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Old 02-01-2011, 05:08 PM
 
5,546 posts, read 9,972,910 times
Reputation: 2799

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Quote:
Originally Posted by 11thHour View Post
Wife works for a local CU. She tells me this is the case. They wouldn't be able to cash a $30k either without enough advance notice.
Well, this thread is informative to me. I walked into my branch with a $20K check the other day and they put 75% on hold. Now I understand why.

So thanks for the thread!
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Old 02-01-2011, 05:12 PM
 
24,834 posts, read 37,234,070 times
Reputation: 11538
Quote:
Originally Posted by mistygrl092 View Post
Well, this thread is informative to me. I walked into my branch with a $20K check the other day and they put 75% on hold. Now I understand why.

So thanks for the thread!
They also will do that until the check clears.
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Old 02-01-2011, 05:15 PM
 
Location: Mid Missouri
21,353 posts, read 8,423,435 times
Reputation: 33339
Quote:
Originally Posted by mistygrl092 View Post
Well, this thread is informative to me. I walked into my branch with a $20K check the other day and they put 75% on hold. Now I understand why.

So thanks for the thread!
If you were dealing with that kind of number, you should have required a wire transfer or a certified bank check. Either one is cash on the barrelhead.

The problem with the prostitute, is they normally deal with credit cards in advance. This must have been a 'tacked on extra'. lol
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Old 02-01-2011, 05:18 PM
 
Location: Near the water
8,237 posts, read 13,464,619 times
Reputation: 3899
Our banker at Wachovia was telling us that each branch is required (federal regulations) to keep enough cash on hand that would cover every "regular checking" account, should the account holders walked in and asked ir their cash.

Perhaps that branch doesn't have many "regular checking" accounts. LOL!!!
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Old 02-01-2011, 05:20 PM
 
5,346 posts, read 4,033,438 times
Reputation: 545
Don't most bank branches have a vault?... Just wondering... I guess those vaults are empty...
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Old 02-01-2011, 05:24 PM
 
Location: No Mask For Me This Time, Either
5,640 posts, read 5,058,190 times
Reputation: 6048
Quote:
Originally Posted by rogerbacon View Post
Well, in defense of us 'average consumers' we don't often find ourselves cashing $30k checks. I really wish I had the problem of having to call ahead to cash my paycheck because it was so large.
I wish squandering $30K on porn stars was an option for me. I have to actually work for a living!
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Old 02-01-2011, 05:27 PM
 
24,834 posts, read 37,234,070 times
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Quote:
Originally Posted by Workin_Hard View Post
I wish squandering $30K on porn stars was an option for me. I have to actually work for a living!
Hold it!!!!

Maybe she WAS worth it.....
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Old 02-01-2011, 05:36 PM
 
998 posts, read 1,211,819 times
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I have had many banks turn down cashing $5K & $7K checks over the past 2 years. I cash & withdraw large amounts often & I usually call ahead to make sure they can cover it. If they can't I tell them order the cash for the next day when I come in. They always get the money the next business day. The largest withdraw I have done at once was $50,000.
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Old 02-01-2011, 05:38 PM
 
Location: Prepperland
18,867 posts, read 14,057,900 times
Reputation: 16578
Most Americans are unaware how little amount of paper currency is in actual circulation.
Check out the Federal Reserve site for M1 and M2 values.
Then divide by the population.
Then think about all those folks who have accounts denominated in much higher values.
Then think about one's chances of getting "cashed out" in a bank run.
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Old 02-01-2011, 05:39 PM
 
24,834 posts, read 37,234,070 times
Reputation: 11538
Quote:
Originally Posted by KrazeeKrewe View Post
I have had many banks turn down cashing $5K & $7K checks over the past 2 years. I cash & withdraw large amounts often & I usually call ahead to make sure they can cover it. If they can't I tell them order the cash for the next day when I come in. They always get the money the next business day.
I have just driven to a larger branch too.

I am just taking my own money out.

All of the business checks have to be deposited.
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