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  1. #41
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by Chris_Robb View Post
    What has not been mentioned is the danger of bank transfers across boarders. It might arrive in your account, and your bank will say it is cleared, but it is not actually cleared for some time and the money can be called back - thats how some of the scams work when you get a good price for the sale of a car, and your bank says its cleared - but its not actually properly cleared. You loose your money. Fine if its a SEPA payment - thats a complete transaction in one go.... but they do it the old fashioned chaps way.

    Lots of dogy 100 and specially 500 euro notes around. The 500s were especially for the italian money laundering market.
    You are right about the need to have clarity on when payments are cleared - but I think most of the fraud was related to cross-border cheques, which could be revoked for many weeks after payment.
    Electronic transfers much more secure and faster. Within the EU the vast majority of cross border payments will now be be SEPA (Single European Payments Area) Payment.
    CHAPS is not the "old fashioned way" - it was always Sterling only within the UK, primarily very high value stuff. So not relevant for the OP. But still used for Trillions of £ daily, and the fastest and most secure form of settlement (for ££££ in UK).

    Lots of ways to lose money with bulk cash.

  2. #42
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by sailaboutvic View Post
    I almost buy everything in cash , I just paid out £500 for a course computer in cash .
    Last year in Greece we brought new sails , in cash and a new set of batteries bank in cash , I love cash .
    In a few months I will be hauled out and all that will be done in cash .
    I will go to a cash machine and withdraw cash , I not met anyone yet that when I said about paying in cash they said sorry no can do .
    You can always do a deal when you pay in cash , and I love doing a deals.
    Each to their own and their own set of moral values. But if given cheaper for cash, why do you think that is? Almost certainly means to avoid paying some form of tax - whether VAT, Income Tax or whatever.
    Yes tax evasion and/or the black market may be endemic in some countries, but it doesn't make it right. Greek taxes are needed for their schools, for their hospitals, for their elderly. I don't think that as a visitor I would be happy cheating the host country by assisting hiding my commerce to save a few quid.

  3. #43
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by dunedin View Post
    Each to their own and their own set of moral values. But if given cheaper for cash, why do you think that is? Almost certainly means to avoid paying some form of tax - whether VAT, Income Tax or whatever.
    Yes tax evasion and/or the black market may be endemic in some countries, but it doesn't make it right. Greek taxes are needed for their schools, for their hospitals, for their elderly. I don't think that as a visitor I would be happy cheating the host country by assisting hiding my commerce to save a few quid.
    Once again people are assuming stuff ,
    Maybe the guy father or mother died and while cleaning out the house left to him he found a pile of cash , maybe he going through a Devoice and cleared out his account before his ex could get her hands on it . Maybe he got more the the limit in the bank and worried if the bank collapses he end up losing some of it so keeping it in case .
    Maybe he not Greek he a Brit or Dutch . So maybe be people just want to think the worst . Wouldn't it be nice if we give some one the benefit of dougt .
    Yes every one to their own moral , some thing I can agree with you .
    I met and know many who say they have Moral until it come to them .
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  4. #44
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by Chris_Robb View Post
    We have a sales enquiry for our boat (parked in Leros), which is offering part payment by bank transfer, and the remainder in € cash. Has anyone done a similar deal, and could offer advice - not about the security aspects of the deal but how to handle the money? We only have a UK bank account and don't know how we could handle it e,g, is it possible to open a € account in Greek bank, which would accept a large amount of € cash on deposit?
    As someone said - there is little info on which to base any advice. However in re reading the original post (above) it seems that that they only had a sales enquiry. How does a sale process start with how you are going to pay........ he hasn't even seen the boat. This has all the hall marks of a scam though I am not sure how it will work. We all know how a chaps transfer can be called back EVEN though your bank has said it is paid - If it comes from Nigeria (or in recent time France and Italy) it could take 6 months before such a transfer was irrevocable! Your bank will show it as cleared funds - but that is most misleading....... Using SEPA (any bank in Europe) transfers safer and can only be called back for 14 days.

    In any case I wish the OP good luck in selling his yacht - a process which can be incredibly slow and frustrating...... do not be sidelined with this time of thing.
    Chris we know so little , so how do we know it started with how a payment going to be made,
    May it be the case where the guy just asked the broker if the seller was interested in part cash ?

    The op said he met the guy , I personally never heard of any scam where it's not been done on the phone or internet .

    a bank transfer from say my uk bank to your, it's just two hours and there no way I can claw it back ,

    Let assume because that's all any of us are doing , the OP is selling his boat for twenty thousand and the guy said he like to pay seven thousand in cash , he not asking for the bill of sale to record any thing different the X in cash and X in a bank transfer , is that still a big deal , I done think so . And if it was me I snap his hand off .
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  5. #45
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    Jan 2011
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by sailaboutvic View Post
    he not asking for the bill of sale to record any thing different the X in cash and X in a bank transfer
    Wouldn't the Bill of Sale just state the usual "one groat and other considerations"?

  6. #46
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by colind3782 View Post
    Wouldn't the Bill of Sale just state the usual "one groat and other considerations"?
    It maybe the case but the broker would had issues a invoice or payment and that could have how the payment was made .
    Look the thing here is almost everyone is suggestion the deal is dodge without knowing the full fact , has it happen we know very little , and on this basis advice is bein given to walk away , which seen it what the op is doing .
    Let hope for his sake the boat isn't some one off boat of a very old but low valve and he just walked away from the only chance he may have of selling it for some time to come . Us who have sold boats know getting a buyer isn't that easy .
    We have two friends who had they boat up for sale two years , both very nice boat at a good price .
    And a third a member here who has a very nice clean boat again at a good price and he been getting silly offers .
    Last edited by sailaboutvic; 05-09-19 at 12:40.
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  7. #47
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    Jan 2013
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    Agios Nikolaos, Crete
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    Default Re: Sale of boat in Greece - how to handle € cash?

    As a final comment from me on this thread, if you are selling a boat (or anything expensive) to a Greek, do not accept part cash payment - at least if we're talking about several thousand Euros. Greek and UK banks are required to ask for evidence of where the cash came from in order to combat fraud, tax evasion, and money laundering.
    Mostly harmless....

  8. #48
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    Jan 2005
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    Winter in Kent, rest of the year on board
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by Tony Cross View Post
    As a final comment from me on this thread, if you are selling a boat (or anything expensive) to a Greek, do not accept part cash payment - at least if we're talking about several thousand Euros. Greek and UK banks are required to ask for evidence of where the cash came from in order to combat :fraud, tax evasion, and money laundering.
    And as a final thought from myself: my thanks to various people who have contributed. Tony's comment summarises why I have withdrawn from the (possible) transaction. To Vic; the amount of 'cash' involved was €20,000 - as I said in my response to you in post #7. And I am more than aware of the problems in selling an older boat (my Nauticat 35 is 1987). But like any boat, it is only worth what somebody will offer, so hopefully I will find somebody who wants what I have.

  9. #49
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Good luck with finding a new buyer
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  10. #50
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    Default Re: Sale of boat in Greece - how to handle € cash?

    Quote Originally Posted by sailaboutvic View Post
    Good luck with finding a new buyer
    He only had a iffy sale inquiry. I don't believe he's lost out.
    never confuse education with intelligence
    Sailing the Aegean

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