How to fly with cash

[JohnLocke]

Some of them offer a debit card which you can use at any ATM around the Globe, with 4000 EUR / month it should fill the gab for you.

 

[Dasboot]

At the airport take the red exit and tell them "I don't know the rules of your country! So I took the red exit to be safe!".
Usually they just ask you for drugs or if you want to leave any expensive goods in the country.
For example, if you bring some brand new mobile phones or laptops.

I cannot remember they've ever asked me for money at the red gate.

Now, thats a good tip!

Then add some strange, but very innocent stuff that they'll have to give you advice on - and try to get into talking about their country or whatever ;-)

I've been moving a rather large amount to Asia the past year, worth around a year or two as paid salary, the only problem turned out to be Revolut asking for additional documents! (Actually all taxed and 100% legal, I just cannot take all this scrutiny any longer...)

Tried the "gold coin in mix of change" a couple of times, just to kinda get the hang of it - then obviously my crypto follows me anywhere.

There are now a lot more serious stablecoins as well as platforms where you actually get a good rate available, I'll be placing some savings in DAI, USDC, USDT and others - easy to access and move around at short notice, funneling it out via Wirex if say stuff like buying a ticket for flying is necessary.

Also Bitrefill has their own USD-based "internal giftcards", could be another place to put a smallish amount as its a very useful service anyway!

 

[JohnLocke]

There are now a lot more serious stablecoins as well as platforms where you actually get a good rate available, I'll be placing some savings in DAI, USDC, USDT and others - easy to access and move around at short notice, funneling it out via Wirex if say stuff like buying a ticket for flying is necessary.

Can Wirex exchange these currencies to FIAT directly or do you need to exchange them for instant to BTC and then to FIAT?

 

[Dasboot]

Let me check...

Actually, all my accounts have NO way of adding directly from a wallet now!

Perhaps I've triggered something as I transferred around 400 euros in BTC out of Wirex and then pulled the 300 that was left via a vendor of some sorts in Gibraltar...

Something like this is exactly the reason I pulled what little I've got with Wirex!

Anyway, there is a wallet for DAI in my app at least, maybe someone else could try?

DAI seems to be quite stable and very interesting as the rates are good when placing it in some projects, so far I've opened up on Oasis and DyDx myself.

https://oasis.app/save
dYdX (Can also be used for depositing & getting a yield, not just an exchange)

 

[khinkali]

Wirex exchange any of the supported cryptocurrencies to fiat and back. Some cryptos are EEA-only but the DAI stablecoin should be available to all Wirex accounts.

@Dasboot my account was locked for additional verification after quite a small turnover. I'm amazed they let you put 400 BTC through them without wanting to know your inside leg measurement.

 

[Dasboot]

400 euros, not BTC!

Hopefully I'll get it unlocked again, was kinda planning to have Wirex available only if/when I need to purchase something costly online using crypto - which kinda belongs to the past now anyway!

 

[khinkali]

Sorry! "400 euros in BTC " I misread it. I was quite surprised at the amount.

I was annoyed that they just locked the account, instead of warning "you're reaching the limit before you need to re-verify". Apart from that, I've used WIREX most days in the last 18 months or so and other than the small ATM limit it's been good.

 

[DigiCambio]

There are some exchangers who you can pay cash in their office in country A and receive cash from them in country B for some fees ( usually 3 % ) or you can buy stable crypto or virtual currencies like PM and Web Money to exchange for cash in destination country

 

[kkein]

There are some exchangers who you can pay cash in their office in country A and receive cash from them in country B for some fees ( usually 3 % ) or you can buy stable crypto or virtual currencies like PM and Web Money to exchange for cash in destination country

Electronifying cash currently costs me 0.1% (up to 50k/yr). I would already have problems swallowing 1% fees for going through cryptos. 3% is out of question. I'd rather fly once again then.

 

[AMD]

Electronifying cash currently costs me 0.1% (up to 50k/yr). I would already have problems swallowing 1% fees for going through cryptos. 3% is out of question. I'd rather fly once again then.

how much do you pay for flytickets? they must be cheap if it's cheaper then 3%?

 

[kkein]

how much do you pay for flytickets? they must be cheap if it's cheaper then 3%?

