From: "Tim" 
Newsgroups: uk.finance
Subject: Re: Changing Money
Date: Tue, 27 Nov 2007 12:32:51 -0000
Bytes: 3440

> > "PeterSaxton" wrote
> > > It's not a question of suspicion rather it's
> > > a question of following the regulations.
> > > ...
> > > This is from HMRC:
> > > ...
> > > * Money Service Businesses or MSBs - these are bureaux de
> > > change, money transmitters and third party cheque cashers and
> > > * High Value Dealers or HVDs - these are businesses that deal in goods
> > > and accept (or are prepared to accept) in cash the equivalent of EURO
> > > 15,000 or more (approximately £10,000) for any single transaction.
> >
> > > If you are an MSB or HVD you need to:
> > > * ...
> >
> "Tim" wrote:
> > Don't you think it seems a bit silly to require extra constraints
> > when a 'bureaux de change' changes £200 into the equivalent
> > euros, but not for a shopkeeper accepting £250 in payment for
> > an item costing (say) £20 and giving the change in euros (where
> > the regs don't apply because it is not a 'high value' transaction)...?
>
"PeterSaxton" wrote
> What regulations don't apply? ...

Duh - the ones that *you* just quoted!
[Or are you going to say that you didn't quote them,
because you didn't put them in quotation marks?!]

"PeterSaxton" wrote
> ... If there is any transaction a person is suspicious of ...

I refer you to your own earlier comment (see top of this post) :-

   "PeterSaxton" wrote:
   It's not a question of suspicion rather it's a question of following the 
regulations.



Those particular regulations don't need to be followed by the
shopkeeper, because they only apply to MSBs and HVDs...
[I was referring to a shopkeeper who is neither a MSB nor a HVD.]

Now would you like to answer my previous question?