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Withdrawing money in neighbour countries

galadrel

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Jul 24, 2020
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So I've been wondering what do people do with money after withdrawing it from offshore banks? I use EMIs, my monthly income is usually around 1k usd, I usually withdraw and put it back into an account in my home country. I do store some in cash, but cash can be stolen and so it's not the greatest option.
 
After they withdraw it from offshore banks they lock it in chest and hide it in basement :D joking .. well, I was doing the same as you. When I withdraw from ATM using EMI Cards at least before Payoneer didn't block me (without clear reason) I deposit some to my personal bank account, spend something and keep in cash too. in my country you can deposit 15k EUR each 6 months to bank without them asking you any questions of source of money. So I give some to my dad, mom too they deposit to their accounts later transfer as gift to me. But I had one time alarm ringing in a bank lol.. luckily I knew the branch employees and director so they didn't make me problem.
 
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So I've been wondering what do people do with money after withdrawing it from offshore banks?

Spend it.

I do store some in cash, but cash can be stolen and so it's not the greatest option.

So can money on bank account. Your more likely to lose money to a fishing attack or other cyber attack than a break in unless you live in the hood.
 
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