Vast Majority of European Citizens Doesn’t Want Cash Transaction Limits

LeGaulois

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Those limits suggested, and applied already in some countries are high. It's like 50 000€ daily. Who send 50 000€ to someone. The average Joe who wakes up at 6.00 am daily and going to work, will maybe never once in his life make a bank transfer above 50k€. The debate to say if it's an effective method to fight illegal activity is, of course, another thing. If if you want to send over 50 000€ it doesn't mean you can't, you just need to call your bank to say you will have a transaction more important than usual

Quote from: Joshua101101 on July 20, 2017, 07:06:42 AM

I do not like this idea at all, because after that they will control the costs with the crypto currency. The authorities want to make us slaves and monitor every financial transfer.

Can you explain how this is related to "the costs with the cryptocurrency"

Sweetbtc

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The European Union may not be able to Simply throw its arms up in the air and demand this in the man that however time will tell a different story.
Lets wait and see.

OROBTC

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...

Further in resisting the fall of cash, I think I will pop by an ATM and take out 150 euro today, just in case a hacker takes the banks offline (Bank of America had an outage of online banking just yesterday, although to my knowledge it did not affect ATMs). We are touristing in Europe now, how inconvenient if the banks start having big outages... Maybe I'll pick up a small gold coin as well today, smile.

"There is always someone around who will take [accept as payment] your gold." Even in Sweden. I'll ask around while there.

I'll also look for BTC ATMs that are supposed to be there. I presume you have to use cash to get your BTC...?

Joshua101101

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I do not like this idea at all, because after that they will control the costs with the crypto currency. The authorities want to make us slaves and monitor every financial transfer.

OROBTC

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Quote from: gentlemand on July 19, 2017, 10:03:34 AM

Quote from: ?? on ??

You're coming here not the other way around.
Who gives a fuck about your benefits.

Feel free to stay at home.

You're very strange. Do you happen to work for Visa by any chance? Or are you the embittered owner of a corner shop who doesn't like counting out their cash? What emotional investment do you have in denying people financial privacy?

Jammalan and gentlemand

As a disinterested American (other than enjoying the few days we will have in Stockholm), I will check out the city as much as I can and report back with my impressions.

I sure as hell do not want a cashless society, that's for damn sure. The single worst step to a 1984-style totalitarianism IMO.

Besides, crooked government officials WILL have some kind of alternate system where THEIR transactions are not tracked, that's also for damn sure. Count on it.

Qunenin

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The European Union and its economics is controlled by a much different set of circumstances and controlling entities than that of the United States. In the United States we can pretty much do what we please within a certain set of the stigmata. The United States government is always more interested in pleasing the powers-that-be that and pleasing the outside world.

eternalgloom

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I would also be opposed to this as a European citizen.

That said, it's definitely not yet a sure thing that this measure will come through, though chances might be pretty high that it does.

I also wouldn't have thought that the European cookie law wouldn't have been passed, but it did and now they're looking to end it again Roll Eyes

wuvdoll

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Quote from: Netnox on July 18, 2017, 01:03:07 AM

If they are banning the cash transactions, then they should make digital payments completely free. But that is not the case. They are charging very heavy fees on these online transactions, and on top of that they are taxing these transactions.

I have the same opinion and I believe that cash transactions will never be banned. They are the great ways to earn for government. No government would like people to make all transactions online. The banks will in complete loss then. I really feel the same about online transaction fees and taxes. For online transactions, bitcoins are the best options since there’s no tax on them for they are decentralized.

HeRetiK

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

Oh they will, all in the name of preventing money laundering. Because no money laundering ever takes place in banks, and because people that have cash to launder care about transaction limits. Ah well. I still prefer the EU to the fragmented clusterfuck of states and currencies we had before (it's still a clusterfuck, but less fragmented at least).

Quote from: ?? on ??

In Sweden we have no cash

Didn't know that Sweden already went cashless. Did it just happen out of convenience because people weren't using cash anyways, or was this more of a top-down regulatory decision?

gentlemand

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Quote from: ?? on ??

You're coming here not the other way around.
Who gives a fuck about your benefits.

Feel free to stay at home.

You're very strange. Do you happen to work for Visa by any chance? Or are you the embittered owner of a corner shop who doesn't like counting out their cash? What emotional investment do you have in denying people financial privacy?

Amph

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the limit was there because of money laundering, i remember this, and they reduced it over year, because it was always more easy to counterfeit cash

they are also planning to eradicate cash all altogether so i doubt they will listen to this, the future is digital payment and probably bitcoin

warrior333

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Is offensive to the rights of people around the world. I do not believe that people will listen to the government. For me, the attempt to establish a cashless society equivalent to war of the government against the people, and I will not sit back and watch.

Mandoy

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

If people will appeal and rally in huge number then maybe just maybe the union will hear them out and will amend the proposal. I have not read the whole document pertaining the cash limit but maybe the cash limit can also be overcome as long as certain requirements can complied just like other countries. EU must just be looking at implementing Anti-money laundering law which is to protect the economy from unregulated transfer of funds out of the country. Aside from that the EU maybe wanted to regulate their currency and to make sure that it is not being used in illegal activities. The proposal is good really but it must have also some considerations to businessmen to have a win-win solution.

merchantofzeny

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How would this go though? Are the limits only for cash, so they are still free to use their cards as they want to? Maybe that's the plan, wean people off cash?

