There are a lot of stories that would disagree.
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I've seen sign that say no boob or sock money accepted.
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In general, why carry huge amounts of money with you when you have credit cards? No one will steal a credit card, of course, if you keep it in a safe pocket.
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Some of us don't like to support the banks. Some of us also like to keep our privacy when making purchases. There's some other reasons stated in this thread.
https://www.homesteadingforum.org/threads/cashless-society.6939/
As some have learned up north,
, it takes the thieves in power around 30 sec to steal your credit card and everything else that goes with it.
Exactly. Stories/rumors/heresay
In the summer I carry $00.02 (two cents). but that is because I need a penny or a dime to adjust the scopes on firearms.
Lawsuits.
I used to know a carpenter from Oklahoma who didn't have a bank account. One year, he took his family on vacation to Dallas carrying cash to be able to cover everything. One night in Dallas, the cashier at the restaurant they ate at that night saw that he had plenty of cash and called the police. The police showed up and took his car apart looking for drugs while he, his wife, and his kids sat on the sidewalk watching them do it. After they gave up looking, they left and he had to get everything put back together on his own.
Thats what we've been doing. Buying land, digging wells and food processing equipment.
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I thought I revive this thread since it seems prudent these days. Here's a good video from Economic Ninja. I haven't tried lately to pull a huge amount out of the bank so I don't know if a cash shortage is nationally widespread or not. I think there might be an internet disruption in the near future. It just seems like that is the next step in the silent war going on.....or heck, maybe it will be aliens. Who knows? It's still a good idea to have some green in your possession.
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It happens to me frequently (not enough cash at the bank). Especially true for small branches. They just ask that I call a day or two ahead and let them know how much I need.
Last time I went to make a substantial withdraw, they could only give me $1,000. They said they needed to keep some cash for other customers.
Last time I went to make a substantial withdraw, they could only give me $1,000. They said they needed to keep some cash for other customers.
Two very good points: nobody believes it can happen to them until it happens to them; keep cash is small bills. NOBODY is going to give you change. We do keep 20's, 50's, and 100's, but we have ones and fives as well. Keep a good mix.
I have not had trouble getting cash from my bank, but I seldom get more than $100.00 at a time. Next time I go in I will ask what the threshold is. How much can I withdraw without it being a problem?
A couple times this year I have taken out 3000 and 4000 bucks. Didnt have an issue either time. FWIW I bank at a credit union.
When I get cash out of one bank they always want to know what I want it for. They make it easy as they usually make a guess, and they are always right. It is easier to play their game. In the last quarter of the year it is Christmas shopping, otherwise it is travel.
Mostly $20's, some $50's, quite awhile ago I got a stash of $1's, $5's, and $10's.
Mostly $20's, some $50's, quite awhile ago I got a stash of $1's, $5's, and $10's.
I sold my tractor and the guys bank ask him what the cash was for.
He said "I'm buying a parrot".
She said you're buying a $9500 parrot. He said yes and smiled at her.
My bank has never asked but the won't do large withdrawals at the drive through.
You have to go in and show your ID.
He said "I'm buying a parrot".
She said you're buying a $9500 parrot. He said yes and smiled at her.
My bank has never asked but the won't do large withdrawals at the drive through.
You have to go in and show your ID.
Only time I go inside is if the drive thru is broke down, or if I'm turning in change. Never questioned anything
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My wife's nurse was going on a BIG Trip and decided to pull out a bunch of cash, ~$13,000. They called the bank in advance to make arrangements to get the cash. On the day of the transaction the nurse and her sister went to the bank and got the cash no problem.... The walked back to their car where they were promptly robbed at knife point, the crooks took their cash, sliced their tires, and got away... To me it sounded like someone inside the bank knew about the upcoming transaction and had their posse waiting for their signal..... FYI, The nurses were black and the crooks were not.... They were not in a carry state either....
I wonder if there is an established or consciences maximum amount of cash to have at home.
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If my bank or CU ever asked what I wanted the money for, I'd say "b/c it's mine and I want it". End of story. When it was deposited, they never cared where it came from.
