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For questions relating to paying in cash, cash deposits, accepting cash, cash on financial statements, etc.

11
votes
3answers
437 views

Questions from dealer when paying cash for a car

My wife and I recently bought a new Chevy from a dealer here in California. We didn't use a loan, paid using a personal check. Even though we told them we weren't financing the deal, they insisted on ...
0
votes
2answers
113 views

Can merchants refuse cash as payment in India?

Can merchants refuse cash as payment in India in favour of digital modes of payment?
6
votes
2answers
273 views

How to handle large inheritance

My uncle is ill and doesn't have much longer to live. He's been tying up loose ends and the other day he gave me a briefcase full of $20 bills, neatly stacked. If my math is right it's about $100k. I'...
0
votes
2answers
75 views

How does cash move between exchanges?

I know that money exchanges work on the principle of selling foreign currency for more money than they are buying it. In an ideal market, there would be an equilibrium in the money being imported and ...
2
votes
1answer
289 views

Why is there a difference between the price paid for shares in an acquisition versus the current market price? [closed]

What justifies ANDV trading around $140 when share holders will get $152.27? As I do not want MPC shares, what could prevent ANDV holders getting $152? Would it be better to bail now at $140? Help ...
5
votes
6answers
3k views

Is it better to use cash when cards offer discounts

I am new to budgeting and managing my own finances and have a simple question. Is it better to use cash when credit or debit cards offers discounts. The city I live in, some shops and services offer ...
1
vote
0answers
124 views

May an international student on F1-Visa accept money (cash rewards) in return of contributions made online?

I am an international student currently studying on F1-student-visa in united states. There are many websites where I can contribute (for example, by adding questions/answers, writing articles etc.) ...
3
votes
5answers
642 views

New car: buy with cash or 0% financing

Here's my current dilemma: should I buy the new car I'm looking at with cash or have 0% financing for 72 months? For reference, here is some info about me: I am currently living at home. My plan is ...
3
votes
1answer
319 views

Journal entry for savings of multiple family members

I'm recording family-related transactions in a journal. My question is regarding a cash deposit (asset debit). For example, my family earned $300 at a garage sale. I deposit that entire amount into ...
-1
votes
1answer
95 views

Can I deduct personal loans or use them as tax “write offs?”

Say I loan $5,000.00 to a relative, and they still owe the majority of that amount after many years of no payment. Can I just vaguely write off this number, assuming the money was lent as cash, hand-...
0
votes
1answer
51 views

How foreign cash is beneficial for a country? [closed]

Imagine for example people of country X working abroad ( in Europe as an example) and bring home every month 3000 euro which is equivalent to 9000000 of local currency for example. How does this cash ...
2
votes
1answer
158 views

Complicated financial transaction involving 3 countries and over $10,000.00

I live in the USA and I have an opportunity to sell some used consumer electronics in Paraguay with pretty nice margins. I have a buyer lined up (also a family member on my other side) and have looked ...
0
votes
3answers
256 views

What are the pros and cons of buying in cash and remortgaging vs taking a mortgage right from the start?

I was wondering what are the best options. Of course if depends so I would like to know what are the pros and cons of each solution. One obvious that came to mind - buying in cash allows to act at a ...
4
votes
2answers
570 views

Bank denying loan after “subject-to” appraisal: What to do?

I'm buying a two-unit investment property directly from the seller (no Realtors involved). The purchase price is $110k. I am trying to get a conventional loan through a large national bank. ...
89
votes
9answers
17k views

Do people tend to spend less when using cash than credit cards?

I know this is a popular theory on this site and finance blogs/media in general, but I'd like to know if there is any reliable research on the subject. I can share personal experience that makes me ...
-3
votes
1answer
137 views

If an employee's paycheck is directly deposited at the employer, then the employee is paid without a simultaneous decrease in the employer's cash? [closed]

It seems there would be no credit to cash as the Payroll Payable would be debited with the credit to Deposits. Interesting that the bank might able to pay its employees but keep the same cash level...
2
votes
3answers
380 views

How to send money across borders physically and inexpensively, but not via cash?

I would like to transfer money from Argentina into Chile. Usually, within countries, there are safe ways of physically (i.e. without a SWIFT or other wire) and inexpensively transferring money ...
2
votes
2answers
187 views

How does one access liquid cash with a credit union checking account from a different state when no ATM of the bank is around and checks are rejected?

