second-hand car? Both parties go to the buyer's bank and transact a cashier's cheque. Cashier cheques do not exist in the Netherlands. Moreover, it would be quite inconvenient if you have to drive a few hundred kilometers to get at the buyer's bank (yes, some banks are very local). -- dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131 home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/ |
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