The Forum > General Discussion > RBA Warns Banks on Card Surcharges
RBA Warns Banks on Card Surcharges
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Posted by Yuyutsu, Saturday, 23 March 2024 7:48:22 PM
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Yuyutsu
What other countries "restrict cash"? Posted by ttbn, Saturday, 23 March 2024 7:55:08 PM
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Dear Ttbn,
Most European countries, and Israel. http://www.evz.de/en/shopping-internet/cash-payment-limitations.html http://www.cpa-dray.com/en/blog/limits-on-cash-payments-in-israel-2022/ Posted by Yuyutsu, Saturday, 23 March 2024 8:01:38 PM
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Yuyutsu,
Same here. In Australia, traders must: “Submit a TTR to AUSTRAC for each individual cash transaction of A$10,000 or more. If you suspect your customer is structuring their transactions to avoid the TTR reporting threshold, or is transacting with proceeds of crime, you must submit a suspicious matter report (SMR) to AUSTRAC.” Nothing whatsoever to with the imposition of a cash-free society. Posted by ttbn, Saturday, 23 March 2024 10:30:01 PM
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Dear Ttbn,
In the above countries, no TTR can even help - the transaction itself is forbidden. Posted by Yuyutsu, Saturday, 23 March 2024 10:39:21 PM
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We can blame the the school teachers for the move to a cashless society.
I went to pay for two cups of coffee and a couple of cakes with cash. Talk abut a pantermine, the cashier (unintended pun) got all confused and took the $50 note away to another staff member and they worked it out with pen and paper. Took ages, because from where I was it looked like they did the calculation at least twice, and another customer was waiting to pay. A cashier at Coles was magic and was as fast as a card transaction. In the future your Medicare card, or pension card, or drivers licence will have trackers built in. Just like the chips included in every supermarket product in Germany so you can just wheel the trolley through the checkout and it is all charged to your account. That is not just cashless, but cashierless also. Posted by Bezza, Monday, 25 March 2024 1:20:41 PM
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Indeed, we are in great trouble.
One thing that we can do, is to let our friends who receive cash without declaring it to the ATO know that by doing so they hurt us as they are encouraging government to restrict the use of cash, as they do in other countries. Also, when we pay a tradie, just as they are about to leave we should tell them, "oh, and please take this extra 10% too, this is for GST".