Withdrawing large sums

Go Back   Expat Forum For People Moving Overseas And Living Abroad > Europe > France Expat Forum for Expats Living in France

France Expat Forum for Expats Living in France Welcome to the France Expat forum. This is the place to meet like minded people who have made France their new home. This forum is ideal for those who have moved to France and those thinking about making France their new home.

Withdrawing large sums


Closed Thread
 
Subscribe to this Thread Thread Tools
  #1 (permalink)  
Old 2nd June 2010, 12:03 PM
New Member
 
Join Date: Jun 2010
Location: Paris
Posts: 4
Rep Power: 0
eshroom is on a distinguished road

Users Flag! Originally from uk. Users Flag! Expat in france.
Default Withdrawing large sums

Hi, I want to withdraw 11000 in order to buy a car in Germany (I figured this would be the easiest way of doing it since I have no german bank account).

I am with Credit Agricole. Do I need to give them notice of the withdrawal? Do I need to withdraw from my home branch?

Any info would be great, thanks.

Quick reply to this message
  #2 (permalink)  
Old 2nd June 2010, 12:07 PM
Member
 
Join Date: Jun 2009
Posts: 1,829
Rep Power: 1202
NickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond reputeNickZ has a reputation beyond repute
358 likes received
14 likes given

Users Flag! Originally from canada. Users Flag! Expat in italy.
Default

If the german seller gives you the IBAN banking information you should be able to do a transfer. Under EU law it shouldn't cost more then a local payment. I think 11K is under the limit.

I'd worry about traveling with 11K in cash.

Quick reply to this message
  #3 (permalink)  
Old 2nd June 2010, 01:12 PM
New Member
 
Join Date: Jun 2010
Location: Paris
Posts: 4
Rep Power: 0
eshroom is on a distinguished road

Users Flag! Originally from uk. Users Flag! Expat in france.
Default

Quote:
Originally Posted by NickZ View Post
If the german seller gives you the IBAN banking information you should be able to do a transfer. Under EU law it shouldn't cost more then a local payment. I think 11K is under the limit.

I'd worry about traveling with 11K in cash.
True, but it's a lot of money and a transfer takes 3 days... I don't want to send the money ahead in case the car dealer messes me around (or worse isn't legit!)

Quick reply to this message
Sponsored Links
Advertisement
 
  #4 (permalink)  
Old 2nd June 2010, 01:38 PM
Bevdeforges's Avatar
Super Moderator
 
Join Date: Nov 2007
Location: deepest, darkest Essonne
Posts: 45,135
Rep Power: 23214
Bevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond reputeBevdeforges has a reputation beyond repute
9299 likes received
1190 likes given

Users Flag! Originally from usa. Users Flag! Expat in france.
Default

Check the rules in Germany - in France there is a legal limit to cash transactions. Over a certain amount, you MUST make payment by some traceable means - either a cheque, a bank card or an inter-bank transfer. A couple years ago, that limit was 3000 - I'm not sure if it has changed in the interim. But I suspect the bank will limit you to a withdrawal not exceeding whatever the current limit on cash payments may be.

Then there is the issue of whether or not the German dealer can accept cash payment in that amount from an individual.

What's the attraction to buying a car in Germany? You'll still pay VAT based on your country of residence, not where you buy the car - and buying it in France, you'll at least have a local dealer on the hook during the warranty period.
Cheers,
Bev

Quick reply to this message
  #5 (permalink)  
Old 2nd June 2010, 01:40 PM
Member
 
Join Date: Jun 2009
Location: France
Posts: 550
Rep Power: 218
dijid is a name known to alldijid is a name known to alldijid is a name known to alldijid is a name known to alldijid is a name known to alldijid is a name known to all
30 likes received

Users Flag! Originally from usa. Users Flag! Expat in france.
Default

I'm with Societe Generale and they require several days notice for large withdrawls and it has to be at your local branch. (Smaller withdrawls can be done via check at any branch) Also be warned that some banks consider Friday, Saturday and Sunday combined to be one business day when you are giving notice (or waiting 3 business days for a transfer to go through).

