So I was like ‘look I declare $2.7m, here it is, and they’re like ‘oh, we’ve got to count that’,” Bell says. Chris McKeen/Stuff A young south Auckland man does not have a business bank account for his money remittance business, so transports bundles of cash in his backpack. Stuff reported one money remitter is carrying thousands of dollars around in his backpack because his remittance business has been “de-banked”. Chris McKeen/Stuff One money remitter is carrying thousands of dollars in his backpack because he has been de-banked. I have a business and no bank account.”New Zealand banks view businesses like money remittance companies as too risky to have bank accounts.

Source: Stuff June 03, 2022 01:06 UTC