Crown

RC:

 

In Germany for example, if someone is paying with 500 EUR banknotes, it can trigger a money laundering alert. Also if Germans customs "catches" you with more than one 500 EUR banknote in your pocket at the border, be sure they will search you (and your car) there thoroughly.

i thought someone is allowed to carry cash up to 15.000 EUR across borders in the EU. But I may be wrong.

"Form follows function"

reginos:

RC:

 

In Germany for example, if someone is paying with 500 EUR banknotes, it can trigger a money laundering alert. Also if Germans customs "catches" you with more than one 500 EUR banknote in your pocket at the border, be sure they will search you (and your car) there thoroughly.

i thought someone is allowed to carry cash up to 15.000 EUR across borders in the EU. But I may be wrong.

The limit is, as far as I remember, 10000 EUR but from what I heard from people working at customs, even amounts over 5000 EUR are usually "reported" to the tax office, most travelers may not be aware of that.  Many travelers also don't seem to be aware of the fact that German customs has much more rights than even the police. They don't need any particular reason to search you or your car, they can do it whenever they want and how they want it. Customs is kind of a "everything is allowed" agency over here, at least at borders (airports, ports) and around 30 or 50 km (not sure) around ground borders.

I once had an issue with my local bank, the bank I do my business transactions and everything else with. I paid a bill of 2600 EUR for a piano for my kids, a gift from their grandparents, in cash at the bank counter. The reason was simple: Since both grandparent pairs paid for the piano, both gave half and to make it simple, in cash. When I paid the bill at the bank counter, the woman there, I know her for over 20 years now and she knows our business very well, told me, that she has to make a money laundering report for cash sums paid over 2000 EUR. I felt kind of stupid and even embarrassed. After that, I called the general manager of the business division of my local bank and told her about this. She apologized but apparently the woman at the bank counter is obliged to report cash payments over 2000 EUR. This was three years ago, I don't even know if things didn't even get worse now.

This is another reason I hate paying cash over here but the most important reason is: My money is at the bank, so I would have to go to the bank first and get the money, which is kind of time consuming. ATMs are paying out a maximum of 1000 EUR per day.

I actually order a lot from Amazon, even minor stuff because it saves me time and time is money. 

In Italy, I saw tax fraud with my own eyes since I didn't get a receipt (it is mandatory by the law in Italy to give customers a receipt, it is a serious offense not to provide a receipt). I'm not a snitch, never was and never will be but to be honest, this just isn't right. We pay our taxes here in a very honest way (most of us anyway) and many other people do the same in Italy too. Tax fraud is a serious issue now, especially since countries like Greece or even Italy and Spain to some point, are at the brink collapsing economically. I hate paying taxes, why should I lie but I do it because I also think of the future of my country. Those who commit tax fraud are not only criminals but also very bad citizens. You can't live in a country and benefit from everything and expect the government to take care of everything but not pay your share of the bill. This can't work and it will create only more problems.

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RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

The limit is, as far as I remember, 10000 EUR but from what I heard from people working at customs, even amounts over 5000 EUR are usually "reported" to the tax office, most travelers may not be aware of that. 

I once had an issue with my local bank, the bank I do my business transactions and everything else with. I paid a bill of 2600 EUR for a piano for my kids, a gift from their grandparents, in cash at the bank counter. The reason was simple: Since both grandparent pairs paid for the piano, both gave half and to make it simple, in cash. When I paid the bill at the bank counter, the woman there, I know her for over 20 years now and she knows our business very well, told me, that she has to make a money laundering report for cash sums paid over 2000 EUR. I felt kind of stupid and even embarrassed. After that, I called the general manager of the business division of my local bank and told her about this. She apologized but apparently the woman at the bank counter is obliged to report cash payments over 2000 EUR. This was three years ago, I don't even know if things didn't even get worse now.

The cash limit at the borders is 10.000 EUR - if you carry more money with you, you have to declare it:

http://ec.europa.eu/taxation_customs/common/travellers/enter_eu/index_de.htm

I am suprised about your piano story, because I bring weekly cash money to different banks. The limit normally is 15.000 EUR, over this amount the bank has to make a copy of your ID. But the limit for cash in foreign money is 2.5000 EUR. (Geldwäschegesetz - law against money laundering)

http://de.wikipedia.org/wiki/Bareinzahlung

Sorry for OT

Your Panamera looks so great - wish I could use it for my familiy-holiday next week - but we have to use our small BMW Estate.

Blueflame

Another new rule at my bank is that when I deposit €500 notes, each has to be photocopied and I have to sign my details on the copy. Bank employees get very annoyed when they see customers with these big notes.

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"Form follows function"

yes, banks need to comply with a lot of very time consuming procedures - the problem is, once the bank does not take care of it, litigation or a friendly invitation to the German regulator will follow...just take the example of the EUR 500 note, which is said to be the very transfer medium for cash payments. And, imagine, what would happen if you ask for EUR 500 notes when withdrawing money and one of these notes was used for any sort of illegal business  in the past (which, obviously, thebank didn't know of)..., then the bank would be the one to blame...crazy world...

