Anyone having problems taking cash out of banks?

Suhrreal

Recruiting Coordinator
Jun 1, 2009
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Just curious. Also curious if you are having any other issues with banks lately...
 

Suhrreal

Recruiting Coordinator
Jun 1, 2009
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My wife works at a bank. She hasn't said anything about weird stuff with cash availability or anything.

Not necessarily availability but taking large amounts out. Or having to schedule appointments to do so.
 

schuele

Athletic Director
Apr 17, 2005
15,118
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Not necessarily availability but taking large amounts out. Or having to schedule appointments to do so.
Banks keep cash on hand based on anticipated transactions. Given that most people now go to the bank about as often as they go to the Post Office and only slightly more often than they go to Blockbuster Video, banks are likely keeping less on hand than they did 15-20 years ago.
 

huskerfan66

Head Coach
Dec 8, 2004
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Not at all. Only issue is with coin
Really? I went to my local bank and cashed a few small checks that totalled $240. Teller asked how I wanted it....big bills or small? I jokingly said coins. Without a pause she asked me if I wanted them all in quarters or other. I told her I was just kidding and asked if they've had any issues. None at all in any of their branches in Nebraska
 

schuele

Athletic Director
Apr 17, 2005
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Really? I went to my local bank and cashed a few small checks that totalled $240. Teller asked how I wanted it....big bills or small? I jokingly said coins. Without a pause she asked me if I wanted them all in quarters or other. I told her I was just kidding and asked if they've had any issues. None at all in any of their branches in Nebraska
Coins are scarce because the mints have been down and people are putting way less cash back out into circulation. Our grocery store recently stopped giving coins in change. I think they'll give you a credit slip if you request it.

When the mints do fire back up, this would be a good time to finally retire the penny.
 

Bugeater

Offensive Coordinator
May 29, 2001
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Surprise, AZ via North Platte
Banks keep cash on hand based on anticipated transactions. Given that most people now go to the bank about as often as they go to the Post Office and only slightly more often than they go to Blockbuster Video, banks are likely keeping less on hand than they did 15-20 years ago.
Man, Blockbuster Video, haven't heard that name in awhile.
 
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drubendall

Senior
Apr 18, 2004
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This is silly to me. Do 2 weeks of PSAs. People, convert some coins to paper. And yes, demonituze the penny, the same way we did the half cent. Its time.if it costs more than a penny to make a penny....just sayin
 
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Crazyhole

Senior
Jun 4, 2004
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This is silly to me. Do 2 weeks of PSAs. People, convert some coins to paper. And yes, demonituze the penny, the same way we did the half cent. Its time.if it costs more than a penny to make a penny....just sayin
So do we round up or down on sales tax?
 

Crazyhole

Senior
Jun 4, 2004
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Not necessarily availability but taking large amounts out. Or having to schedule appointments to do so.

It's because the FED dropped the reserve requirement to zero back in March. Banks no longer have to keep as much cash on hand as they used to. Its pretty reckless, quite honestly, because that's what keeps us from having a run on the banks.
 
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saluno22

Defensive Coordinator
Mar 1, 2006
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Man, Blockbuster Video, haven't heard that name in awhile.
Reminds me of the Blockbuster Bowl played for a few years at Joe Robbie Stadium before the Orange Bowl Classic. They actually had some really good matchups:

December 28, 1990 (74,021): #6 Florida State 24, #7 Penn State 17 (both independent)
December 28, 1991 (46,123): #8 Alabama 30, #15 Colorado 25
January 1, 1993 (45,554): #13 Stanford 24, #21 Penn State 3 (PSU last season as independent)

After that first year, attendance really fell off. The 1990 game had the shine of a newer stadium (opened in 1987) and a "local" team in the Top 10 (Florida State).

Kind of like Blockbuster, it feels like a time gone by when you could get these great random bowl matchups. Around this time was when the bowl mega-deals occurred with conferences, as well as the end of the power independent programs to cash in on the guaranteed TV and bowl money and establish steady income streams.

I see it's now called the "Cheez-It Bowl" and moved to Orlando at the turn of the century, which feels like it should be in a desert, not subtropical Miami.

If I had the time, I'd want to look up all of the bowl sponsors who no longer exist.

EDIT...
There were 25 "Independent" programs in 1990, notably...
Boston College: 1991 Big East
Cincinnati: 1996 C-USA
Florida State: 1992 ACC
Louisville: 1996 C-USA
Miami: 1991 Big East
Notre Dame: Remains Independent
Penn State: 1993 Big Ten
Pittsburgh: 1991 Big East
Rutgers: 1991 Big East
Syracuse: 1991 Big East
Temple: 1991 Big East
Virginia Tech: 1991 Big East
West Virginia: 1991 Big East

The 1991 Big East conference was entirely comprised of eight teams who were independent programs in 1990, and only two went to bowl games (Miami and Syracuse; Pitt, Rutgers, and West Virginia were 6-5). An official Big East football champion was not crowned until 1993.

(Side note, check out the 1991 Big East football standings. Not really a "conference" when Miami and Virginia Tech only played two and one conference games, respectively.)

