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In general new money laundry laws require evidence of sources for higher amounts of cash. The banks in Sweden blame EU laws, but the EU laws allow transactions of below €15,000, while Swedish banks require evidence and can refuse to accept or confiscate cash without lower limit and have high requirements of documentation. [citation needed]
There is a misconception that somebody due to be paid a certain amount of money—such as a shopkeeper—must accept legal tender if proffered for payment; [41] in reality the payee may choose to refuse or accept any specific type of payment, whether legal tender or not. [42]
Steps to take if your bank refuses to refund your money. Since consumer protections typically focus on preventing fraud — rather than scams — you are far from alone if you’re unable to get ...
The collecting bank may refuse to accept a warrant issue, in which case other banks may also refuse to accept them. [8] "The warrants of a municipal corporation are not negotiable instruments. They do not constitute a new debt, or evidence of a new debt, but are only the prescribed means devised by law for drawing money from the treasury." [9]
But Dyke knew that Colorado had put through legislation in 2021 that a business must accept cash, in response to many establishments becoming cashless during the COVID-19 pandemic.
China's central bank has called for wider acceptance of cash in economic activities and vowed to punish those who refuse to accept cash payments in the wake of a widening gap in access to digital ...
The policy at Bank of America is that if you're going to cash a check and you don't have an account there, which is apparently the case with Valdez, the bank will request your thumbprint for ...
To combat a bank run, a bank may acquire more cash from other banks or from the central bank, or limit the amount of cash customers may withdraw, either by imposing a hard limit or by scheduling quick deliveries of cash, encouraging high-return term deposits to reduce on-demand withdrawals or suspending withdrawals altogether.