My brother recently moved to California and he needs to pay for gas and food for the next 1-3 days. He has a credit union account and credit card from our local credit union bank. His credit card ...
13
votes
4answers
6k views

Getting Cash from Credit Card without Fees

I currently: Pay with a credit card, get my 3% cashback, and then pay off the credit card with my debit card. What I would like to do is: Use a credit card (to get my 3% Cash back) to withdraw cash, ...
1
vote
1answer
449 views

Proper name for banknote values (sizes)? [closed]

For example USD uses $1, $2, $5, $10, $20, $50, $100. What is a proper name for these options? If I want to give someone $1000, what would be the proper way of asking them what is the largest bill ...
2
votes
2answers
626 views

Notified by recovery agency of an uncashed check

I was approached by a guy who says he found an uncashed check issued to my name in Texas 4 years ago. The guy seems legit and it is possible that I had an uncashed check at the time. He requested a ...
-5
votes
3answers
527 views

How do I fold side-income into our budget so my husband doesn't know? [closed]

I am married to a very lovely man who is unfortunately the most stubborn and detail oriented guy I have ever met. He tightly controls the budget tracking every expenditure. He is ultra-conservative ...
1
vote
1answer
86 views

International cash to bank transfer: how to minimize losses?

I live in the United Arab Emirates. I have 10,000 USD in cash. I have a bank account in USD in a Czech bank. What is the best way of transferring that money to my bank account? My situation is quite ...
3
votes
1answer
180 views

How to declare foreign gift of nearly $10,000

I understand that gift from a foreign entity (in this case, my non-US parents) is not taxable, but has to be reported. According to the IRS' instruction on Form 3520, I only have to report the gift ...
3
votes
1answer
108 views

Withdrawing or depositing more than ATM limit when dealing with online banks?

Say I want to withdraw/deposit cash above my ATM limit (say, $7,000) from my bank account instantly. In a brick-and-mortar bank, it's no problem: you walk in and the bank teller does that for you. If ...
-5
votes
1answer
537 views

How does a public company turn shares into cash?

Once a company starts trading publicly, how do they turn shares into cash that they can then use to grow their business? From what I've read so far, it seems that pre-IPO an investment bank ...
4
votes
1answer
78 views

Money-market or cash-type ETFs for foreigners with U.S brokerage account

Non-US investors who have cash in their U.S brokerage accounts, say Interactive Brokers, will be subjected to U.S estate tax. What are some securities, ETFs that are close to cash that these foreign ...
14
votes
5answers
4k views

What type of profits or scam could do cash-back services?

I found a site called https://alibonus.com/ - they are offering to install Google Chrome extension, to shop with cash-back. What risks could there be with a service like this? Their Google Chrome ...
22
votes
4answers
15k views

How much (paper) cash should I keep on hand for an emergency?

I used to keep $150 hidden in my car for emergencies. I keep less than $100 in small bills in a backpack with food and water for use during natural disasters. I've got a fire safe in my house for ...
58
votes
5answers
12k views

In what cases can a business refuse to take cash?

Printed on US currency you will find "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE". Some businesses have refused to accept larger bills for a long time, as other forms of payment have ...
5
votes
1answer
9k views

For a large cash deposit, do you have to answer where it came from? [duplicate]

To start off, I should say I am not trying to do anything illegal - quite the opposite. I am in the US and I have a decently large amount of cash - above the $10,000 reporting threshhold (...
3
votes
2answers
285 views

Do polymer banknotes generally contain animal fat?

There is currently a brouhaha in England about the new polymer £5 notes, which contain trace amounts of animal fat. Is this problem unique to England, or is it common to other places that use polymer ...
1
vote
0answers
75 views

How to get money (cash) with minimal fees from Europe (Pounds, Euros, Paypal) to South East asia

I have some investments that will be generating revenue in Pounds (UK banks), Euros (Holland, Lithuania) and PayPal. I am planning on doing a lot of travel in South East Asia (Thailand, Vietnam, Laos,...
54
votes
5answers
39k views

What happens if one brings more than 10,000 USD with them into the US?

