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DH taking money out of the bank
Old 03-19-2020, 10:50 AM
  #1

So yesterday by husband took $10,000 out of his bank account. In cash. And put it it in our gun safe. He just left to take out another $10,000. Am I missing something here? This is his own personal account (I have one too). He said he'll put it back in a month or two. The teller at the bank said a little old lady just withdrew $200,000 and put it in her purse to go home. Yowsa!

Our joint account has a LOT more than that in it. He says you never know when something will happen! What the heck? Anyone else doing this? Should I be doing this too?


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Wow.
Old 03-19-2020, 10:59 AM
  #2

I got $500 in cash. I thought maybe I was being overly cautious. I was also sort of mad because the ATM spit it out in $50s instead of $20s. I hate spending $50s.
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Old 03-19-2020, 11:03 AM
  #3

Many of our small local stores are no longer accepting cash. Debit or credit only. I use tap, so I don’t even need to touch the pad.
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Chase Bank
Old 03-19-2020, 11:09 AM
  #4

Chase announced the closing of branches w/o drive-up windows in our area. Not a bad idea to have some cash at home.
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Panic
Old 03-19-2020, 11:09 AM
  #5

Combine the run on cash with the increase in purchase of guns and ammunition and we have quite a combination...


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Old 03-19-2020, 11:11 AM
  #6

I suppose people are afraid of a run on the banks, which happened during the Great Depression. This caused banks to fail and people lost their savings.

Now we have FDIC insurance to protect against that. If people start a run on the banks, though, I think federal and state governments will order bank closings.

For that reason, and others, I think it's a good idea to have a few hundred dollars on hand in cash. Really, that's not a bad idea at any time because you don't always get this much warning about a crisis. But I think it's foolish to take out large amounts and carry it around or keep it in your home.
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Old 03-19-2020, 11:12 AM
  #7

When I worked at the bank, we were told that if a person withdraw more than $10,000, we had to fill out a report for investigation of money laundering. I'm not sure how the little old lady got $200,000 at one time.
It scares me to think that people are starting to do this. That's the kind of thing that will put the country into a depression.
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Old 03-19-2020, 11:15 AM
  #8

I'm not big into panicking. Having said that, I've had a cash stock pile at home for quite some time, now. Not $10,000 worth, though.

My bank only allows drive-through transactions right now.

If these are the end times (as some say they are) all the money in the world isn't going to help me.

I do believe every person must do what they feel is right in crisis such as this. If your DH is doing this have you asked him if he thinks you should?

And I agree with Linda and Tori who posted right before I did. Panic isn't going to help anything.
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There is no bank that would hand out $200K
Old 03-19-2020, 11:21 AM
  #9

in cash to a little old lady or anyone else. That teller was yanking your DH's chain.

I am actually surprised they were able to hand out 10K. Been thinking of doing the same, but I know my sweetie has a #### ton of cash lying around, so I will use him as my bank.
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Old 03-19-2020, 11:28 AM
  #10

My dh and I were just talking about this yesterday. I think withdrawing all your funds is not necessary, but having some cash is good.

Not heading a good direction though if people are going that direction.


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Old 03-19-2020, 11:31 AM
  #11

I think having some cash on hand is good, but I don´t see why you would need that amount. Like someone else said, if it gets to that point then all the cash in the world won´t help you.

Everyone needs to use common sense, because if they all start running to withdraw their money it will cause more issues.
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Old 03-19-2020, 11:58 AM
  #12

I seriously don't see the need for this. I also don't believe that lady withdrew $200,000.

OTH, it's not a bad idea to have some cash on hand ($500-1,000), but $20,000???
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Old 03-19-2020, 12:06 PM
  #13

We are keeping some cash on hand but not that much!
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Old 03-19-2020, 12:21 PM
  #14

In my state they are still taking cash but really are discouraging people to use it. Plastic can be wiped down I believe is the reasoning. We have about $250 in cash at our house. My parents in their 70's keep a couple thousand on hand in their safe at all times. My dads parents had several thousands hidden around their house at all times. Both were children of the depression and used several banks in our area to keep the rest of their money. DH and I only use two banks, we don't have even money to worry about needing more.
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Old 03-19-2020, 12:45 PM
  #15

I don't plan to stockpile cash. That said, I keep $500 cash in the house. Since a hurricane's heavy rains and flooding a few years back caused long-term power outages and business closures, we decided to keep enough for gas, emergency groceries, and maybe a night or two at a hotel somewhere.

And I agree about the $200k. That teller was kidding, or was VERY misinformed.
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Maybe DH being a cop
Old 03-19-2020, 12:55 PM
  #16

Has something to do with it. He trusts no one but now more than ever. I did ask him if I should be taking money out and he said it wasn’t necessary since he is.

As for the lady taking out 200k, he said the teller was dead serious but who knows?

I really don’t want to panic about everything. I just want to go back to school eventually. My windows only need washed so much.
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banks
Old 03-19-2020, 01:13 PM
  #17

Quote:
in cash to a little old lady or anyone else. That teller was yanking your DH's chain.
I agree, there is no way they even keep that much money in their vault.
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Old 03-19-2020, 01:22 PM
  #18

I've been surprised my husband isn't doing the same thing. He has a tendency to think in terms of doomsday. That said, he ALWAYS has a small cash stash at home.
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Old 03-19-2020, 03:20 PM
  #19

shoot--I wish I HAD money to take out!

yes, some place around here have stopped taking cash. huh.
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Old 03-19-2020, 04:21 PM
  #20

I thought I took out a lot. I went yesterday and took out $200.

That should last me a while. I charge most everything.

I do most monthly banking at the small teachers' credit union. They sent out emails that if you don't have a debit card, it would be a good idea to get one. So I caved and ordered one.
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Old 03-19-2020, 05:12 PM
  #21

Am I the only one that is impressed that he has that much in the bank??? I have a cushion, but definitely not that much. Good for you guys!!
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Old 03-19-2020, 09:16 PM
  #22

Quote:
Am I the only one that is impressed that he has that much in the bank??? I have a cushion, but definitely not that much. Good for you guys!!
I thought that, too. Especially for a teacher and a cop. Impressive.

We don't have that much but/because we have been doubling/tripling up paying off our mortgage. Not sure if we'd have that much even without paying extra on our mortgage, but at least I feel good doing that!
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