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-   -   cash only society (https://britishexpats.com/forum/maple-leaf-98/cash-only-society-822456/)

not2old Jan 22nd 2014 4:40 am

Re: cash only society
 
way back when in the 60's, shopping at Eatons or Simpsons store on Queen street in Toronto (not too many choices of classy shops back then other than Kresge's or Woolworths) large purchases over $20 were made by cheque.

As always we were asked for ID. Not having a drivers licence they accepted our SIN cards. Promptly the store clerk wrote the number on the back of the cheque.

How times have changed

thistlehollyberry Jan 22nd 2014 4:42 am

Re: cash only society
 

Originally Posted by not2old (Post 11090015)
good point on the cookie jar, I was thinking cash in the safety deposit box at the bank rather than in our no fee zero interest bank account... safe right?

A few bucks in the house in the cookie jar, enough for a weeks worth of incidentals such as groceries, gas & knowing how much for the utility bills & property taxes when they're due 4x year.

I must be really too old having all bills come to my house which we pay with cash. No on-line banking or direct debit.

As a child in the 50's UK we lived week to week, the rent man came every Friday & collected the rent as did the priest for his sixpence, Mother would go to the Gas showroom to pay the bill, we had an electric meter in the house that we kept feeding.

I'm thinking 50's when almost everything was cash, exchanged or fell off the back of a lorry. If you did not have the money to buy it outright - then it wasn't bought.

I think it is actually illegal to keep cash in a safety deposit box - I was told that by a bank manager - but then again who would know?

not2old Jan 22nd 2014 4:44 am

Re: cash only society
 

Originally Posted by thistlehollyberry (Post 11091539)
I think it is actually illegal to keep cash in a safety deposit box - I was told that by a bank manager - but then again who would know?

did not know that - then again, as you said, how would anyone other than the person using the box know what was inside, unless the agreement that one signs says ......

montreal mike Jan 22nd 2014 4:57 am

Re: cash only society
 
this confirms it

http://livesafely.org/financial-free...to-stash-cash/

montreal mike Jan 22nd 2014 5:00 am

Re: cash only society
 
some interesting food for thought for the few that have cash to hide

http://livesafely.org/home-security/hide-cash

Steve_ Jan 22nd 2014 5:04 am

Re: cash only society
 

Originally Posted by not2old (Post 11089866)
I do not have a credit card or bank card & I am trying to see or know if its now possible to do it without having a a bank account - just like the good old days

Clearly not because govt. departments have all started doing direct payments to bank accounts and by 2016 they won't write cheques at all. So it's impossible on that basis. Unless of course you want to give up CPP and OAS.

I can't see what was "good" about the "good old days" of not having a bank account myself. Cash is a pain in the neck.

Hawk13 Jan 22nd 2014 5:08 am

Re: cash only society
 

Originally Posted by thistlehollyberry (Post 11091539)
I think it is actually illegal to keep cash in a safety deposit box - I was told that by a bank manager - but then again who would know?

Been there, done that and went on the premise of "who would know".

On a side, try removing a large sum of cash. I did this one awhile ago - had a great deal on a car but the guy was a little weird and would only except cash. Got grilled at the bank as to what I wanted it for. I told them "none of your frickin' business and give me my money". The manager informed me that the bank would have to notify the RCMP - told him to "fill yer boots". Nothing ever came of it but what a bunch a BS. I should have told them I was buying a bag of "coke" :)

Also heard it's just as bad depositing a whack of cash (think it's when it gets over $5K) as you get a grilling as to where you got it from. The sock under the mattress?

Shard Jan 22nd 2014 7:01 am

Re: cash only society
 

Originally Posted by Hawk13 (Post 11091573)
Been there, done that and went on the premise of "who would know".

On a side, try removing a large sum of cash. I did this one awhile ago - had a great deal on a car but the guy was a little weird and would only except cash. Got grilled at the bank as to what I wanted it for. I told them "none of your frickin' business and give me my money". The manager informed me that the bank would have to notify the RCMP - told him to "fill yer boots". Nothing ever came of it but what a bunch a BS. I should have told them I was buying a bag of "coke" :)

Also heard it's just as bad depositing a whack of cash (think it's when it gets over $5K) as you get a grilling as to where you got it from. The sock under the mattress?

It's anti money-laundering regulations.

Hawk13 Jan 22nd 2014 7:44 am

Re: cash only society
 

Originally Posted by Shard (Post 11091747)
It's anti money-laundering regulations.

Really? (sarcasm)

Shard Jan 22nd 2014 7:57 am

Re: cash only society
 

Originally Posted by Hawk13 (Post 11091815)
Really? (sarcasm)

If you know the reason, it's hardly something to get bothered about, unless you're in the grow-op business. ;)

Hawk13 Jan 22nd 2014 9:54 am

Re: cash only society
 

Originally Posted by Shard (Post 11091837)
If you know the reason, it's hardly something to get bothered about, unless you're in the grow-op business. ;)

Maybe...

Actually know of people that get the third degree depositing the cash from the rent payment with the teller every month. I think everyone should have a grow-op ;)

scrubbedexpat091 Jan 22nd 2014 10:02 am

Re: cash only society
 

Originally Posted by Hawk13 (Post 11091968)
Maybe...

Actually know of people that get the third degree depositing the cash from the rent payment with the teller every month. I think everyone should have a grow-op ;)

Its just the times we live in now, large sums of cash raise red flags. I bought a car at a dealer in cash once, and before the dealer would accept it, they required proof it was legally withdrawn from a bank. (It was about 10 years ago, and only 3,500)

Casual Observer Jan 22nd 2014 11:13 am

Re: cash only society
 

Originally Posted by Shard (Post 11091747)
It's anti money-laundering regulations.

Unlikely for a withdrawal - much more likely is elder abuse prevention :D

Steve_ Jan 22nd 2014 11:39 am

Re: cash only society
 

Originally Posted by Hawk13 (Post 11091573)
On a side, try removing a large sum of cash.

The one that gets me is "large" bills, I note RBC finally started giving out $50 bills from their ABMs but most still give out $20 bills.

So I have to go in to get larger denominations and then you ask for say, $200, and the teller starts counting it out in twenties! Duh. No, we can actually accomplish this with two $100 bills...

And then you PAY for something with a $100 bill and until the plastic bills came out that often caused a fuss, but if you give them five $20 bills - no problem!

scrubbedexpat091 Jan 22nd 2014 8:01 pm

Re: cash only society
 

Originally Posted by Steve_ (Post 11092086)
The one that gets me is "large" bills, I note RBC finally started giving out $50 bills from their ABMs but most still give out $20 bills.

So I have to go in to get larger denominations and then you ask for say, $200, and the teller starts counting it out in twenties! Duh. No, we can actually accomplish this with two $100 bills...

And then you PAY for something with a $100 bill and until the plastic bills came out that often caused a fuss, but if you give them five $20 bills - no problem!

Unless making one large purchase, I prefer 20's just because its easier when making multiple transactions.


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