So recently I have had to take $2000 home.
The first thing I was asked by my mrs was why u carrying so much cash?
Is it legal?
What will the cops say if they catch you?
How much cash do you keep at home?
grabngo on 17/06/2015 - 16:39
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Cops will look suspectly at a pile of cash, should they have cause to search your home, but holding it is not illegal.
I've got $100 in small notes/gold coins in a tin that we use for paying school excursions, or other "OMG it is 7am and I need $10 for this now."
It doubles as the emergency float if there is a blackout that kills the local ATMs and EFTPOS.
Otherwise, there is my personal cash in my wallet that varies between $100-$200.
Add in maybe $60 in kids money boxes.$2,000 isn't that much cash for it to look suspicious anyways. I've heard that some retailers carrying far more, just in case of it's needed. If it was like high 5 figures or 6 figures, it'd look suspcious. Even then, it's not illegal, given that the cash is not from illegal means.
I work retail and we keep around $1k in float money, and it's a medium sized store (3 cashiers). $2k of float would probably be for an extremely large store.
@scrimshaw: It depends on the kind of store you own, I think. My parents held $5k around in store and at home, because that made the whole stocking process easier. Also, now to think about it, them not based on Australia probably has something to do with it as well.
That would be pretty standard for 3 registers. Much of that would be in coin too, which is cumbersome during a robbery.
When i was working at liquor, $200 float was around average. Even less in "higher risk" stores.
I was once at a coles and needed $600 cash out. The teller didn't even bat an eyelid…
$2000 is shopping money, I've carried $8000 in cash through airport before, limit is $10000 before they even require you to declare it.
Ahh was referring to Australian Customs, can take $8000 overseas without them caring at all.
Mainly do this for trips to Taiwan, can do currency conversion at the airport but have found it impossible to find a place outside the airport that will accept AUD. Even banks outside the airport only accept USD, RMB and YEN.
Cops will look suspectly at a pile of cash, should they have cause to search your home,
$2k is hardly a "pile". $10k raises suspicion
I knew someone who had 100k I'm cash =S
Sure, but if they have cause to search your home, questions will be asked.
Just remembered about the casino point, $10k is actually nothing, maybe $100k?
I know people who regularly go to and from Casino / Clubs with more than $10k in cash
Just tell them, you have the cash to pay for movie night for the family. I took my family out to the cinema, and i felt like it cost us something in that ballpark!
Lol true
Can you say civil forfeiture?
Thankfully we live in Australia
In America the cops can seize and retain any money they suspect are the proceeds of crime. They don't even need to prove it, or charge you, they just see a large amount of cash and they can claim it for the state. US policing agencies make hundreds of millions of dollars a year from this scheme. I believe the original intention was to go after crime lords and people running things. But nowadays it's used on everyone…
You can sue to get it back, but the burden of proof is on you to prove the money is not illegal. A business with a good accountant might be able to prove it - but regular people just save money. Usually its from years of savings. Hard to prove that the lump some is savings. And the coppers get away with it
I realize this isn't america - but i'm merely pointing out how it could become 'illegal'
I realize this isn't america
Do you?
Yes.
I don't think $2000 will cause any suspicion at all, maybe $20K will. In saying that, I have a friend that kept $10K at home in the safe in case of emergency needs.
Can you give me his address please? 😀
Considering its in a safe, you'll need to get that combination out of him somehow..
Why not in a bank account? Banks seems like a safer place to put emergency money.
Maybe it's suspicious because of your username
Yea as if I would tell any GRABnGO👺 how much money I keep 🚔
Since when money became illegal?:) Cops will laugh at $2k even if you are suspected insomething. Possibly amount over $20k will draw some attention..
$2 isn't that much.
edit: $2k
You should've been there when the police raided the school cafeteria ;)
They caught the bastard getting a meat pie for $3.00 red handed (literally).
is this a joke??
sadly no…..
Is it legal?
Yes it is. Everyone knows $1999 is the limit.
I nearly died laughing at this. Thanks ozhunter, I needed a good laugh :)
Lol, I just realized that I wrote it wrong. I meant "No, it isn't"
When I first met my wife, she had $30k cash in envelopes under her bed.
Our second date was to the bank to open a bank account :)
Third date…it's not you ,it's me.
What I read:
When I first met my wife, she had $30k in eneloops under her bed.
Then she gets audited. You're the worst thing to happen to her.
Thanks… I hear that every day :)
You know what third date mean right?
You first met your wife in her bed? Classy.
I was surprised at your comment and the coward society we have become. In Asian countries, where banks have not dominated our life, people carry cash for daily shopping as well as big purchases. I remember my dad paid cash for the combined purchase of TV and refrigerator.
Now we are scared to carry our own hard earned cash, even in such a safe and secure country. How come your own cash money became illegal and why such thoughts even came in your mind?I wouldn't really call Australia a safe and secure country. This is my personal opinion so I am happy to be refuted.
