How does money travel from one country to another?

[HairyArsedBloke]

A bloke with a bag full of used notes wearing a sharp suit and sunglasses gets on a plane from the Cayman Islands.

Please do not try this yourself! Carrying large amounts of cash is almost a capital crime these days. The limits on what you are supposed to declare are very low: EUR 10,000 into and out of the EU which also applies to the UK. Also ‘cash’ includes banker’s drafts and travellers cheques. If they catch you they will make your future life so bad as they go through it with a fine tooth comb that you’d wish they did shoot you.

I’ve seen it happen to someone who, by his own admission, got a bit lippy to the excise boys when they found a serious wedge in his luggage.

I never carry much more that 1K USD when travelling. Also, I keep as much money out of the UK as possible and live a very simple and low-key life when there.

[LittlestHobbo]

how does the physical money change hands though? I guess at some point a credit needs satisfying..is it like an end of month run..

Think there should be an island somewhere that holds all the money and then they could just re-dibby it up as need be, would reduce carbon footprint... might cause the odd war however..

[Advocate]

how does the physical money change hands though? I guess at some point a credit needs satisfying..is it like an end of month run..

Think there should be an island somewhere that holds all the money and then they could just re-dibby it up as need be, would reduce carbon footprint... might cause the odd war however..

Don't Switzerland and Lichtenstein have a monopoly on this, althought theyr'e not islands?

[LittlestHobbo]

I did wonder about switzerland..how come no one ever attacks it? I guess it would be a kind of armageddon scenario..

[TheBigYinJames]

I did wonder about switzerland..how come no one ever attacks it? I guess it would be a kind of armageddon scenario..

They just stab any invaders with their small red knives.

[LittlestHobbo]

and i've bet they've all got at least the 15 bladed version plus a wierd shaped nuclear blade that no one knows what to do with..

[Advocate]

and the toothpick and tweezers won't have fallen out either...

[NotAllThere]

The Libyans and the Swiss are having a bit of a spat at the moment, since Gadaffi junior got arrested for slapping some hotel staff. The Libyans have threatened to close their Swiss bank accounts. It would seem to me that the Libyans should be more worried about the Swiss freezing their bank accounts.

Back to the original post, $40M at current exchange rates is about 10 Francs, so I imagine they'd just put in an envelope and post it.

[scooterscot]

The Libyans and the Swiss are having a bit of a spat at the moment, since Gadaffi junior got arrested for slapping some hotel staff. The Libyans have threatened to close their Swiss bank accounts. It would seem to me that the Libyans should be more worried about the Swiss freezing their bank accounts.

Back to the original post, $40M at current exchange rates is about 10 Francs, so I imagine they'd just put in an envelope and post it.

Fat chance - the Libyans are sitting on so much oil (and it's practically on the Swiss doorstep) junior could slap the staff all the way to the bank.

[expat]

and the toothpick and tweezers won't have fallen out either...

Then they must not have the Victorinox, but the Wenger, where you can not get the toothpick and tweezers out after you have cut your nails with their superior scissors.