I know that the 500€ bill ceases to exist on the new series of bank notes (as they capped it at 200€) but those who possess the older series with that denomination can still use it as legal tender, but is it that common for Europeans to have a 200€ bill in their wallet? I’ve heard as to why they ceased on printing 500€ is mainly relating to both criminal activity or money laundering as that denomation has been abused as such.
200€ is the second highest one, although the older 500€ bill is no longer in circulation. Do ATM’s disperse either 500 & 200€ bills regarding cash withdrawals within that amount or do they just give that amount in smaller denominations equating to that much (like consisting of 20, 50 or 100€ bills)? If ATM’s don’t just give out a 200€ bill when withdrawing that much or more, does one have to visit a bank (branch) to get one?
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I work in a small store, we get about one to two customers a day paying with it.
When I worked in an electronics store, we had much more of them, but it was obviously still the lowest amount of all bills.So I wouldn’t say they’re uncommon, but of course they’re the rarest one to get. Not only because ATMs don’t have them, but also because people rarely withdraw 200+€ on a regular basis in the first place.
Here in my place in Germany you can get up to 100€ bills from the ATMs. Some shops do not accept 200€ bills, more have no restrictions.
Since I moved to Germany I noticed people under 80 paying with cash again. The other day I was in the supermarket and the customer in front of me paid with a €500 bill. The cashier coolly accepted the bill of undoubtedly criminal origin and handed back €400 plus in change.
undoubtedly criminal origin
What makes you so convinced it is a bill of criminal origin? To my knowledge Germany is generally still a cash-nation, moreso than other European countries
They’re very uncommon. I once got paid cash for fruit picking in France. It was the first and only time I carried 200 euro notes. No shop accepts them. ATMs give out 50 euro notes max.
No shop accepts them. ATMs give out 50 euro notes
Will electronic stores accept either 100 or 200€ bills when purchasing an iPhone for 1500€ upon paying in cash? Also, can you pay only with 200€ (x30) only in physical currency when purchasing a 8K TV that may be 6000€.
Depending on the country. In Germany most used cars are bought with cash
Will electronic stores accept either 100 or 200€ bills when purchasing an iPhone for 1500€ upon paying in cash?
Having worked in one - yes, it’s no problem at all. If it’s too much (I think 3k was the threshold), a manager has to come and do a second run in the counterfeit detection machine, so it might take a while.
(Answering for Germany though, might be different in France)No, you’d be denied and probably reported to the police. Way too high of a chance of the money being counterfeit or of a less than legal origin. Buying stuff with large amounts of cash has money laundering written all over it.
It’s actually a big problem. On the one hand, almost no one uses cash (especially large amounts) and shops won’t accept it. But on the other hand, we would like to protect the privacy of people and forcing them to pay electronically can be a detriment to that goal.
Buying stuff directly with large amounts of cash is a big red flag. Even carrying large amounts of cash is a red flag. If you get stopped by police or at a border check or something like that, you’d have to have a good reason and the proper documents to explain why you are doing that. When crossing a border, large amounts of cash do have to be declared.
Paying electronically is so easy these days and there are so many methods, except for the privacy angle there really is no reason to use cash.
It’s legal to buy things with cash. What would you be reported for? Of course if it’s fake cash, that’s illegal, but real cash is legal tender, and must be accepted, if it is reasonable. Buying 1.50 chewing gun with a 50eur bill? The shop does not need to accept it. Buying an item that costs 400eur using two 200eur bills? Perfectly reasonable.
Yeah it depends a lot on the situation and the sector as well. I think for stuff like car/motorcycle parts cash, even large amounts, are more common. Paying less than 1000 euro worth of stuff with the almost matching amount of cash would mostly be fine. Although 200 euro bills aren’t accepted everywhere and would definitely be thoroughly checked for counterfeit. But anything above 1000 euro would have eyebrows raised, especially if the person has multiple thousands on them in large bills.
They would be reported to the police for them to keep an eye out and/or do a check on where the money came from. It isn’t illegal on its own, but would warrant a check. In my experience many shops, especially in city centers, maintain good contact with the local police. And reporting such behavior is routine. They also report people acting weird in general, not because that in itself is illegal, but to point the police in the right direction.
Even carrying large amounts of cash
Can they seize (non-euro) money despite it being worth more? For example: 20,000 Omani Rials (~45,105€)
Why exactly are you asking this? Are you planning something?
When you enter the EU with such a large amount of cash, you need to declare it at customs. You need the have the correct paperwork for having that money. If you don’t have the correct paperwork, you’d definitely be denied to cross the border. The money would be seized, but most likely you’d be able to get it back after filing the right paperwork afterwards.
Having that much cash on hand is a huge red flag for criminal activities, so it would generally be a good idea to avoid it.
Nothing of nefarious intent. Rather, having a currency of higher value to exchange.
I have lived in Europe for 6 of the past 7 years, never seen a €200 bill, I have used €500 ones before when I moved here and wanted to bring some cash with me in case of issues with cards, but realistically who uses cash nowadays?
but realistically who uses cash nowadays?
Germans
who uses cash nowadays
Cash exists for a reason such as in the case of power outages, most payment systems are down in that type of scenario, since those are reliant on electricity so cash is a back up.
Yes, but you can just not buy things for the amount of time it takes for the power to come back on. Even on a nation wide blackout card machines still work, don’t ask me how but I can definitely confirm this for sure since I was already living in Spain when the blackout happened and I went to the supermarket and got some things during the first hours. If a blackout goes on for long enough that I need to have money stashed there would be much bigger issues than that.
Even the 100€ is not that common as most ATMs don’t distribute them and most commerce doesn’t like to get them either. The few times I had any of those notes I just deposited them immediately on my bank.
100€ is not that common
But, can you visit a bank enquiring if they stockpile that denomination? (Same with 200 or 500€ bills) Like, “can I withdraw 5000€ in cash from my account consisting of only 100 & 200€ bills?”
Usually yes. Depending on the country that might land you a police list though.
ATMs here (Netherlands) max out at €50 bills
And many shops don’t accept 200 or 500 euro notes at all
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