Quick reply to this message
  #6 (permalink)  
Old 2nd June 2010, 03:08 PM
New Member
 
Join Date: Jun 2010
Location: Paris
Posts: 4
Rep Power: 0
eshroom is on a distinguished road

Users Flag! Originally from uk. Users Flag! Expat in france.
Default

I'm buying a car to take to Greece where second hand cars are often not well kept and are rather more expensive. I have found cars in France for similar prices, but the ones in Germany just seem better kept. Anyone seen how they park in Paris?

Quote:
Originally Posted by dijid View Post
I'm with Societe Generale and they require several days notice for large withdrawls and it has to be at your local branch. (Smaller withdrawls can be done via check at any branch) Also be warned that some banks consider Friday, Saturday and Sunday combined to be one business day when you are giving notice (or waiting 3 business days for a transfer to go through).
Thanks. I had feared this, I'd better get the ball rolling soon then. Thanks.

Quick reply to this message
  #7 (permalink)  
Old 3rd June 2010, 08:20 AM
Member
 
Join Date: Apr 2008
Posts: 671
Rep Power: 244
parsnips is a splendid one to beholdparsnips is a splendid one to beholdparsnips is a splendid one to beholdparsnips is a splendid one to beholdparsnips is a splendid one to beholdparsnips is a splendid one to behold
110 likes received
1 likes given

Users Flag! Expat in france.
Default

Quote:
Originally Posted by eshroom View Post
Hi, I want to withdraw 11000 in order to buy a car in Germany (I figured this would be the easiest way of doing it since I have no german bank account).

I am with Credit Agricole. Do I need to give them notice of the withdrawal? Do I need to withdraw from my home branch?

Any info would be great, thanks.

Hi,
Why not ask at the bank?

Quick reply to this message
  #8 (permalink)  
Old 6th June 2010, 10:39 AM
Banned
 
Join Date: Sep 2009
Location: Auvergne & Corsica
Posts: 6,806
Rep Power: 0
hils is a splendid one to beholdhils is a splendid one to beholdhils is a splendid one to beholdhils is a splendid one to beholdhils is a splendid one to beholdhils is a splendid one to beholdhils is a splendid one to behold
1637 likes received
1372 likes given

Users Flag! Originally from uk. Users Flag! Expat in france.
Default

I'm with Credit Agricole and also withdrew VERY large sums of cash to pay for the properties in Corsica. I had to give them a few days' notice, but they were incredibly helpful & accommodating to the need. It was worrying travelling with that much cash, but since I look like a scruffy 'erbert, I figured I wasn't likely to be targetted.

I'm not planning to do it again (nothing left in the bank accounts now), so don't bother trying to stalk & mug me !

Good luck!
Hils

Quick reply to this message
  #9 (permalink)  
Old 10th June 2010, 08:25 AM
Member
 
Join Date: Jan 2009
Posts: 594
Rep Power: 569
GALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond reputeGALLUS has a reputation beyond repute
8 likes received

Users Flag! Originally from france. Users Flag! Expat in switzerland.
Default

You can withdraw large amount in cash with prior notice to the cashier, some ask for 48 hours.


Last edited by GALLUS; 10th June 2010 at 08:34 AM.
Quick reply to this message
Closed Thread


Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Expat Forum For People Moving Overseas And Living Abroad forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Location
Where you live
Expat From Country
Please select the country you originate from. This will appear as a flag when you make posts on the site.
Expat To Country
Please select the country you have either moved to or want to relocate to. This will be presented on the site when you make posts.

Log-in


Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
withdrawing application sri2005_05 Australia Expat Forum for Expats Living in Australia 1 6th October 2011 11:33 PM
withdrawing visa application at any stage ajaypatil Australia Expat Forum for Expats Living in Australia 2 4th October 2011 02:05 AM
Withdrawing my name from 175?..possible? punoo Australia Expat Forum for Expats Living in Australia 1 2nd May 2009 08:04 PM
That pretty much sums it all! Easy Rider Dubai Expat Forum for Expats Living in Dubai 9 22nd January 2009 02:05 PM

FORUM PARTNERS

ExpatForum.com is owned and operated by VerticalScope Inc.

Retiring Overseas Guides | Moving Overseas Guides | Cost of Living | Health Care Guides


All times are GMT. The time now is 10:35 AM.


Powered by vBulletin®
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.