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Cash withdrawal limits
| July 6th, 2016 at 7:42:32 AM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | Trivia question regarding USA. Do people withdraw more cash from ATM's or "over the counter" from bank tellers? Once you've picked one, take a WAG at ratio (twice as much, three times as much, 50% more, or almost equal).  The UK has cash withdrawal limits of roughly $800 at some banks. This limit applies to "over the counter" transactions as well as ATMs. You can book your withdrawal three days in advance if you want more. For large transactions they can refuse to give you the cash if you can't supply a good reason for your plans for the money. Supposedly this tactic is to prevent customers who are being defrauded. |
| July 6th, 2016 at 8:03:20 AM permalink | |
| Nareed Member since: Oct 24, 2012 Threads: 346 Posts: 12545 |
I've never run across limits in Mexico. Though if you want a large amount, you'd best arrange ahead or the bank won't have the actual cash on hand to handle it. You can also hire an armored delivery truck, with armed guard, to take the cash wherever you need it to go. Large amounts of cash are common for weekly payrolls, even though debit accounts to deposit payment have grown a lot. Also, and no one admits this, much of the "informal" economy runs on cash. Donald Trump is a one-term LOSER |
| July 6th, 2016 at 8:07:17 AM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 | In the UK they can refuse to let you withdraw your own money? I find that extraordinary! What business is it of anyone what someone does with their own money? In Australia if you want to withdraw more than a certain amount (different for each bank) you will need to give a days notice but this is just due to business constraints and is so the branch can order the cash in for you. |
| July 6th, 2016 at 8:22:27 AM permalink | |
| terapined Member since: Aug 6, 2014 Threads: 73 Posts: 11791 |
ATM 3X As a young adult always withdraw via teller car line older adult used ATM all the time Old guy , I carry some cash but now use Credit card all the time for everything so hardly ever withdraw Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World" |
| July 6th, 2016 at 8:26:25 AM permalink | |
| kenarman Member since: Oct 24, 2012 Threads: 14 Posts: 4515 | If it similer to around here ATM's by a 5 to 1 ratio. "but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin |
| July 6th, 2016 at 8:54:30 AM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
The following is quotes from an article about HSBC change in policy that went into effect on November 2013.
This whole Swedish concept of reducing the number of banknotes of value 500SEK ~ £45 ~ AUD$78 to 8x the population is interesting, but it is not dramatically smaller than the largest denomination of £50 and AUD$100. But without citizens being able to get money "over the counter" at banks, the banks could theoretically stock the ATMs with only 200SEK banknotes. It's still too early to tell what will happen because they have only distributed 200SEK banknotes ~ 2X the population. They will have to have a lot more 200SEK banknotes in circulation to have enough to stock the ATMs exclusively. There may be a backlash politically if they attempt to do that as well. Even docile Swedes may object. They could reduce the whole cash supply of Sweden to "pocket money". (In AmE we tend to say "allowance"). |
| July 6th, 2016 at 10:03:00 AM permalink | |
| miplet Member since: Oct 24, 2012 Threads: 8 Posts: 975 | I'm guessing over the counter = ATM * 10 "...remind me of clue: Colonel Mustard in the billiard room with the candlestick."- Derek Morgan |
| July 6th, 2016 at 10:49:25 AM permalink | |
| DRich Member since: Oct 24, 2012 Threads: 51 Posts: 4967 |
Wow, that would shock me unless they are including the banks transferring cash to other banks and federal reserve locations. I would guess ATM withdrawls are twice bank withdrawls. At my age a Life In Prison sentence is not much of a detrrent. |
| July 6th, 2016 at 11:02:55 AM permalink | |
| Ayecarumba Member since: Oct 24, 2012 Threads: 89 Posts: 1744 | Not counting business transactions, I would guess ATM at a 100:1 ratio. Some folks have only been in a bank once to set up an account, and have never dealt with a real teller since. |
| July 6th, 2016 at 12:06:01 PM permalink | |
| odiousgambit Member since: Oct 28, 2012 Threads: 154 Posts: 5106 | If you don't count cashed payroll checks and withdrawals that are made at the same time as these payroll checks are deposited, I would say ATM withdrawals are somewhere between 4 to 5 times as common. I'm Still Standing, Yeah, Yeah, Yeah [it's an old guy chant for me] |