Cash Situation

  1. Relax. Most local banks don’t keep hundreds of thousands on hand. Make a request and in a few days they will have your money. I have done this twice in the past year to buy a truck and payoff a debt. Simple and safe.

  2. This is especially true for the branches inside stores. They don't have a large vault. The only time most will have they consider to be a large amount of cash is around the first of the month, and sometimes the more common paydays in the area so they can cash checks. Other than that they will have a very small amount of cash on hand.

  3. Main reason is you’re dealing with a branch inside a grocery store. They don’t carry lot of cash. Start of summer so you have lot people traveling stop into stores who get cash back. That’s why bank manager probably had put a rush on cash order. Nothing to worry about

  4. Others commenting saying banks don't keep tons of cash on hand are right. I was a teller for a little while, max amount in the drawer was 7k, with more in the vault. There are not hundreds of thousands of dollars lying around. They order cash just like restaurants order food. This doesn't sound weird at all. That doesn't mean people shouldn't think about having some cash on hand though.

  5. Cash is a weird thing in the US. We cling to piddlingly small denominations and limit the largest bills that can be had. We still make pennies and nickels at a loss. $100 is the largest denomination, which if you look at the same value over 50 years is like having $15 in 1972. In 1972 you could have $100 bills which is like having a $700 bill today.

  6. Getting cash is not a problem, the feds will print more, the problem is will it be worth what it is today a month from now.

  7. Last weekend I pulled out $600 in fives ones and various coins but I’m in US Southeast. I asked the teller before we started if that was gonna be a problem and she said not at all I have no shortages

  8. I won a football pool. The guys were so mad that a female won they gave me my 500 dollars in crumpled up one dollar bills in a garbage sack.

  9. Bank teller here. Don't panic. This happens from time to time, especially during economic down turns. Branches can only hold so much cash for safety reasons. When we did our ship out on Wednesdays we could only keep 10k back for the week. Add that to what was in the drawers and you're looking at 18k total! This is based on historical cash flow. All it takes is for it to be a holiday weekend, a large cash deposit client to not deposit that week (grocery stores and gas stations) or for the stock market to tumble a few hundred points and the prepperes and old folks show up and bleed us dry. It's really had to get an emergency order in. It costs the branch money to do so so most of the time we didn't do it. We'd spend people to other branches until we got our normal order.

  10. Janitor at two banks here...what is in those big vaults then? Im not allowed close enough to see but they seem to be good size rooms covered with massive vault door.

  11. I don’t think so, citizens there are just trying to get access to their own renminbi/yuan deposits. The Evergrande collapse didn’t help as that likely wiped out vast amounts of citizens investments.

  12. I pulled out $500 in one dollar bills for a party at a strip club last Saturday in PA. I called 2 days early to let them know. They said no problem, we will have it ready. Your bank sounds like trash friend.

  13. Hey you know any reason why tellers would ask me why I need to withdrawal small bills ..say 100 five dollar bills I get asked why and sometimes they need supervisor approval…But I could withdrawal large amounts like 2k in large bills and they wouldn’t even bat an eye?

  14. It's because they need enough small bills to fill regular change orders for business. $500 in 5s is several change orders for my local businesses. I'd have to get approval to do that from a supervisor to make sure we won't run out before the end of the week. $100 bills? No problem. Nobody takes those out unless they're paying for a wedding or going on vacay.

  15. OP your story is missing the key detail of how much you were pulling out. 1400$? It's a bit worry some, 200,000$ in 20-50's? Far less so.

  16. Low enough that it would be concerning for sure (especially citing your example). I almost put that in the post but didn't want to flash how much.

  17. paper shortages have been a thing for over a year now, with no sign of improvement in the near future.

  18. I've had this happen to me back in 2012. Just a bad job managing cash on hand at a branch in a grocery store. They should have referred you to another location and made a call.

  19. Understood, it was more so about the compounding factor that the grocery store itself also didn't have money to fill the self check out registers.

  20. Can confirm banks seem to not keep much cash on hand. 2 years ago I withdrew 20k and the teller said she had to check to make sure it was available. This was a standalone branch, not in a grocery store.

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