Quote from: Netnox on July 18, 2017, 01:03:07 AM

If they are banning the cash transactions, then they should make digital payments completely free. But that is not the case. They are charging very heavy fees on these online transactions, and on top of that they are taxing these transactions.

Ouch, now that's making it look like they simply just want to make a profit out of this.

Netnox

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If they are banning the cash transactions, then they should make digital payments completely free. But that is not the case. They are charging very heavy fees on these online transactions, and on top of that they are taxing these transactions.

bitcoinvestor

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Each bank has its policy includind cash limit. The cash limit is also different from one to another bank. Every country also apply different limit too. that 's the problem of banking industries. The drawing uses ATM is also limited. Banks always use limit to mantain the cashflow and also apply goverment policy. If banks not limit cash withdrawal a money loundring will easily be done. The policy I think relate to financial crimes or terorism fund. Just gues not fixed analysa.

iamTom123

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There are many unelected European technocrats who are always churning out ideas and proposals which the people in the continent don't have anything nice to say. Of course, who would not want in his mind agree with this wild proposal? Yes, the use of money is an expression of our freedom and when you limit then you are essentially eating into a person's right of freedom.

Now wonder many are asking if these guys are really using their common sense or maybe there is an underlying reason for this and that is they are preparing a groundwork for a possible use of this idea in the coming years especially when an economic upheaval can threaten the Euro zone. In other words, they are just starting to condition the mind (as well as heart maybe) of the possible for this possible scenario.

Gradually, the big government is moving to control the people either subtlety or sometimes even openly.

megynacuna

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Quote from: botany on July 17, 2017, 07:58:28 PM

Quote from: sheld0n on July 17, 2017, 08:50:04 AM

The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

Yes, they will force it. What the government wants is very different from what the people want. There is a war against cash going on across the world and EU is no different.

I hope they will not exert any undue pressure on Bitcoin due to their war against cash. If their governments are st variance with the citizenry then it should tell us that decentralization as in the case of Bitcoin is the best if we want a fruitful financial sector.

botany

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

Yes, they will force it. What the government wants is very different from what the people want. There is a war against cash going on across the world and EU is no different.

OROBTC

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Quote from: ?? on ??

Quote from: OROBTC on July 17, 2017, 04:42:35 PM

We (an American couple) will be visiting Sweden very soon, I look forward to it very much.

I had read somewhere that fraudsters from all over have descended on Sweden to hack credit cards and ATM cards. Some of the very best from the world over. Sweden would seem to be a big fat target for such hackers as (I read) that such a high percentage of transactions are done by cards.

What is happening re ATM and credit card fraud there? Is it a big problem (yet)?

High percentage? More like 99%

Be sure to check each time the website of airline railway operator and so on if they do accept cash at the ticket office.
Most don't.
You can't get a bus ticket with cash any more, yhay is as far as I remember cause I haven't used a bus in 3 years or more.
Also a lot of small shops will say neah when you will pull out notes.
It's a pain in the ass for them to take cash payments as they have to make daily deposits and with just one customer it's a waste of time for 10 euros or so.

And problems are exaggerated and there was no such thing as a hack wave. Never heard of hackers coming to the country for that.
Why would you target Malmo with 300k population when you could target atms in NY where there are at least 5 million card holders.

LE.
Fuck I can't find a proper article in English and goggle translate sucks and I don;t have the time to do it myself.
Just google beggars and SWISH , and you will see how even beggars are dropping cash and going digital.

Thank you for the info re trying to NOT pay in cash, especially for small purchases. My wife had her credit card hacked recently, we just got its replacement.

An interesting comment from our travel agent: one of her best customers is an anti-money-laundering consultant. When he goes overseas, he pays for his hotel in advance by wire-transfer. We just paid for our hotel in Stockholm by wire-transfer, our other expenses in Sweden will be minimal.

With Sweden having been in the news over the past year or two (for other reasons), I am very interested to see how things are working out. YES, I saw your listing of rankings of Sweden and have long heard that Sweden is a great place. Looking forward to our visit.

Is it easy to buy Bitcoin in Stockholm?

gentlemand

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Visiting Sweden sounds like a giant fucking pain up the arse then. I'd leave with about £500 in extra debit card charges. I guess that's what they want. Why is this to my benefit?

OROBTC

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Quote from: ?? on ??

In Sweden we have no cash

God this is hilarious I feel like I'm smoking a joint here.

Pakistani and Filipino shitosters who whore themselves for 10 cents a post know better what's going in Europe and what Europeans should do.

Build toilets in your fucking 6th level garbage bins countries then talk about Europe.

We (an American couple) will be visiting Sweden very soon, I look forward to it very much.