Remember the Covid 'coin shortage'? We keep a change jar by the front counter where everything goes when hubby walks through the door. We have many jars of change, mostly b/c I don't bother to take it in. When some places were demanding exact change, it wasn't a problem for us. We still have lots of change and also a good amount of smaller bills. Although with the inflation we are seeing, 5's and 10's are now smaller bills.
Remember the Covid 'coin shortage'? We keep a change jar by the front counter where everything goes when hubby walks through the door. We have many jars of change, mostly b/c I don't bother to take it in. When some places were demanding exact change, it wasn't a problem for us. We still have lots of change and also a good amount of smaller bills. Although with the inflation we are seeing, 5's and 10's are now smaller bills.
Interesting subject. Back before I was hurt and was a big wig who actually had cash available, I carried 2 - $100.00 bills in my wallet at all times now I carry a assortment of spider webs and a dust bunny
Well, yeah, because spider webs and dust bunnies are worth more than dollars. You're ahead of the curve.
Civil asset forfeiture is a real problem that has never been addressed. If you're walking around with what someone arbitrarily decides is an unreasonably-large amount of cash, they can take it from you on suspicion you planned to use it for illegal activities. No criminal charge, no proof of wrongdoing. And no money.
They may not have cared but if the amount was over $10,000 they are required to report it to the Feds.
If you make a bunch of deposits just under the limit they will also report those transactions to the Feds.
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I don't worry much about asset forfeiture. I REALLY don't like that vague law, but I'm not the 'droid they're looking for'. There's nothing about me or my vehicle that a cop would (or should) think I have things there they need to investigate. They won't find any illegal contraband or any reason to search my car. I don't typically travel around with 10's of thousands in cash anyways, but if I needed to, I wouldn't worry about asset forfiture. A little common sense, like not doing anything illegal and not leaving it in the back seat sticking out of a backpack, should keep things all good.Civil asset forfeiture is a real problem that has never been addressed. If you're walking around with what someone arbitrarily decides is an unreasonably-large amount of cash, they can take it from you on suspicion you planned to use it for illegal activities. No criminal charge, no proof of wrongdoing. And no money.
We did have a discussion about asset forfeiture somewhere on the forum......just can't find it now
I was actually referring to amounts smaller than the mandated reporting threshold, but even so, they'd still take it. My point was that it's much easier to put money in a bank than it is to get it out. That is the reason I have accounts at several differnt institutions but also have a reserve stashed in a safe spot. It's also why I cash my checks when I get therm. Why leave it in a bank that pays no interest, especially when they might screw you over? I leave enough in the accounts to pay my bills via check and maybe some extra for opportunites that may arise that you can't always use cash for.
I keep a few hundred hidden for emergencies, but rarely have anything over 50 on me. (pick pocketed Queens years ago, lol) It seems cash is being phased out, especially since covid. Our bank cards allow you to 'tap' instead of using cash. It comes directly from your account. Where I live theres hardly any bank ATM's, and they are normally out of money. The banks also closed a lot of their branches in small towns.
I confess I never carry cash these days but it’s a habit I’m hoping to change. It is easier to keep track of spending cash and also it’s frustrating not to have it on hand if needed.
Until recently, it simply wasn’t something I gave much thought too, as online banking is so easy to use with phones etc.
Until recently, it simply wasn’t something I gave much thought too, as online banking is so easy to use with phones etc.
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Carrying large amounts of cash to a different country is just asking for trouble b/c there are customs laws that apply. Still, we take about $2,000 (legally) with us when we go someplace warm for a week or two. We divide it up and place it in different locations within our luggage and on our person. I use a credit card as little as possible when out of town. I don't want to pay for my vacation when I get back. I prefer to pay as I go or pay it beforehand.
However, this thread isn't really about taking cash across the borders. It's about how much cash do you carry on a routine basis.
However, this thread isn't really about taking cash across the borders. It's about how much cash do you carry on a routine basis.