Oh, and by the way, there are also nice things in this world...like your black Panamera, though, visiting the south-eastern part of the Garda lake frequently, the car has to be a pain in the neck to park in town...I just imagine the car parks in Malcesine for example, where the layout of the individual parking lots seem to have followed a more Fiat 500ish size...

blueflame:

I am suprised about your piano story, because I bring weekly cash money to different banks. The limit normally is 15.000 EUR, over this amount the bank has to make a copy of your ID. But the limit for cash in foreign money is 2.5000 EUR. (Geldwäschegesetz - law against money laundering)

You misunderstood my post. Making large cash payments (Einzahlung) for my business or whatever is no problem. The issue at hand was paying a bill in cash (making a cash transfer to another company to pay a bill - Überweisung).

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

d997h:

Oh, and by the way, there are also nice things in this world...like your black Panamera, though, visiting the south-eastern part of the Garda lake frequently, the car has to be a pain in the neck to park in town...I just imagine the car parks in Malcesine for example, where the layout of the individual parking lots seem to have followed a more Fiat 500ish size...

Malcesine...tell me about it.  Horrible parking lots but I managed (we watched some hang parachuting from a parking lot next to the lake and I barely was able to enter the parking lot).

Amazing car, even with it's size (I can live with that) but the small luggage room is really an issue.

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

Hi RC, very nice read, congratulations.

Referring to one of your posts where you were indicating that in Italy you have seen fewer nice cars than in the years before: it is the reality and it is due to two factors , the recent and very high yearly taxes on cars with more than 250 Hp and the very frequent financial controls happening roadside (the Guardia di Finanza which is the italian finance police is stopping "nicer" cars and verifying if the owners can afford such cars. If you don`t have anything to hide, it`s just a nuisance).

I am all for those controls, for too many years in Italy an important part of business owners did not report what they really earned and those are the ones to blame (plus the inefficient state structure) for the situation in which Italy finds itself today.

Regarding the receipts : In Italy you should always request the receipt,  the business owner risks a fine of minimum 516 Eur up to the closure of the business if not issuing it and if caught by the financial police

Sorry for the OT

911 Club Coupe, 72' 911 Targa 2.4 S, 12' Audi S4 Avant

m4ever:

Regarding the receipts : In Italy you should always request the receipt,  the business owner risks a fine of minimum 516 Eur up to the closure of the business if not issuing it and if caught by the financial police

I know but I really didn't want to be that "annoying German tourist" who requests a receipt. I actually have a lot of sympathy for business owners but tax fraud affects the honest business owners in these countries and in the end, everybody.

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

Hi RC - Just returned from two weeks in Spain - 12 days in Marbella, Soto Grande, Gibraltar - and two in Madrid.

I agree that using a good credit card is a must. I get as little cash in pocket as possible and always use an ATM if I need more - never the Change counters at airports, train stations etc. My US bank charges NO fee for the Cash and had the BEST exchange rates. 100Euro cost me $127 dollars via the ATM, vs. $156 if I had used the change counter. They have to make a living too, but not with my money.

I enjoyed the AVE train to Malaga - that was the extent of my high speed travel. After that it was the family Lexus 400 Hybrid. No one bothers with it since it has Andorran plates. I parked mostly at the beach and Polo fields and AVOIDED the crazy small parking garages like in Marbella! Love the beaches in Spain - my girlfriend got a very good tan all over. :-) - I noticed the Spanish men looking at her breasts more - like the US breasts are more forbidden, lol.

Your Hotel must have been very nice. I stayed in one of my father’s guest houses on his compound in Soto Grande. Maid service, pool, privacy, close to the beach, daily Polo matches in the afternoon - $0 per night. I did pay $100 Euro for two nights at a four star Hotel Friday and Saturday night in Madrid. Great rates - 1/4 of what I paid last year at the same time.

Saw INCREDIBLE cars and Boats in Marbella last Friday night! All Carbon F430 was a standout! Anyone else ever seen this car? I looked like the entire body was in black Carbon fiber. The boats - don't be me started. I did not seem like the economy was that bad in Marbella - but Madrid was not holding up so well. Did buy many nice items at huge discounts - bargains were to be had big time so I took advantage and helped out as best as I could. Being the good capitalist that I am.

Great  to see you had a nice vacation as well!

Hi RC,

Great trip ! nice reading and picturing the trip......... happy holidays

Cheers,

Mark

2008 Cayenne Turbo (sold) - Looking for a 911 in Brunei, any suggestions?

thanks for the nice write up and pics RC, really lovely!  

Your car really looks great i must say, i am not astonished that someone thought it was a facelift!

turbolite

turbolite:

thanks for the nice write up and pics RC, really lovely!  

Your car really looks great i must say, i am not astonished that someone thought it was a facelift!

Thank you. 

