RBNZ proposing new rules for banks to support free cash transactions

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Forums › Finance and wealth management › RBNZ proposing new rules for banks to support free cash transactions

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richms

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#3465385 27-Feb-2026 11:56

Handle9:

That definitely won't cause you AML headaches /s

That kicks in well under $10k for people I know that have been depositing gifts from family. Banks are too nosey for small amounts.

Richard rich.ms

MikeAqua

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#3465893 2-Mar-2026 09:44

mudguard:

Again cash is king when it comes to illegal transactions and we ultimately pay the price in convenience by having our own transactions scrutinized.

Cash is also king for some entirely legal transactions. For example, about 5 minutes down the road from me, a guy is selling corn out of his 1990s ute. His corn is nicer, and half the price of the corn at the supermarket. He only takes cash.

Mike

Handsomedan

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#3465900 2-Mar-2026 10:04

MikeAqua:

mudguard:

Again cash is king when it comes to illegal transactions and we ultimately pay the price in convenience by having our own transactions scrutinized.

Cash is also king for some entirely legal transactions. For example, about 5 minutes down the road from me, a guy is selling corn out of his 1990s ute. His corn is nicer, and half the price of the corn at the supermarket. He only takes cash.

I bet he pays ALL of his taxes and ACC levies, too.

Handsome Dan Has Spoken.
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Handsome Dan does not currently have a side hustle as the mascot for Yale

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MikeAqua

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#3465912 2-Mar-2026 10:38

Handsomedan:

I bet he pays ALL of his taxes and ACC levies, too.

I wouldn't know. I would guess you don't either.

Mike

cddt

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#3465922 2-Mar-2026 11:19

MikeAqua:

Handsomedan:

I bet he pays ALL of his taxes and ACC levies, too.

I wouldn't know. I would guess you don't either.

Does he provide a GST receipt?

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