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Discussion Starter · #1 ·
Does anybody here work at a bank? The reason I'm asking is because of what a bank teller told me when I went to the bank at lunch.

I got paid today via direct deposit. On paydays, I always go to the bank and withdraw money that we have budgeted for food, gas, etc since we don't use credit cards. In addition to that, I also took money out of savings for a trip we are taking this weekend. Whenever I go, I already have how much I want broken down by bill denominations. I asked for so many hundreds, fiftys, twentys, etc.

The part that I thought was odd was that the teller said they were out of hundreds and running low on fiftys. For those of you who work in a bank, how much cash is typically kept? Would it be normal to run out of the larger denomination bills? I was wondering since I wasn't sure if this was a sign people were starting to pull money out of the banks or not.
 

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I'm not sure, but I took all except a buffer in my savings and what I need in my checking out and I think MANY others are doing the same. I would recommend people think about this and forget about feeling bad or responsible for a bank run, that will most likely be blamed at some point for the bank problems in the near future. The FDIC guarantees up to $100,000 and many people feel safe with that guarantee.. What happens when the FDIC can't cover all of the losses as the banks start dropping like flies?

I realize you asked a specific question and not my advice on the subject, but I think it's an important thing for everyone to consider, regardless of the panic that can occur. YOUR money is no good if you can't get to it. And chances are, by the time you realize you don't have access to your cash, there's a fairly good chance that there will also be credit card issues as well...

Also, buy some silver. For when even the dollars you DO have aren't worth anything.
 

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I work in a bank, the lending side. Some of those questions I can't answer. The tellers were low on hundreds today, we just went and got some more. It happens. Cash is usually managed pretty closely because cash in the vault is not earning interest for the bank and in the event of a robbery you can keep your losses to a minimun.
 

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My wife was a bank teller so I asked her. She says it could have been that the teller just didn't want to be bothered getting more bills from the vault as there is a bunch of paperwork involved. Or it could be that they were out. She said it would depend on the individual branch to determine just how much money they'd keep on hand (Small branch = small amount of money / large branch = large amount of money)
 
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Discussion Starter · #5 ·
Thanks for the information. Just to fill in a bit more details based on what you bring up. When I asked for the fifty's she didn't have any and the teller next to her didn't have any. That's when she went to the vault. You also have to remember that this is a payday ritual for me and they all know me and call me by my first name as soon as they see me.

As for branch size, I honestly don't know what is considered small or large in the banking world. The bank that I deal with is what I'd call a regional bank - they have headquarters in another state and have branches in about 5 or 6 different ones.

My wife was a bank teller so I asked her. She says it could have been that the teller just didn't want to be bothered getting more bills from the vault as there is a bunch of paperwork involved. Or it could be that they were out. She said it would depend on the individual branch to determine just how much money they'd keep on hand (Small branch = small amount of money / large branch = large amount of money)
 
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