Cash

[mintotaint]

Forester said:
A little misunderstanding, as I can see. I was asking about the total sum that you want to convert into cash. (So, whether you want to perform this for three months, a year, or forever 🙂 )
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Oh, just for about a year

 

[Forester]

Morrad said:
Oh, just for about a year
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Well, it means something like 120-160k. Uhm. It's a boundary case, I would say. So it depends on an EMI. If you go for some reasonable EMI for such a use-case like BlackCatCard (or perhaps Verifo or Zen; another members' input appreciated 🙂 ), you can be fine.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[mintotaint]

Forester said:
Well, it means something like 120-160k. Uhm. It's a boundary case, I would say. So it depends on an EMI. If you go for some reasonable EMI for such a use-case like BlackCatCard (or perhaps Verifo or Zen; another members' input appreciated 🙂 ), you can be fine.
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Thanks alot, I appreciate it!

 

[Forester]

Morrad said:
Thanks alot, I appreciate it!
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You are welcome.
And perhaps, if you can afford to perform it for a longer time and usually do not withdraw more than 10k / month, your chances to slip under the radar are quite high.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[donald1234]

Martin Everson said:
Yes Pott Change in Netherlands works well for large amounts and works with cash pickup.

https://www.pottchange.com/en/money-exchange/order-currency/
You get to sit down in nice private room and count your cash before leaving. Very good for those traveling to developing countries where physical cash is often the norm.
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never heard about that stuff.
So basically i can order USD, pay them by bank transfer and pick up the cash later? They do not report from a certain amount?

 

[wellington]

It must have been a money launders paradise... shocking such a service could even exist today.


Anyway, "Must have Been".

New regulations for exchanging currency from the 1st of April 2020 and onwards.​

The Dutch Banking system (De Nederlandsche Bank, DNB) has enforced the following set off rules for exchanging currency in the Netherlands:

• Compulsory proof of identity for exchange transactions with a value of 2,000 euros or higher.
• For payments with PIN from 2,000 euros, we are obliged to check whether the bank card is linked to your name. Please make sure that the amount to be paid is in your own bank account, because payments with the pass of your partner, housemate, “a friend” or otherwise are unfortunately not possible. Fortunately, most banks nowadays make an amount immediately visible in your account when it is transferred.

We accept all passports, European identity cards, Dutch driving licenses and Dutch foreigners documents as valid proof of identity.

To be on the safe side, always bring proof of identity, even with lower amounts you can be asked for a proof of identity. For transactions off 2,000 euros or higher, it is mandatory at all exchange offices and banks to show your proof of identity.

If you have any questions about the exchange of money or about the identification obligations, please feel free to contact us at 020-6263658 or send us an email: [email protected]

Other details when changing larger amounts of money or currency:​

• If you want to exchange a large amount of currency, we can often offer you a better rate, ask for the possibilities!
• When exchanging a large amount of currency, it is useful to bring proof of the origin of the money. Think, for example, of a withdrawal from a bank abroad. Pay slips or invoices if you have worked abroad. Invoices of sold goods, donation documents or other notary documents for the sale of real estate etc. can also be requested. If you do not have / do not have the proof off withdrawal anymore, please contact us to see what you can supply.
• If you want to buy a larger amount of currency, please pay with PIN *. If you have already withdrawn the euros or have received it in another way, please take the withdrawal receipt with you or print it out via a screenshot of internet banking of your bank account. For more information, please call us at 020-6263658.
• If you are going on vacation and want to buy a larger amount of currency, please bring copies of the booking or tickets with you if the booking has already been made. For questions about this, call or email us on 020-6263658 or email to [email protected].

* For a payment with PIN (usually from 2,500 euros) you often have to increase the day limit for “payment” at your bank. Please note that you choose “pay” and not “withdraw at ATM machine”, you have to get the amount “out of the wall” in cash instead of paying at our machine, and you don't want that. At your bank you can often arrange the increase of the limit online or via internet banking. If you have any questions about this, please call or email us or contact your own bank.
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[Martin Everson]

bru1234 said:
So basically i can order USD, pay them by bank transfer and pick up the cash later?
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Yes

bru1234 said:
They do not report from a certain amount?
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Not sure to be honest as a lot has changed these days.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[12345]

Morrad said:
Yes, that won't be a problem. But isnt there going to be a loss in the proces? Ans where would you recommend to buy the Gold coins from?
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1 oz gold coins bought online and sold for cash at the exchange - loss is 2-3% in my case

 

[Forester]

wellington said:
It must have been a money launders paradise... shocking such a service could even exist today.
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Yes, money laudering via this is probably not very easy now 😉 ”“ but it really exists nowadays e.g. in PL and IMO in CZ, too.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[troubled soul]

everything everywhere is a shitshow behind the scenes, always has been, always will be

 

[donald1234]

wellington said:
It must have been a money launders paradise... shocking such a service could even exist today.


Anyway, "Must have Been".
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So as far as i understand, this solved the topic as the bank account was a company one. And they will not accept incoming bank transfer from a company, they will request bank account at customers name.

12345 said:
1 oz gold coins bought online and sold for cash at the exchange - loss is 2-3% in my case
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where can you buy this? Is it then delivered at home? 🙂

 

[12345]

bru1234 said:
where can you buy this? Is it then delivered at home? 🙂
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Yes there are online stores in my country, try to google it in your area