undefined | Better HN

0 pointsNullPrefix7d ago0 comments

>They should probably not have a bank account at all and just stick to cash

Pretty much illegal in some parts of EU

0 comments

cenamus7d ago

Source?

Also how is it related to the EU if it only affects certain places? Could have just said certain places in Europe

derfniw7d ago

Illegal would by a hyperbole. But the noose is tightening a bit.

There are upcoming limits for cash transactions (10K, countries can opt to go lower), and strong requirements for identity verification at 3K or more euros in cash.

See: https://www.deloittelegal.de/dl/en/services/legal/perspectiv...

EDIT: The other side of the coin is that banks are _required_ to give legal residents of a country a basic account that can be used for payments.

hjadal7d ago

Also illegal in Denmark. You need a NemKonto by law. Also making cash payments over 15000 is illegal since 2024. So you can't make a large purchase without a bank transfer.

ekianjo6d ago

Such a huge invasion of privacy.

foepys7d ago

Not illegal per se in Germany but you won't find a legal job that doesn't require you to have a bank account. Benefits will also only be paid electronically (exceptions for some asylum seekers apply).

You also cannot get a tax refund or pay taxes without a bank account.

pfortuny7d ago

Spain: you must be paid through a bank if you

-have a steady contract -are paid more than 1000€ for a job (say you are self-employed).

pfortuny7d ago

Completely illegal in Spain if you have a paid job.

grishka7d ago

Not sure how it works in countries that didn't go through 80 years of socialism, but I assume that you're saying that in those countries, your salary is required to go to your bank account and can't be paid in cash. Then you can still pretty much "stick to cash" by withdrawing the whole thing on your payday. But then idk, maybe everyone in those countries is aware of the risks related to keeping their money in a bank, it's just the internet banking that introduces the new ones for them.

coldtea7d ago

>Then you can still pretty much "stick to cash" by withdrawing the whole thing on your payday.

Not if you want to make a purchase beyond a small amount, like $500 or $1000. Then it has to be through some fucking bank or CC.

pfortuny7d ago

All withdrawals of more than 1000€ in Spain must be accounted for and more than 5000€ must be authorized.

You "may" but maybe you "cannot".

j / k navigate · click thread line to collapse

0 comments

cenamus7d ago

Source?

Also how is it related to the EU if it only affects certain places? Could have just said certain places in Europe

derfniw7d ago

Illegal would by a hyperbole. But the noose is tightening a bit.

There are upcoming limits for cash transactions (10K, countries can opt to go lower), and strong requirements for identity verification at 3K or more euros in cash.

See: https://www.deloittelegal.de/dl/en/services/legal/perspectiv...

EDIT: The other side of the coin is that banks are _required_ to give legal residents of a country a basic account that can be used for payments.

hjadal7d ago

Also illegal in Denmark. You need a NemKonto by law. Also making cash payments over 15000 is illegal since 2024. So you can't make a large purchase without a bank transfer.

ekianjo6d ago

Such a huge invasion of privacy.

foepys7d ago

You also cannot get a tax refund or pay taxes without a bank account.

pfortuny7d ago

Spain: you must be paid through a bank if you

-have a steady contract -are paid more than 1000€ for a job (say you are self-employed).

pfortuny7d ago

Completely illegal in Spain if you have a paid job.

grishka7d ago

coldtea7d ago

>Then you can still pretty much "stick to cash" by withdrawing the whole thing on your payday.

Not if you want to make a purchase beyond a small amount, like $500 or $1000. Then it has to be through some fucking bank or CC.

pfortuny7d ago

All withdrawals of more than 1000€ in Spain must be accounted for and more than 5000€ must be authorized.

You "may" but maybe you "cannot".

j / k navigate · click thread line to collapse