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-   -   Send me your credit card and driver's license (https://www.trawlerforum.com/forums/s3/send-me-your-credit-card-drivers-license-34210.html)

john61ct 08-24-2017 03:08 PM

Quote:

Originally Posted by BandB (Post 586533)
Very seldom do we encounter purchases of over $10,000 for cash but when we do, we go through all the Form 8300 procedure.

Since the amount will never be COL indexed, in the long term the rule becomes a de-facto ban.

BandB 08-24-2017 03:16 PM

Quote:

Originally Posted by Donsan (Post 586555)
The top rated pizza parlor in Gainesville FL doesn't accept credit cards and has shortage of customers and usually a 30 minute wait for a table.

That always makes me wonder, did they ever? Or did they lose their processing privileges at some point?

john61ct 08-24-2017 04:10 PM

money laundering

Donsan 08-24-2017 04:23 PM

Quote:

Originally Posted by BandB (Post 586584)
That always makes me wonder, did they ever? Or did they lose their processing privileges at some point?

Sorry, I am clueless. It is just one of those cool eclectic hippy joints you find in an old college town. They do have an ATM machine on the premises and claim the ATM fees are donated to charity so they do want to be paid.

It is located fairly close to Mirage Manufacturing of Great Harbour fame.

Group9 08-24-2017 07:21 PM

Quote:

Originally Posted by Seevee (Post 586520)
I could make an argument to NEVER, EVER pay for a meal with a credit card. Fraud is huge. Cash works, and most often exact change works better.

My buddy with his restaurant has a fraud case going on at all times... never ends. But on his end, if he doesn't accept CC, he looses business.

Yep. A lot of waiters, especially in south Florida, have a sideline as card skimmers for the guys who commit wholesale credit card fraud.

BandB 08-25-2017 12:17 AM

I've never actually known what led to compromise of my card. Always stopped it, mostly before any charges other than the $1 authorization or something and one time after just one charge that made no sense at all.

Our stores have been involved in a couple of identity theft investigations since they always had video of the person using the card. In one, the card owner immediately recognized their housekeeper. The other one turned out to be the wife of an employee in a major credit reporting company. Talk about someone with access.

Think too of every time you've ever filled out a credit application. Those then float around in an office, in files open to many. Janitorial service employees have been known to rummage through files in offices.

sunchaser 08-25-2017 06:59 AM

Quote:

Originally Posted by john61ct (Post 586522)
Most people I know only use cash for tiny transactions, maybe a few times a month, prefer for everything to be tracked.

Even at our local farmers' market most people use plastic, and of course the SNAP cards most of all.

Won't be too long cash will be viewed with suspicion, then illegal. Already that way for large amounts.

Really. Cash works well for many of us who boat in remote locations. In international travel the US $100 and $50 bills carry great weight, still today with CC fraudsters running amok. In Canada the $C50s just fly out of my wallet. Cash always works for various transactions in my world. But, for paying most transactions we like CCs so travel miles get added up.

psneeld 08-25-2017 07:23 AM

Cash still works for me for day to day small transactions. Yet, prefer most larger and equipment purchases to be plastic. Also, often not near places with needed items on hsnd so internet dhopping is necessary.

Some store and restaurants only take cash, have ATMs right near the cashier.

Seevee 08-25-2017 09:04 AM

It's a shame our country (and the world) has so many dishonest people in it. And it hurts all the good people as the govmt wants to know everything about your personal life including the cash you spend.

The only reason govmt wants our info is to get out money, now or in the future. Why do we have to report things that are totally non taxable... same reason.

I could argue for one to be anonymous, as much as can. Keep things out of your personal name and keep a lot profile. And, hard to fight city hall (govt), as they use your money to fight you.

I like cash.

BandB 08-25-2017 10:04 AM

Quote:

Originally Posted by Seevee (Post 586828)
Why do we have to report things that are totally non taxable...

We have to report large amounts of cash exchanges to try to control money laundering and profiteering from drug sales and other illegal activities. I think the requirement to report cash transactions is very good and it has eliminated some of the banks that specialized in working with money laudering and some businesses in the business of money laundering.

The second reason for these laws is that it reduces the huge amounts of taxable transactions done with cash by people avoiding taxes.

Just answering that question. Not getting into the rest of your cash and government issues as you and I obviously sit at opposite ends when it comes to cash transactions. While you may do everything legally and still prefer cash, it's also the preferred way of doing business for those involved in illegal activities.

As a totally separate issue, I don't like carrying large amounts of cash around, prefer not to make myself a target as I'm seen flashing bundles of cash while making payments. I'm not going to carry enough cash while boating to pay $15,000 for fuel or pay a thousand dollar restaurant bill.

Most cash I've ever handled was when the company I worked for had cargo planes and only on rare occasions made runs to Europe for existing customers. There they had to pay cash for fuel which meant carrying over $100,000 cash with them. Made all of us most uncomfortable.

john61ct 08-25-2017 10:57 AM

Yes overseas especially developing world a completely different story.

The biggest banks helping move drug money around have learned they're too big to prosecute, just pay some fines and move on.

Seevee 08-25-2017 11:50 AM

Quote:

Originally Posted by BandB (Post 586846)
We have to report large amounts of cash exchanges to try to control money laundering and profiteering from drug sales and other illegal activities. I think the requirement to report cash transactions is very good and it has eliminated some of the banks that specialized in working with money laudering and some businesses in the business of money laundering.

The second reason for these laws is that it reduces the huge amounts of taxable transactions done with cash by people avoiding taxes.

Just answering that question. Not getting into the rest of your cash and government issues as you and I obviously sit at opposite ends when it comes to cash transactions. While you may do everything legally and still prefer cash, it's also the preferred way of doing business for those involved in illegal activities.

As a totally separate issue, I don't like carrying large amounts of cash around, prefer not to make myself a target as I'm seen flashing bundles of cash while making payments. I'm not going to carry enough cash while boating to pay $15,000 for fuel or pay a thousand dollar restaurant bill.

Most cash I've ever handled was when the company I worked for had cargo planes and only on rare occasions made runs to Europe for existing customers. There they had to pay cash for fuel which meant carrying over $100,000 cash with them. Made all of us most uncomfortable.

BandB,

I totally agree with your position and totally understand your responsibilities in business. I'm glad I'm not in business anymore and can do as I please. I could make an argument for big ticket items like houses, big boats, etc., a check is more prudent, and that's fine.

Occasionally cash in hand works a LOT better. There is a big incentive for folks to sell when they see cash. A good example would be as a down payment (with a contract), or buying their equity subject to a loan (as in houses), and it's nice to have that option without folks thinking you are a criminal.

It's too bad that the vast majority of us are paying the price of possibly being labeled a criminal for the actions of very few. And the only answer I can see is must stricter punishment of the offenders.

As for the little things....cash works fine, and often better.

But I can certainly understand your view... just not for everyone.

(BTW, I also worked for an airline that needed cash for fuel purchases out of the country... yea, a bit scary)


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