I had read somewhere that fraudsters from all over have descended on Sweden to hack credit cards and ATM cards. Some of the very best from the world over. Sweden would seem to be a big fat target for such hackers as (I read) that such a high percentage of transactions are done by cards.

What is happening re ATM and credit card fraud there? Is it a big problem (yet)?

Hazir

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

Who do you think rules EU from the backseat? Yep, you guessed it, our beloved banking sector, they are behind every financial law proposed by EU.
The European Union has a history of enforcing bad laws and not listening to its citizens.
Prime example: current migrant crisis - EU officials decided to relocate refugees despite overwhelming records of the public opposition from the societies.

Hydrogen

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Is this what people refer to when they say we're losing rights and freedom?

I wouldn't mind if governments of the world decided to grant us more rights and freedoms, instead of limiting cash transactions and taking away the freedoms and privileges we already have.

gentlemand

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Of course they'll force it. That's been a long term desire of theirs for years and there are already plenty of restrictions in place. What's even more alarming is that we already have Greece and Cyprus to look to as examples of what they get up to.

iram1011

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So, Germany is following the suit of France and Italy. Government is claiming that by limiting cash transactions they would curb the money laundering and illegal activities. But the country where 79% transactions are done by cash, such implementation would face tough time. And as expected people aren't willing and opposing the decision. Lets see what it has to bring.

Iranus

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Quote from: grermezter on July 17, 2017, 11:31:48 AM

wouldn't the European Commission rather encourage the people to rather spend more money to boost their economy.

This is about physical cash. The stuff you hold in your hand.

Quote from: sheld0n on July 17, 2017, 08:50:04 AM

In fact, 95% of respondent indicates they are opposed to a cash ceiling.

Yeah, but do they really care? This is one of those situations where we'll all hear about it but the majority of the public don't understand just how worthless that kind of digital cash is.

If people can still spend cash on everyday items for small things, a lot of people won't notice the cap. Some of those who do notice it will still believe that bankers' digital money is an innovative new technology or that it's necessary to prevent money laundering.

Anyway, moving to a cashless society is just one small step towards the debt-based monetary system collapsing. It may take hundreds of years until it actually does, but it's got to happen sooner or later.

grermezter

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

That's not a very smart decision to introduce at all, Am intrigued to know what they plan to achieve by doing this, wouldn't the European Commission rather encourage the people to rather spend more money to boost their economy.

chixka000

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As i have alsways expected from the government limiting your transaction because of wanting to minimize the money fraud which is obviously the fact that that is not the solution. The more people spent a huge amount the higher their economy would be

OROBTC

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...

Cash is freedom. A forced .gov electronic crypto is bad for several reasons.

-- Credit and ATM cards are already being hacked -- big time -- in Sweden, the country furthest along to becoming "cashless"
-- Bank accounts could be frozen or seized by banks and .gov at will
-- ALL transactions would be open to .gov review...
-- If the electricity goes out in a storm...?

IMO it all depends on what Germany decides. The Germans really like cash. It might be hard for even an aggressive EU to implement if Europe's strongest country will not go along.

Theb

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I don't know what is the point of limiting cash transactions as it is a way to boost the economy not unless they want total control of it. Or are they doing it because they want to boost up credit transactions instead as a way to increase profits from taxes? Other than that it is really a bad move if all the participating european countries will have cash limits. Everything from overseas workers to its local citizens will be affected tremendously.

Mometaskers

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Money = freedom. And for a lot of people, money is simply cash.

What is the EU's excuse this time? Cutting down on terrorist funding?

The effect of this is that people would be forced to use their credit/debit cards more, meaning more data to track and sell. Let's just hope they are not shooting their foot (again) this time. This could put a hamper on consumption.

Quote from: sheld0n on July 17, 2017, 08:50:04 AM

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

You've heard of the "refugee" crisis? You heard of how Poland and Hungary are fighting against the quota?

The EU would do as it pleases.

olushakes

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Quote from: sheld0n on July 17, 2017, 08:50:04 AM

The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

I am sure no citizen in any country will want any form of restriction in what they can spend so far they got their money legitimately. Even the countries that there is cash ceiling, I am sure they didn't ask for the citizens opinion even over here, the Central Bank has been given so much power that they just push out policies as they like without even anybody to challenge such decision the moment and even force the banks to ensure implementation of such draconian policies. I am happy this is happening in one of the developed countries in the world.

sheld0n

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The European Commission is looking to introduce cash limits. Such measures could go into effect as soon as 2018. However, the vast majority of Europeans are not interested in this concept. In fact, 95% of respondent indicates they are opposed to a cash ceiling. This also means going cashless will not happen anytime soon.

When the European Commission allowed for feedback regarding the cash ceiling, most people knew the result already. Limiting the amount of cash value Europeans can spend at any given time is never a smart decision. Restricting payments at the EU level don’t benefit anyone. It’s bad for business, bad for consumers, and only beneficial to banks. After all, they want consumers and companies to become even more reliant on their services altogether.

Do you believe that the EU will force the limit despite the fact the a majority do not want it?

Topic: Vast Majority of European Citizens Doesn’t Want Cash Transaction Limits (Read 1093 times)