It might be just me being from another country, but I frankly found Australia to be not entirely safe. I've heard 1 break-in into the house, 3 cases of laptops being stolen within the campus, 1 possible sexual molester, 2 cases of break-in to parked cars, at least 5 people talking about stolen bikes, all within 1 year. The best part of it is, it happened in a university that's part of G8 (well everything other than the house break-in).
Maybe it's just me being used to living in units, but you can break into someone's house so easily in Australia. There are no CCTVs around in case of criminal activities (and even the existing ones are not enough, given that they couldn't even catch someone who've mugged me in front of library in university). I know that there are pros and cons about having CCTVs in streets, but at least, it does reduce or increase the rate of criminals being caught. To be honest, I wouldn't feel safe leaving more than $1,000 at home in Australia.
Where are you from AznMitch if you don't mind me asking?
I don't feel too safe keeping cash at home too but my mom once said, keep a bit so you can throw it at somebody who breaks into your house, "Take the money don't rape me!"
keep a bit so you can throw it at somebody who breaks into your house,
Surely a simple rock would suffice.
He's from South Korea.
On second thoughts, maybe your "mom" was onto something: Just looking at a 50c piece and I reckon the pointy edges could do a fair bit of damage.
50c ninja star anybody? They do call this stuff shrapnel after all.
There is no conflict with taking the moneyand rape you at the same time so why pay the intruder to rape you?
Crime stats say Australia has a pretty low crime rate. The reason there aren't many CCTVs, for example, is that crime is a pretty minor problem.
Admittedly, I don't live in the inner city, or a suburb with a lot of disadvantage, or comparatively high crime rates, but historically we are living in a time of declining crime.
http://www.bocsar.nsw.gov.au/Pages/bocsar_media_releases/201…
It may be your perception of overall crime and lawlessness is informed by the number of petty crime incidents you mentioned.
For the record, I can't think of anybody who has been a victim of crime that I know in the past year.
I would be fine with $1000 at home, and feel safe buying a 2nd hand car with cash, for example.
One thing I will note. When I was at high school and Uni I was aware of much more crime. Thinking back, that would have been the peak of visible crime during my life for me. I think part of it was I knew many more people with limited resources (pinching a bike because they wanted to use it to travel somewhere, for example) or being involved in drug distribution. And at school, shoplifting was pretty common, as was assault.So I tend to think younger people have greater visibility of crime, compared to the very young kids, who aren't getting up to much mischief, and older people who are less motivated and have less opportunity.
http://www.numbeo.com/crime/compare_countries_result.jsp?cou…
I am not sure the validity of the data (looks like it's kinda like wikipedia in a way), but looks like Australia has high crime rate compared to Korea.
http://www.nationmaster.com/country-info/stats/Crime/Robberi…
At least in terms of Robberies, South Korea has lower per capita level than Australia at least from this data.
Whether CCTVs are there because of crimes? I think it's pretty much perception of safety vs privacy difference. Australians, from my perceptions (so I may be wrong), dislike the idea of having CCTVs around because it can be seen as a breach of privacy whereas back at my place, not many people tend to care about it too much.
I don't know, I am not suggesting that Australia is a lawless place though, but rather it's a relative thing. I think my perception of security is also influenced by the fact that I am used to apartments as well. As I've mentioned, I personally find Australian houses to be easy to break into (at least you don't have to climb up few storeys or break in through the front door of the block, which almost always has CCTVs around), though this may be just my perception of things.
I do think that partly it is a cultural thing for you. When I lived in Japan for a little while, it had a very different 'feel' in terms of being safe. As a young woman, I had no qualms walking alone at night in Japan— something I'd never do in Australia. None of the people I was friends with had ever had a house break in, etc.
It's an assumption but I assume that South Korea is slightly similar to Japan in that way, or so I've heard. It is a very safe place.
By comparison Australia can feel very 'unsafe' compared to Japan and South Korea. For example, I know 3-4 people who have had break ins, or incidences of assaults, etc, here in Australia. Sometimes I think 'Gosh I miss Japan, it's so much safer, I can walk around at night without worrying,' etc.
Compare the USA, where I've lived about 6 months (my ex was American and my current boyfriend is American), where pretty much all of my friends have had a incidence happen to them that I've talked to. I can't think of any of my friends that haven't been the victims of break ins, stolen property, physical altercations, and at least half the women I know have been sexually assaulted, and the whole gun situation.
So in my experience when I'm over in the USA, I see all this crime and I think, 'gee Australia is safe, I feel so much more comfortable here,' and I find the crime in the US really alarming. But although they have high-ish crime, when I looked at the crime map, the places in Seattle I lived were comparatively low crime. From my foreign perspective, it felt really really lawless, though.
So yeah, partly Australia has a high crime rate compared to Korea, but it is relatively low on an international scale— South Korea just has extremely low crime.
@ceebee: Probably. Also it doesn't really help when AFP failed to catch the bastard who mugged me (well technically, almost mugged me since I didn't have any cash on me then).
As I said, I think partially it's perception thing as well. I am so used to units, houses just feel massive and vulnerable for me.
but looks like Australia has high crime rate compared to Korea.