Last Sunday, I have been at Lake Starnberg and when I returned to the car, a couple of younger people in their 20s were taking photos of my parked car. Two of these guys were arguing if this is the new(?) Panamera and they were amazed how good it looked. The disappointment started when one of them asked me about the weight and I replied "2 tons". A minute later, I added that the car does 0-100 kph in 3.7 seconds and 0-200 kph in 11.7 seconds (I actually only measured 0-100 kph, which was 3.74 precisely and 100 to 200 kph, which was 8.03 seconds) and they were shocked. One of them asked about the top speed and when I told them that I've only seen 310 kph on the speedo so far because I didn't have much chances to test top speed, they were again amazed but also worried. A whole discussion about how the tires cope with the weight at that speed and aerodynamics started, I added that the car did the Nordschleife in 7.52 min and Hockenheim in 1.12.something and they were really enjoying this. Unfortunately my wife (and their girl friends , it was a group of 8 or 10 people) didn't enjoy this too much because she was hungry (we were on the lake in a boat for over two hours before that), so I had to stop talking to them but this was actually the first time I haven't felt any kind of envy or something similar from people, it was a very pleasant experience. Btw: They were physics students at the university in Munich, at least two of the guys I talked to. 

You should have seen the face of my son, he enjoyed that discussion tremendously and apparently he was very proud of his old man...or rather the car. 

Another interesting fact about the PTS: I have been to Fürth on Saturday and we decided to avoid the Autobahn because of huge traffic at that time. Over a distance of 150 km, I drove within the legal speed limit (100 kph) but drove in Sport Plus mode and passed a couple of trucks, tractors and buses on the way, the average fuel consumption has been 11.8 l / 100 km. Amazing. On our way back on the Autobahn, almost no speed limit, the average fuel consumption has been almost 26 l / 100 km. So you can have it both ways on the PTS, the driving style makes a huge difference. I think if people stay under 180 kph, the average fuel consumption should be in the 13 l / 100 km range. Which is acceptable for such a car in my opinion.

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RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

@RC, very informative your wrire ups on the PTS at the various threads and pleasant to read.

The overboost function, is limited to few seconds as a precaution for undue stress on the engine plus other components, I presume. How come they deleted it on the company loaner, without problems. Did you take up this issue with Porsche at all? I think that on the 911 Tunbo the overboost is only 8 secs.

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"Form follows function"

reginos:

@RC, very informative your wrire ups on the PTS at the various threads and pleasant to read.

The overboost function, is limited to few seconds as a precaution for undue stress on the engine plus other components, I presume. How come they deleted it on the company loaner, without problems. Did you take up this issue with Porsche at all? I think that on the 911 Tunbo the overboost is only 8 secs.

 

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"Form follows function"

If the overboost function is limited as a precaution for undue stress, why can I re-activate it immediately (I can do it in a second or two now, I trained it ) ? 

Speaking of overboost: Many years ago, when Porsche was developing the 997 Turbo, they "asked around" what kind of stuff people would like to see on the "new" Turbo. I remembered the overboost function of my Lancia Delta HF Integrale and suggested an overboost. I even wrote about it on Rennteam, I'm pretty sure the article is somewhere in the archives. Of course this doesn't mean they took my idea, I assume others had it too but it is an interesting co-incidence because at that time, I didn't know of any other street production car to have an overboost function.

Oh, I'm not surprised at all that the factory testcar had a permanent overboost function. 

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

Christian,

You bake the cake and you eat it all, great stuff. What a car! Dr Jekyll and Mr Hyde. 

12 l/100km is amazing, simply amazing. What do you mean by pts?

Futch:

Christian,

You bake the cake and you eat it all, great stuff. What a car! Dr Jekyll and Mr Hyde. 

12 l/100km is amazing, simply amazing. What do you mean by pts?

 

PTS = Panamera Turbo S. It is kind of tiresome to write the whole long name. 

Yes, under 12 l / 100 km is amazing and I wasn't even going slow, just normal.

Still...once you push it, expect a fuel consumption of over 20 l / 100 km.

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4

RC:

Futch:

Christian,

You bake the cake and you eat it all, great stuff. What a car! Dr Jekyll and Mr Hyde. 

12 l/100km is amazing, simply amazing. What do you mean by pts?

 

PTS = Panamera Turbo S. It is kind of tiresome to write the whole long name. 

Yes, under 12 l / 100 km is amazing and I wasn't even going slow, just normal.

Still...once you push it, expect a fuel consumption of over 20 l / 100 km.

Ah yes of course PTS, sorry!

Sure thing about eh consumption, like Turbo cars, the 997 Turbo S is the same, around 11 in cruising mode and then sky is the limit if you push it. I like the dual personally of those cars.

And you say the luggage compartment is bad but is it that bad? Also, I hope they will make a three seat bench in the back soon. I read rumours they're going to introduce a shooting break like the Merc in Paris. 

RC:

PTS = Panamera Turbo S. It is kind of tiresome to write the whole long name. 

 Initially, I assumed you had ordered a Paint To Sample Panamera Turbo S ..

sfo:

 Initially, I assumed you had ordered a Paint To Sample Panamera Turbo S ..

Nope...the price tag was already insane enough (slightly over 200k EUR), no need for adding salt to my wound. 

Luckily, I got a good lease deal, otherwise I wouldn't have been able to afford such a car.

RC (Germany) - Rennteam Editor Porsche Panamera Turbo S, BMW X5M, Mercedes C63 AMG Coupe PP/DP, Mini Cooper S Countryman All4