I try to leave banking for my paycheck and house bills and keep pin money cash and separate. The line has blurred a little the last few months and I found myself needing some cash from the bank for a purchase. My bank is only allowing $1k cash withdrawal per day since COVID scams or something. Luckily I tried getting the money out a few days ahead of time so I'll be fine. You may want to check with your bank before expecting to take out any large sum of cash.
I've worked in banking for a long time. This isn't anything new, you probably just never noticed. Every bank on the planet has a transaction limit, and a daily limit. Usually default is around 250 -500 / transaction and around 1000 / day max. They may have adjusted due to scams yes, but I can assure you that it was always there and no cause for panic. You can usually call the bank and have them adjust it up or down depending on their policies and your preferences.
Quoted from tommyp:I've worked in banking for a long time. This isn't anything new, you probably just never noticed. Every bank on the planet has a transaction limit, and a daily limit. Usually default is around 250 -500 / transaction and around 1000 / day max. They may have adjusted due to scams yes, but I can assure you that it was always there and no cause for panic. You can usually call the bank and have them adjust it up or down depending on their policies and your preferences.
As recently as a year ago I was able to get several thousand from this particular bank with no advance notice. No panic, luckily I gave myself enough time. This was a teller transaction, not an ATM. I did call the bank to see if they would raise the ATM limit for a day (I've done this successfully in the past). No dice.
Ahh. Thought you were talking ATM. Some have teller limits as well - only keep X amt of cash on hand. I know I've had to call ahead a few times. Good luck to ya.
Also, the tellers can write a log that your activity is suspicious, and there is no threshold that constitutes what is suspicious or not.
One time I was at the bank getting about 2 or 3 K and the lady didn't hesitate to say "oh looks like this is a joint account....we're going to need to verify some of your information". She said she needed more information about that person for MY account.
After going back and forth with her for a few minutes she finally broke down and gave me the cash. The entire time I knew the other persons name on the account was my beneficiary and I am the sole account holder so she couldn't have denied me based on that information. She probably failed to notice that information and got excited to try to not give me the money.
Quoted from Shredso:As recently as a year ago I was able to get several thousand from this particular bank with no advance notice. No panic, luckily I gave myself enough time. This was a teller transaction, not an ATM. I did call the bank to see if they would raise the ATM limit for a day (I've done this successfully in the past). No dice.
Strange. I have also pulled quite a bit out at 1 time including 4500 for a 4 wheeler just a couple months ago.
Never had a problem taking anything out. But I also keep what I feel is enough cash on hand at all times in case the deal of the century falls in my lap at any moment. The main thing is you gotta be prepared to do a deal on the spur of the moment because you just never know.
John
If you're that worried (I'm not judging btw) history has shown us that yes banks will stop you from getting your money. However if things get that bad paper money is worth toilet paper anyway. You're better off having a fair amount of silver on hand. It's perfect for small currency exchange (bartering) where as gold is worth too much and you can also throw silver in water as it helps prevent bacteria and algae from building up. My .02
Quoted from Dayhuff:Never had a problem taking anything out. But I also keep what I feel is enough cash on hand at all times in case the deal of the century falls in my lap at any moment. The main thing is you gotta be prepared to do a deal on the spur of the moment because you just never know.
John
I agree 100% with the cash on hand and I almost always have a good chunk of change. I should have replenished the cash supply right away.
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Wasilla, AK