I know that the 500€ bill ceases to exist on the new series of bank notes (as they capped it at 200€) but those who possess the older series with that denomination can still use it as legal tender, but is it that common for Europeans to have a 200€ bill in their wallet? I’ve heard as to why they ceased on printing 500€ is mainly relating to both criminal activity or money laundering as that denomation has been abused as such.
200€ is the second highest one, although the older 500€ bill is no longer in circulation. Do ATM’s disperse either 500 & 200€ bills regarding cash withdrawals within that amount or do they just give that amount in smaller denominations equating to that much (like consisting of 20, 50 or 100€ bills)? If ATM’s don’t just give out a 200€ bill when withdrawing that much or more, does one have to visit a bank (branch) to get one?
Yeah it depends a lot on the situation and the sector as well. I think for stuff like car/motorcycle parts cash, even large amounts, are more common. Paying less than 1000 euro worth of stuff with the almost matching amount of cash would mostly be fine. Although 200 euro bills aren’t accepted everywhere and would definitely be thoroughly checked for counterfeit. But anything above 1000 euro would have eyebrows raised, especially if the person has multiple thousands on them in large bills.
They would be reported to the police for them to keep an eye out and/or do a check on where the money came from. It isn’t illegal on its own, but would warrant a check. In my experience many shops, especially in city centers, maintain good contact with the local police. And reporting such behavior is routine. They also report people acting weird in general, not because that in itself is illegal, but to point the police in the right direction.