- cross-posted to:
- StopTech@lemmy.today
- cross-posted to:
- StopTech@lemmy.today
What if you woke up tomorrow and completely lost access to your bank account, credit cards, PayPal, and Venmo, all because of something you posted online?
What if you woke up tomorrow and completely lost access to your bank account, credit cards, PayPal, and Venmo, all because of something you posted online?
That’s why we Germans love cash. By the way, all it takes is for the government to face a crisis… Just look at China and its real estate crisis. Many people don’t use cash anymore, and they ran into problems when they couldn’t make digital payments or withdraw money, etc.
Lol wut.
Most banks in Germany charge you for taking cash out of your own account. It’s one of the most difficult countries to use cash without getting fined for using cash
I’ve only ever seen that happen when using an ATM that belongs to a different bank
Edit: But Sparkasse would be a great negative example, because your point would hold true there—since not all Sparkasse branches are the same—and special laws were even drafted specifically because of Sparkasse, since they were actually charging fees as high as three-digit amounts back then. That was legally capped at a maximum of ~€10 (I’d have to look up the exact amount).
Also ATMs have max withdrawals. And if you want to take a larger amount from a human at the window, there’s a fee for that too.
ATMs have fixed limits due to anti-money laundering laws. I’ve never been charged a fee for withdrawing cash at the counter. If you want to withdraw larger amounts, you just have to notify them in advance because of the legal requirements, but I’ve never been charged for it. At Sparkasse, though, I could imagine that might be the case.
AML laws don’t limit cash limits on atm machines.
There’s literally zero legal risk of money laundering with cash that comes out of an ATM. It’s already coming from a trusted source (the bank).
AML risk is when you deposit large sums of cash into a bank