Suppose one has $1,000,000 in a suitcase and they are flying to the US. Suppose they check the box in their customs form that says they're bringing more than $10,000 with them. They show the form to ...
1
vote
1answer
74 views

Medium of Gifting Cash [closed]

Suppose I have a friend who had given me a monetary reward of $75 in person. Which medium should he or she have chosen and why? Cash - The one I think is the best (no fees, no restriction on where ...
1
vote
2answers
191 views

Are savings accounts just as safe as government bonds in terms of counterparty risk?

It seems that holding plain cash (say after selling stocks and waiting for other opportunities to come up) in a brokerage or bank account is a bad idea (due to counterparty risk) (Clenow, 2015). ...
3
votes
3answers
191 views

How to minimise the risk of a reduction in purchase power in case of Brexit for money held in a bank account?

With the Brexit referendum looming, one of the foreseen consequences in case Britain leaves the EU is a diminished purchase power for the British Pound Sterling. What would be the best way to ...
3
votes
1answer
128 views

Is cash (from sale of equities, other property or savings) taken into account for mortgage affordability?

Imagine the following scenario: Gross annual income - $100k Cash (from property equity, shares, saving etc) - $100k No debt. Down payment - 20% (e.g. $20k) to be taken from cash pot. Mortgage - ...
0
votes
1answer
1k views

Can I cash or deposit a American Express Travelers Cheque if it does not have my signature at the top?

I am in Orange County California, and I went on a trip with my Aunts & Cousins, all of us exchanged our money at once. We can our money to my Aunt, and she gave us checks with her signature on the ...
1
vote
2answers
228 views

Any creative options for purchasing a used vehicle with cash

Ok so we are planning on purchasing a used vehicle for no more then 16k. We have the cash in hand and so it got me thinking. What options are there to fully take advantage of this situation? My ...
-1
votes
1answer
2k views

Can I withdraw cash from margin?

Let's assume I have $100,000 worth in stocks: $50,000 I paid for in cash and the other $50,000 on margin. Can I sell the shares bought on margin and withdraw those $50,000 out of the brokerage account ...
9
votes
1answer
741 views

Am I required by law to have cash register for my small business (California)?

We have a Point of Sales terminal to handle all credit card transactions. The credit card processor company sends us 1099K form that we use for tax purposes. This works fine for our small beauty salon....
-1
votes
1answer
224 views

One million dollar in cash once or the ability to always draw a 5 dollar note out of your pocket (infinite times)? [closed]

What would you pick? Note: If you want to get 5000 bucks out of your pocket, you need to draw 1000 times...
0
votes
1answer
585 views

Google Finance Cash Flow Statement

I currently use Google Finance to do most of my stock screening and analysis. However I have recently started learning about cash flow statements and how to analyze them. The screenshot below shows a ...
1
vote
1answer
188 views

Cash back at a grocery store; are there disadvantages besides those inherent in cash?

Suppose I need cash. Suppose I also need groceries. I go grocery shopping, and when it comes time to check out I also use that neat cash back thing, where I "spend" $20 off my debit card, and get $...
1
vote
1answer
142 views

Is usage of someone else's bank card allowed?

If I gave my bank debit card from Payoneer with my name on it (but no photo and signature) to friend of mine, is he allowed to withdraw money from my card in the branch of the bank using Cash Desk(...
3
votes
2answers
271 views

Car dealers offering lower prices when financing a used car

I recently went to a Nissan dealership to buy a used car. They are claiming that they can offer me a price that is over $2000 less if I finance with them, instead of paying in cash. Is this a ...
1
vote
2answers
494 views

Should I use an NRE or NRO account to transfer money from India to the US? Any reports needed?

I moved from India to US on H1B last year. I have landed some money to my brother for some business without any interest. Now I would be receiving that money back from him. I need to transfer that ...
1
vote
2answers
177 views

New car cash vs finance

I looked at Alfa Romeo's UK webpage: So if I purchase outright, the dealer gets 23,830 cash now But if I use their finance, they get a total of 21,541 less finance costs in 4 years This sounds ...
5
votes
3answers
655 views

Investment strategy for retired couple

My parents are retired (71 and 75), their house is paid off, and they have a moderate amount of savings between some IRAs and bank accounts. All of their savings is in cash or money markets, and it ...