This is a bit like saying: Geez, that Tendulkar bloke was really crap. His batting average compared to Bradman's was rubbish.
Far better to compare Australia's crime rates to similar countries (and not to statistical outliers).
@Roman Sandstorm: Hmmm, it's really hard to find similar countries to Australia in Asia (I am referring to Asian countries because it's what made me comment to begin with from the original comment by akd).
Young, very young and older people. I feel insulted. Is there an inbetween? Lol
I wouldn't really call Australia a safe and secure country
(Not) travelled much?
I was directly commenting on what akd was saying. More specifically:
Now we are scared to carry our own hard earned cash, even in such a safe and secure country.
I simply didn't agree with that comment because I've seen so many break in and theft in Australia. While I do not deny that Australia is a safe country, I simply don't feel safe enough for what he's saying, for the reasons I've mentioned before this comment.
The reason why we don't carry cash is because it is better to pay credit card. You get up to 60 days interest free to pay it back (while your cash matures interests…not much interest right now unfortunately, but nevertheless)
And they give you points for using their money.Sorry, duplicate
Actually it would be interesting to compare probability of "fire in the house" vs "bank getting broke".
most home insurance policies specifically exclude cash… even travel insurance has maximum amounts
I am not sure about Australia's case, but what I've heard about Bank of Korea was that depending on how damaged the cash is, they give you some of the money back if you hand them in. This applies to burnt paper money as well (though obviously you would not be able to get the full amount), they look at the ash and determine how much it would've been.
My Asian friend had to borrow money from his parents for a house deposit and they had like 40k at home in cash hidden in various places and it took a while for them to get it. lol
Typical old-school foreigners.
An older relative of mine had more than that in gold bullion coins stashed somewhere on their property.
Yeah some older Vietnamese people we knew years ago had thousands and thousands hidden under their mattresses. It all dropped out everywhere when we were helping them move house.
I don't keep much money in my house, car or wallet in case of fire, break in or if I loose it. ATM's are everywhere if I need cash.
cash that was hidden from the tax man.
Probably, as they owned a bakery…
musta been rollin in da dough
It's legal to have that much cash. However, if you can't prove it's source (and you commit another crime) you might have troubles getting it back.
I wouldnt carry around that much cash anyway. You get robbed .. or you lose your wallet… you're down 2k.. and it's untraceable.
Because interest is so low at the moment, I make my money work harder by using it as insulation in my walls.
Parents used to take it with them, "safer than leaving in the house" lolno.
They really didn't believe in ATMs and Eftpos.
Right now? Few cents. Try and steal my paypassless eftpos card now! bhahahha!!$10000 would be the limit if you were going to pass through airport security. Should break one of those notes to buy yourself a drink and slip under customs, claiming you have $9996 with you.
Departing Aust on International travel - Unlimited as long as you declare it! But not the case in some countries.
Used to keep up to $300 for spending money after school etc but stopped and just used ING's paypass or withdrew the necessary amount needed for the next week or few days.
Does monopoly money count?
Always wise to keep some handy. Never know
when a local lady of the night will have a discount salewhat can happen. Petty thieves are the least of my worries
$2K is chickenfeed. Not even a months wages at an average job
value of lost interest at 5% is $100 a year.Interest is usually not lost, because banks are so tightarse on giving every penny back. Paying off credit card debts is another worry though, they'll take every penny they can.
We often have no cash in the house, because we just don't use it that much.
Then there are guilty days when we have to raid the kids piggy banks to scrape together some loose change for excursions or some random thing at school.
I like the jar idea. Hmm
1 million dollars in 4 nike shoe boxes under my bed
I couldn't decide whether to pay for my new car in cash, so I put it under the mattress and slept on it.
At 1 am in the morning my 17 yr old daughter and a couple of her friends walked 5 kms home after a party. Obviously I was upset with such risky behaviour. There is now $50 in a hidden, but easily accessible place in the front garden for emergency taxi money.
Wow not being able to keep $50 in your house. Must live in a high crime risk area, to have to go to the extreme of hiding $50 in the garden. And hiding it in the FRONT garden where the crims can see you rather than the back garden seems a little counter productive Maybe the crims in your area are a little back-ward😋
But… how is emergency taxi money hidden at HOME going to help you get there?!
Presumably they retrieve the money after they arrive home with the taxi.
Ah!
Treasure hunt?
I once transported 250k euros under my bike :)
professionals are roaming Ozbargain!!!
* first it was your income
* then it was what suburb
* then it was what car you drive
* now they want to now how much is in the housenext question where do you hide your cash at home? (just for their convenience)
"When are you most likely out of the house, doing what, and for how long?"
I've purchased cars/boat in the past with cash. Amounts ranging from 10K-40K.
Nothing wrong with having cash around, providing you have the means of securing it.
It all depends on what your circumstances are. If you've had legal issues in the past (convictions for theft, drugs, etc.), then you will be more closely scrutinized, should police stop/search you.
Generally speaking though police in Australia don't just stop & search people, unless they have a 1/2 decent reason to do so.
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why it would be illegal?