France bans use of cash for more than €1000 ($1060)

[Deleted]

Remember when some of you were having a giggle about the last couple of articles I posted on France's draconian changes in the last few months, and how I made it absolutely clear that it was just the start...

Well, look again: http://mobile.reuters.com/article/id...50318?irpc=932

From September onwards, people who live in France will not be allowed to make payments of more than 1,000 euros ($1,060) in cash, down from 3,000 now. The cap for foreign visitors, left higher for reasons that include facilitating tourism, will be cut to 10,000 euros from 15,000.

Any cash deposit or withdrawal of more than 10,000 euros over a single month will be automatically signaled to the Tracfin anti-fraud and money laundering agency.

The authorities will have to be notified over transfers of more than 10,000 euros - for instance cheques, pre-paid cards or gold - by freight within the European Union.

Someone changing more than 1,000 euros in cash into another currency will have to show an identity card, down from a previous threshold of 8,000 euros.

Coming to a democracy near you ....

[Deleted]

So TVs and stuff will cost you not more than 1k€ in France?

[Phookah]

So TVs and stuff will cost you not more than 1k€ in France?

There are different ways to pay for things other than cash you know.

[Deleted]

The last line of your citation shows it's not a ban. Your title is misleading.

Changing money at a currency exchange has nothing to do with making a payment. Try again.

Perhaps next time you should read the first line, you know ... first?

[poser765]

Honestly asking...Am I supposed to be indignant over this?

[Independent voter]

Credit purchases are easier to track and follow is my guess.

[TrumpIsPresident]

It probably took over 10,000 man hours of legislative time to put this together.

To say nothing of having it enforced.

Go 'gubment!

[Wythel]

So TVs and stuff will cost you not more than 1k€ in France?

We just use our cards starting at 1€... cash is mostly used by kids, seniors and for illegal stuff.

[Korgoth]

Whose using large sums of cash without identification.... oh right criminals, terrorists... good law.

[Poopymonster]

So TVs and stuff will cost you not more than 1k€ in France?

No Comrade Epsi, when you are to be making purchases requiring large amounts of money, you must be using card for credit.

This is making benevolent companies, who give you luxury of glorious card for minor fees, gateway to purchases requiring large amounts of money.

Interest will of course be charged by benevolent company.

Brothers of France are becoming more Americanized every day! Land of the Fees, home of the Paid.

[Korgoth]

No Comrade Epsi, when you are to be making purchases requiring large amounts of money, you must be using card for credit.

This is making benevolent companies, who give you luxury of gloriouss card for minor fees, gateway to purchases requiring large amounts of money.

Interest will of course be charged by benevolent company.

Brothers of France are becoming more Americanized every day! Land of the Fees, home of the Paid.

Someone needs to put down the socialist handbook and go get themselves a debit card. Its free at most places, it has no interest, and is accepted almost everywhere. Allowing you to make large purchases without cash, or check, or cashiers check, or Apple Pay...

[Kalis]

France wants to cut down on money laundering?! Those bastards!

[Korgoth]

But how else do I launder my cash I earned throught illegal means? :[

Bit Coin. G2A.com. Steam and Origin Keys

[Deleted]

But how else do I launder my cash I earned throught illegal means? :[

[Altrec]

Seems silly and kind of a low amount if you ask me, but whatever. I know a handful of people that prefer to use cash for most things, and here in the US some places even give you a discount if you pay in cash so I wouldn't want to see something like this here. France is of course free to do whatever silliness they want regardless of the outcome be it good or bad.

[Shakadam]

This sounds like a pretty good idea and a way to target money laundering, what are we supposed to get upset about?

Who the hell pays in cash anyways? I've literally never in my life paid more than ~300€ at once in cash. I keep like 5€ in my wallet for bus money because I'm too lazy to get a bus card.

[Forgettable]

People still use cash?

No seriously, the only things I ever use cash for are the (very rare) meal with a group of friends and everyone chips in cash and... Buying cars.

[icausewipes]

There are different ways to pay for things other than cash you know.

Thoughts went straight into the gutter.

@OP

Wonder if this has a tie to money laundering?

[Cyberowl]

Am I supposed to be upset?

I actually agree, if we had that in other countries we would have a lot less of those recent...troubles.

[Kujako]

So now rather then getting one 10,000 euro prostitute I need to get ten 1,000 euro ones?