Withdrawing money in neighbour countries

[galadrel]

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.

 

[noname]

After they withdraw it from offshore banks they lock it in chest and hide it in basement 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.

 

[RexS9999]

Put the cash in prepaid Visa or Mastercard. Use it for all your spending. In some countries this can be done at the Post Office.

 

[galadrel]

Put the cash in prepaid Visa or Mastercard. Use it for all your spending. In some countries this can be done at the Post Office.

Hmm I guess because prepaid cards do not hold names and so less risk?

 

[Martin Everson]

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.