- Thread starter brightspark
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Parm
Respect The Sound System
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I'm sure some other country in the world has done a similar thing recently; they took all large-denomination notes out of circulation altogether, meaning that you had to put yours where they could be seen. Was it Malta?
Perhaps, but also happened in India when I was there in 2017.
It’s a cash society with large amounts of dodgy money. All high denomination notes scrapped, all of a sudden banks got very busy with deposits before deadline day.
Huge amount of taxes payed and some folk banged up
eLuSiVeMiTe
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Would be busy in town centers with builders vans if they did that around here.often get asked for a cash price.
I bung 50 quid in top to cover the faf of getting it in the bank. No good to me under the matress.
Parm
Respect The Sound System
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No point coming round yours then, lol
badabec
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From Bank of England 'We have issued a new £20 note made of polymer. You can still use your paper £20 notes for now. We’ll give you 6 months’ notice of the date you’ll no longer be able to use the paper £20.'
So, plenty of time to spend those £20 notes on wine, women and song, and waste the rest.
Peter
So, plenty of time to spend those £20 notes on wine, women and song, and waste the rest.
Peter
Wedg1e
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Wallace
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What a hypocritical society we live in that upon the WWW we can openly complain to the world about not being able to hide our Tax Evasion, fraud and money laundering. Never mind, the Tax not paid can come out of someone else’s pocket to pay for the NHS treatment needed to cure the illnesses accrued from spending the proceeds crime.
gaz1
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oh i agree money laundering at the top by the rich with nice tax breaks while the poor get accused of it while trying to survive
even the law side of it is bent as hell
MattF
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cheb
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TBF it might not all be from tax evasion, some might be the proceeds of other types of crime.
premmington
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Don't work... Due to money laundering laws - if you go to change money - they pay it into your account and then debit it - leaves a paper trail.
My advice would be buy Gold with your paper twenties - as it peaked at its highest price of all time - this week - £1308 an OZ. World is in fear of the corvid 19 virus.
Production is down in China - the Chinese Yuan is dropping in value - and we in the west are dependant of cheap Chinese produced goods - Chinese workers are locked away in their houses doing nothing.
addjunkie
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It would be a nice problem to have - loads of cash lying about - but small car mechanics sometimes struggle to feed themselves let alone save cash up
Cash is not King anymore....!
Thats because you keep buying gold.
If you have a stash, Id just live on it for a while. So you just draw slightly less out, and maintain your living standards, stash reduces, savings increase officially.
Cash is actually a pain these days, banks closing, those daft machines everywhere they want you to use. Asking you where it came from when you pay it in. Asking you why you want it when you get it out the bank, if you want large amounts you have to pre book it.
steveo3002
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what sort of numbers ring alarm bells? ive had 4k laying around after a car sale waiting to pounce on another used car , but nothings come up for ages so might have to swap that for new notes
Having previously worked for banks and "UK wide law enforcement" organisations I've had a fair bit of training on this. Basically any amount can be "reported" if the organisation employee is suspicious, but anything over a grand will start to raise interest. It is an offense not to report suspicions and also to warn someone that you will report them. Staff get told to report everything and CYA. The agencies being reported to get a bit overloaded and have to get creative with sorting the wheat from the chaff.
The banks take it pretty seriously. My job was IT for sending out junk mail but I still had to pass the mandatory money laundering training on my first morning, before I was allowed to do anything else.
So, pay in £4K and you might find the bank staff have a social chat about what the money is from, just freindly like. They might report you, but unless you are doing it often or have "markers" on you then it won't amount to anything. Middle aged bloke paying in £4K from a single "car sale" is pretty common, but a 17 year old youf paying in £4K weekly for a "car sale" isn't.
Pigeon_Droppings2
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Cash is pretty dirty I think...I mean in the bacteria sense. Personally I'll avoid handling it over next few month with all the Corina stuff going around.
What I've found is the people who scream and shout about billionaires...when you get down to brass tacks...they tend to be people not paying a lot themselves....dunno why but been my personal experience.
What I've found is the people who scream and shout about billionaires...when you get down to brass tacks...they tend to be people not paying a lot themselves....dunno why but been my personal experience.
I throw all the loose shrapnel, coppers, 5ps, 20ps etc into a big tub, when it gets full bag it all up and take it to pay in the bank, takes months to fill, longer sometimes. Last time I went in they said they won't take more than 10 bags of change so for coppers there's a quid in each one, 5 and 20p a fiver so small amounts still, these are the sorted out little plastic money bags. They did it for me that time as a one off but in future they won't.
Cash will be gone within the decade, maybe sooner.
