I kid you not. I went to my bank on Monday to withdraw some cash. There was plenty of money in my account to more than cover the withdrawal. I was told they could not give it to me because they had run out of cash! They said something about where the 1st of the month fell this month and not as many usual depositors depositing money that day (Monday, August 3rd) but I didn't follow their line of reasoning. I'm not talking $10,000 or $20,000 or anything like that. I'm talking just a couple thousand dollars for cash expenses for the month. They said I could try another branch (the branch I use is a small branch of a large chain of banks) or return Thursday when they would have the cash. They said they only get cash deliveries once a week on Wednesday.
I was disturbed by this, to say the least. Thankfully, I did not need the cash immediately but what if I had? Aren't banks suppose to have cash in them? After researching this on the internet I found that this is not all that unusual. Apparently it is not uncommon for banks to run out of cash before hurricanes, etc., when so many people wait until the last minute to make cash withdrawals.
After telling my sister about this she said that not long ago she wanted to withdraw a sizable amount of cash to put in her safe deposit box. It took her two weeks after she requested the cash for them to let her have it. Then it took an hour of waiting on the day she was to receive it and another hour while three different bank employees had to sign off on it. And the money never left the bank! It went right into her safe deposit box in the same bank! It was her money, in her own account, not an annuity or CD or anything like that, yet she had to wait two weeks for her own money! It's not like she is a suspected terrorist or drug dealer. She (and I) are elderly, middle class grandmothers known to the bank personnel!
What is wrong with this picture? Is a bank running out of cash on a normal day that common? Are we not entitled to our own money when we request it? I am very disillusioned and would like to close our accounts but don't know any place safer to put it. Yet another reason to keep cash on hand, in a safe place, at all times.
My Bank Ran Out of Cash on Monday!
I was disturbed by this, to say the least. Thankfully, I did not need the cash immediately but what if I had? Aren't banks suppose to have cash in them? After researching this on the internet I found that this is not all that unusual. Apparently it is not uncommon for banks to run out of cash before hurricanes, etc., when so many people wait until the last minute to make cash withdrawals.
After telling my sister about this she said that not long ago she wanted to withdraw a sizable amount of cash to put in her safe deposit box. It took her two weeks after she requested the cash for them to let her have it. Then it took an hour of waiting on the day she was to receive it and another hour while three different bank employees had to sign off on it. And the money never left the bank! It went right into her safe deposit box in the same bank! It was her money, in her own account, not an annuity or CD or anything like that, yet she had to wait two weeks for her own money! It's not like she is a suspected terrorist or drug dealer. She (and I) are elderly, middle class grandmothers known to the bank personnel!
What is wrong with this picture? Is a bank running out of cash on a normal day that common? Are we not entitled to our own money when we request it? I am very disillusioned and would like to close our accounts but don't know any place safer to put it. Yet another reason to keep cash on hand, in a safe place, at all times.
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