From: tcmay@got.net (Timothy C. May)
Date: Sat, 27 Jul 1996 14:38:20 +0800
To: cypherpunks@toad.com
Subject: Re: Why the world needs privay protecting Ecash
Message-ID: <ae1ee9b1080210040265@[205.199.118.202]>
MIME-Version: 1.0
Content-Type: text/plain


At 4:18 AM 7/27/96, Duncan Frissell wrote:
>At 12:05 PM 7/27/96 -0700, Timothy C. May wrote:
>
>>If Alice uses her U.S. VISA card to make many cash withdrawals at ATMs in
>>Zurich, Lichtenstein, Geneva, London, etc., are there any U.S. requirements
>>that she obtain and fill out reports (in triplicate) on these transactions?
>>Suppose the cumulative ATM transactions hit the magic $10,000 level?
>
>It might be hard to get an ATM card that lets you take out $10,000/day.  I
>suppose a VISA card or a Debit card might allow that amount.

Who said it had to be in one day? I didn't. Most vacations to Europe last a
couple of weeks, e.g., "If this is Tuesday, I need to make a withdrawal in
Milano."

I think a lot of ATMs will now dispense big chunks of cash--I've never
checked on limits, but I notice that some CRT screens now have chunks up to
$600 or so listed.


>The form doesn't have to be filed by individuals only by financial
>institutions. An ATM doesn't involve the bank giving you cash unless you are
>using the ATM machine at your own bank.  I remember seeing some regs that
>did mention ATM transfers but can't recall specifics.  Usually, they figure
>that they have the "paper trail" anyway through your normal bank records.

Thanks. Still not sure if it applies, but I'd forgotten that it's up to the
banks to do the reports; good to know it's not up to me.

--Tim May

Boycott "Big Brother Inside" software!
We got computers, we're tapping phone lines, we know that that ain't allowed.
---------:---------:---------:---------:---------:---------:---------:----
Timothy C. May              | Crypto Anarchy: encryption, digital money,
tcmay@got.net  408-728-0152 | anonymous networks, digital pseudonyms, zero
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