Run on the banks?

[hawgrider]

Banks keep very little cash actually at their location.
Most small community banks will have 150-350K in the branch.
The balance of the cash is at the Fed reserve that is in the banks region.
The banks order the cash from the fed if you want to pull out a large sum in cash.

You’d be surprised at the number of people that still think all the money is in a big safe at their branch
BoF

I imagine it would take a week or two to get a 100k in hundred dollars bills.

[Inor]

I imagine it would take a week or two to get a 100k in hundred dollars bills.

If you have less than $250K on deposit, don't even think about withdrawing it! Your money is insured by the FDIC and if they do not cover, the financial system will have basically broken to the point that the last thing any of us are going to worry about is money. If you have more than 250K but less than a million, I still would not worry much. But in that situation, you could just break it into several accounts with each less than $250K.

If you have more than a million on a long-term deposit at a bank then you are a dumbass for not putting it to work making more money for you somewhere else!

Edit: Whenever I am going to withdraw more than about $2000 in cash, I always call ahead to make sure the branch has the cash on hand. I have had troubles even getting $5000 in cash if they are not planning on it.

[hawgrider]

If you have less than $250K on deposit, don't even think about withdrawing it! Your money is insured by the FDIC and if they do not cover, the financial system will have basically broken to the point that the last thing any of us are going to worry about is money. If you have more than 250K but less than a million, I still would not worry much. But in that situation, you could just break it into several accounts with each less than $250K.

If you have more than a million on a long-term deposit at a bank then you are a dumbass for not putting it to work making more money for you somewhere else!

Edit: Whenever I am going to withdraw more than about $2000 in cash, I always call ahead to make sure the branch has the cash on hand. I have had troubles even getting $5000 in cash if they are not planning on it.

Good info Inor !

[Box of frogs]

If you have less than $250K on deposit, don't even think about withdrawing it! Your money is insured by the FDIC and if they do not cover, the financial system will have basically broken to the point that the last thing any of us are going to worry about is money. If you have more than 250K but less than a million, I still would not worry much. But in that situation, you could just break it into several accounts with each less than $250k

If there is more than one name on that account say you and a wife or you and a few business partners then each depositor ha that 250k insurance. So a joint account would be covered for 500k.
It’s not always necessary to break a larger account into 250k sums. At least that’s how my wife explains it.
BoF

[Box of frogs]

I imagine it would take a week or two to get a 100k in hundred dollars bills.

a couple of days for sure but not weeks.
Wife has a customer that operates ATMs in gas stations. This guy get 200-300k a week every week to reload his machines.
He picks it up at the branch, tosses it in a gym bag a walks out like it was his laundry.
I’d have to have body armor and at least two hand guns packed to do that.
BoF

[BucketBack]

Feds said late today they'll "backstop" the depositors - so there shouldn't be any big run... last I checked DOW futures were up +200, so...
"Shouldn't" is the operative word, here.
God knows what the average Joe will do - if all he sees are MSM headlines, etc.
We'll probably pull out a couple grand tomorrow, just for shits & grins, and cause we'll be in town anyway.

Winter Weather Advisory anutter 1-3" . Schools, churches and food pantries closed.

Good day to take off work and hit up the bank ( s )

Cat's been gone a week. I moved the litter box back out`doors, and bam, here shows up the cat this morning.

Now that's money in the bank. Move the box, cat shows up.

I closed out my safety deposit box Thursday that I couldn't get into in 2020 . Not much of value, not $75 a year worth anyway

Found a lot of tweets at arfcom about a 8 am announcement, lots of back and back and more back

https://www.ar15.com/forums/general/...038#i103209038

[shootbrownelk]

Banks keep very little cash actually at their location.
Most small community banks will have 150-350K in the branch.
The balance of the cash is at the Fed reserve that is in the banks region.
The banks order the cash from the fed if you want to pull out a large sum in cash.

You’d be surprised at the number of people that still think all the money is in a big safe at their branch
BoF

It's NOT?.....WTF?

[Prepared One]

I imagine it would take a week or two to get a 100k in hundred dollars bills.

Ask for it in pennies, that'll piss em off.

[Chiefster23]

Drove by my local bank 3 times today and all 3 times the lot and drive-thru was empty. No customers. So no bank run here. But this is a very small locally owned bank.

[Slippy]

Drove by my local bank 3 times today and all 3 times the lot and drive-thru was empty. No customers. So no bank run here. But this is a very small locally owned bank.

Received some checks so went to the bank around noon. Nobody in the lobby, 1 van in the commercial lane, 1 car at the ATM, so I hit the second drive thru lane. In and out in 5 minutes.

Before leaving I asked Phil, our teller at the bank, if he had seen a RUN on the bank yet...and Phil just grinned, shook his head, NO, was all he said. ()