3% is 300€ on 10k€, 600€ on 20k. Yeah, i pay less than 300 in round trip tickets.

 

[kkein]

Did some more googling.
Found this page: Customs Cash Limits: How Much Cash Can You Carry On A Plane

Now, i'm unsure if rules have changed recently, but to the best of my knowledge within UE there has never been such an "unlimited cash limit".
Where's the truth?

Edit: turns out it might be true: Who needs to declare? - Taxation and Customs Union - European Commission

 

[erni]

is flying to a country where you don't have a bank account

What if you can get them oney into a country where you don't have a bank account but where CASH is still king and you can buy everything with cool cash? that would change the situation I htink?!

 

[blockchain4ever]

3% is 300€ on 10k€, 600€ on 20k. Yeah, i pay less than 300 in round trip tickets.

Your time is worth nothing?

 

[kkein]

Your time is worth nothing?

Maybe worth, but if really unlimited within EU, well, then problem solved. Not sure why customs were harassing me a year or two ago asking for cash on intra-EU flights. Perhaps rules changed.

 

[NicolasMaduro]

Whats the worse that can happen if you get stopped with 50k eur in cash? If you have receipt from bank

 

[Saho]

Whats the worse that can happen if you get stopped with 50k eur in cash? If you have receipt from bank

That they will keep it until you proof the source of funds. Or that they suspect something illegal going on which is worse.

 

[CaptK]

Then they look into your tax and the will go back years. That's the headache you don't want.

 

[ikan]

Found this page: Customs Cash Limits: How Much Cash Can You Carry On A Plane


Edit: turns out it might be true: Who needs to declare? - Taxation and Customs Union - European Commission

Some infos there are not up to date or 100% accurate for some countries.

Some countries have no cash limit on Import or Export !!!!!

Whats the worse that can happen if you get stopped with 50k eur in cash? If you have receipt from bank

- Eu - USA and orther devellopped countries it is 100% Legal to leave you country A with 50 or 100 ke so far you declare.

No bad happening : you respect the rules => declaring + origin of funds + destination of funds (most customs forms ask for : what is the purpose or destination of funds => what will you do in country B with the cash).
It is purely a declaration information, not a condition.

If a little bit anxious or parano :
Set up good logical reason / story in accordance with you and the circunstances of your life, evntualy connexions, projects , affinity with Country B.
Customs don't judge the reason you Export cash. They want you to comply the declaring procedure.
If they are suspiscious and try to dig => You, your wife, kid always stick to the same version even if the story is strange, but must remain in accordance with your life.



Some Airlines companies had set up 10ke cash limit to fly with them.



@erni : very truth what you wrote. Cash is King in so many countries. Billion of people don't hold 1 bank account : to expansive, they can't afford it.
In some countries it is even possible to buy real estate 100% cash bank notes in front of the Notaris !

 

[kkein]

Some infos there are not up to date or 100% accurate for some countries.

Some countries have no cash limit on Import or Export !!!!!




- Eu - USA and orther devellopped countries it is 100% Legal to leave you country A with 50 or 100 ke so far you declare.

No bad happening : you respect the rules => declaring + origin of funds + destination of funds (most customs forms ask for : what is the purpose or destination of funds => what will you do in country B with the cash).
It is purely a declaration information, not a condition.

If a little bit anxious or parano :
Set up good logical reason / story in accordance with you and the circunstances of your life, evntualy connexions, projects , affinity with Country B.
Customs don't judge the reason you Export cash. They want you to comply the declaring procedure.
If they are suspiscious and try to dig => You, your wife, kid always stick to the same version even if the story is strange, but must remain in accordance with your life.



Some Airlines companies had set up 10ke cash limit to fly with them.



@erni : very truth what you wrote. Cash is King in so many countries. Billion of people don't hold 1 bank account : to expansive, they can't afford it.
In some countries it is even possible to buy real estate 100% cash bank notes in front of the Notaris !

Are you saying that one needs to declare also within EU? The page i linked says one needs to declare entering or leaving EU.
So if you fly from malta to germany with 100k€ or 1M€, according to that page, nobody is entitled to ask you or tell you anything.