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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
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!!!
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!
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.
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.
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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