(Topic ID: 301713)

Paying Cash with these Prices

By mrm_4

2 years ago


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  • 215 posts
  • 93 Pinsiders participating
  • Latest reply 2 years ago by sbmania
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    #93 2 years ago

    This is a problem. Last time I needed to get money from bank. They told me that they possibly did not have the amount and next time to give them notice as they would have to allocate money from another branch. Personally I'm not comfortable handling large amounts of cash money. I've had one sketchy pinball pickup I ended up passing on game because of the large amount of cash and the remote aspect of the pickup.

    The other side of coin is when your selling lots of pins and go to deposit 10s of thousands in bank. Not a problem I've had for awhile though as haven't sold any big $ games in awhile.

    #97 2 years ago
    Quoted from pinballinreno:

    Bank interest is a joke..

    Ain't that the truth.. most banks tie interest to card usage now. Where you can earn more if you use the CC or
    Debit card they profit on. Remove that and your money is just sitting.

    The balance of Cash on hand / invested money (always risk albeit small ) / real estate and other commodities is essential.
    Knowing the correct % of what you need is key to not ending up working against yourself.
    Pinball is a first world problem though. I am not sure it really should be considered an investment opportunity. Not many
    people are realizing the high dollar returns that people think they can get. I've known people to sit on high dollar machines for months.

    #99 2 years ago
    Quoted from kool1:

    If you are at a real bank - should not be an issue.
    Mind boggling that people can't walk in and get $10-15K.

    Lot of banks are not sitting on large cash sums anymore. Branches are only allocated precise Cash reserves
    based on the estimated need for that day. This minimizes loss in the case of robbery. There are branches
    that operate with very low cash availability. Middle of the week at one of those branches and they could
    be very well out of the cash allocation that they might have on a Fri / Sat. Especially now with Covid
    slowing down the availability of Cash from business.

    So going to Walmart branch or Grocery store bank and trying to withdraw 10k can be a challenge for example.
    And probably should avoid that scenario.

    Small town banks even can have the same issue if they are a branch and have no reason for having cash.

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