Cash is hard to come by?

FluffyMcDeath

FluffyMcDeath

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The Greeks, it seems, have lost confidence in their banks and are pulling their money out as cash.
I think of this now in light of the recent experience of a friend. She was trying to get money from her US denominated account as cash and despite three business days notice they were not able to put together 15 thousand dollars. Instead she had to wait another day before she could get $5000 and then had to return on two subsequent days for $5000 at a time. Most of the bills she got were uncirculated.

It made me wonder how many other people are trying to pull out their US cash now and are the banks just trying to make it difficult or is there a real problem satisfying demand.
 
Any time I've wanted to withdraw a similar amount, my banks have always appeared somewhat reluctant and make it a lot more difficult than a deposit.

I have always viewed this as the bank simply wanting to hang on to my cash for as long as they can.
 
It probably would have been faster and financially shrewd if she just used electronic transfer by buying gold close to market price for that day. I mean come on, US dollar in hand is one step above owning US T-Bills, just a matter of time before both are worthless.
 
Dammy said:
It probably would have been faster and financially shrewd if she just used electronic transfer by buying gold close to market price for that day.
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Apparently they still like those bills in Eastern Europe. Nostalgia perhaps? Or maybe there is just high demand for them from criminal Kosovo so they can buy more weapons from America for their Al Qaeda friends.
 
The bank I have trusted my money to is the Rabobank, if I want to get more than 5000 I have to come to one of their offices with a proper ID card, and if I recall correctly, it has more to do with taxes, cash stock of ATM's, and as a safety measure against debit card/pincode thieves.
 
Speelgoedmannetje said:
The bank I have trusted my money to is the Rabobank, if I want to get more than 5000 I have to come to one of their offices with a proper ID card, and if I recall correctly, it has more to do with taxes, cash stock of ATM's, and as a safety measure against debit card/pincode thieves.
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We have security and tax requirements too, of course, but the issue is that she had to wait because they didn't have the supply of bills that would cover this transaction. Despite 3 business days notice they couldn't amass the necessary bits of paper.
 
FluffyMcDeath said:
We have security and tax requirements too, of course, but the issue is that she had to wait because they didn't have the supply of bills that would cover this transaction. Despite 3 business days notice they couldn't amass the necessary bits of paper.
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Hm, my post was more a reaction to Robert's thoughts.
 
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