There are now just 7 independent football programs.
Army
BYU
Liberty
New Mexico State
Notre Dame
UConn
UMass
 
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Dean Pope

Offensive Coordinator
Oct 11, 2001
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Reminds me, I’ve seen tons of recent burglaries with no mask. Seriously, this is the one time you could literally walk right up to where you are burglarizing, and you show your face.
I saw a recent video of a guy who came in to an Ace Hardware in Lincoln. Grabbed some chain saws and walked out. He wore no mask and no hat. Amazing.
 

B1G RED RULES

Senior
Sep 7, 2013
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Just curious. Also curious if you are having any other issues with banks lately...
I believe if you pull a certain $ amount out - $10,000 or more - the bank has to report that transaction to the government. They are required to report what you are using it for. This was started as part of the Patriot Act.
 

Husker4real

Senior
Nov 25, 2017
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All you guys had to do was say “Why, yes - my bank told me they were running low on cash and hoped no one needed much today” and we could have started a perfect conspiracy theorist sh1t storm.

I expect more from this board....
 
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HuskersNC

Junior
May 23, 2010
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Omaha, NE
My debit card didn't work at Target the other day, I definitely had more than $45 in my bank account (oOoOh call me señor moneybags, yes o_O), I blame the Illuminati.
 
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B1G RED RULES

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Another thing to keep in mind for money in banks is that the Dodd Frank bill from the 2008 housing crisis put in a “bail in” provision, where the cash the have on deposit is considered their asset and if they run into financial issues, can use those funds to help bail themselves out.
 
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Crazyhole

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Another thing to keep in mind for money in banks is that the Dodd Frank bill from the 2008 housing crisis put in a “bail in” provision, where the cash the have on deposit is considered their asset and if they run into financial issues, can use those funds to help bail themselves out.

I'm glad somebody else knows about this.

When you deposit money into your bank account, you are essentially a 2nd lien holder against that money. The bank itself comes first. We haven't seen this come into play in any meaningful way at this point, but if there was a run on the banks it could.
 

Suhrreal

Recruiting Coordinator
Jun 1, 2009
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It's because the FED dropped the reserve requirement to zero back in March. Banks no longer have to keep as much cash on hand as they used to. Its pretty reckless, quite honestly, because that's what keeps us from having a run on the banks.

I think this is the more relevant piece of info. Fractional reserve banking allowed the banks to use your deposits to make investments. Why did they drop this important fractional rule to zero? Well, I have noticed quite a few "FOR RENT" and "FOR LEASE" signs in many commercial property areas out here in California. Just drove through a very nice part of Rancho Cucamonga last night and noticed it there along with Pier 1 Imports going out of business. Seems like a lot of these big retailers are donezo. I wonder who holds the most commercial real estate property and is counting on that revenue.
 
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Suhrreal

Recruiting Coordinator
Jun 1, 2009
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A local bank owner acquaintance of mine lobbied long and hard against Dodd Frank because of what it was going to do. It's a terrible piece of legislation. I fear for our financial institutions and what the stupidity surrounding this pandemic might do. Buy ammo.

Add: The only time I've ever had a problem taking cash out was when I wanted to draw 30K from my line of credit right before Y2K....just in case. It took them a couple of hours to run down some cash from their other bank.

I would not want to be holding commercial real estate paper in any of the large blue state cities that are suffering from edicts and protests. They're in big trouble. That said, buy whatever real estate you can in growing towns in South Dakota and maybe even Nebraska. There's going to be a flight to lower tax/safer areas. Seattle's migration rate right now is over 10:1 outward. New York City has had a similar rate of outbound migration. I'm sure depending on the election results we'll be throwing billions of dollars at cities whose governors and mayors are responsible for things going down the crapper.

Real estate with good soil and well water I would say.
 

Crazyhole

Senior
Jun 4, 2004
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I think this is the more relevant piece of info. Fractional reserve banking allowed the banks to use your deposits to make investments. Why did they drop this important fractional rule to zero? Well, I have noticed quite a few "FOR RENT" and "FOR LEASE" signs in many commercial property areas out here in California. Just drove through a very nice part of Rancho Cucamonga last night and noticed it there along with Pier 1 Imports going out of business. Seems like a lot of these big retailers are donezo. I wonder who holds the most commercial real estate property and is counting on that revenue.

They did it to prop up the derivative market. A bank can't say that a 1000 dollar deposit is worth anything more than 1000 dollars, but they can adjust their balance sheet to show that a 1000 dollar investment into something like real estate is worth 2000 dollars. Its the same reason that the FED did another huge TARP like program last september by basically making overnight lending unlimited. We are nearing the collapse of this house of cards and its no surprise that FDIC started talking about raising deposit protection a few months ago.
 

huskerfan66

Head Coach
Dec 8, 2004
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I believe if you pull a certain $ amount out - $10,000 or more - the bank has to report that transaction to the government. They are required to report what you are using it for. This was started as part of the Patriot Act.
And deposit
 

Crazyhole

Senior
Jun 4, 2004
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I believe if you pull a certain $ amount out - $10,000 or more - the bank has to report that transaction to the government. They are required to report what you are using it for. This was started as part of the Patriot Act.

They have to report any transactions that seem questionable regardless of amount, but yes they have to report ones over 10,000 every single time.
 

Cornicator

Nebraska Legend
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Feb 27, 2009
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Sounds like something a cop would say.

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