One of the more interesting aspects of The Current Situation(tm) is that I’m having to consider things, and think through scenarios, that were heretofore not considered.
For example, a few posts back i mentioned that I decided to pull out some cash to line the gun safe with…’just in case’. Just in case of what? Well, banks runs or outright closures mostly. I was half-right…every bank in this town closed their lobbies and now it’s strictly drive-up banking.
I went to my local ATM today and when I went to select the amount to withdraw I noticed that they had upped the amounts available to $700. Hmm.
Explore this with me: As a ‘convenience’ to customers, the bank increases the amount you can withdraw to $700. Assuming that they figure people will take advantage of that, that’ll empty out an ATM faster than when the limit was the usual $350-400, right? So, and I’m guessing here because I’m not 100% of how ATM cash magazines work, the ATM’s must be packing more cash than usual in them, right? Or, at least being refilled more often than usual. Seems logical, right?
So then we see articles like this one stating that there is anticipation by some businesses that some civil disturbances may be on the way. Is it hard to imagine that the big national bank will, ‘for safety’, close down ATM’s or limit their availability (say, shutting down outdoor ATMs and leaving only ones in occupied buildings up) to preclude people robbing these flusher-than-usual ATM’s? Wells Fargo, for example, might shut down their ATM’s in the lonely drive up lanes outside their buildings to keep someone with a tow chain and a hemi from stealing it, but leave the ones in the lobby of WalMart open. That sort of thing.
Come to think of it, as people realize that you can withdraw twice as much money as usual from your ATM, I suspect robberies of ATM users will increase.
I’m sure my thoughts on this are unique and nothing is going to change in regards to ATM accessibility….but I’ve been wrong before.
Commander, just wanted to tell you I was heading out on a long trip. My luggage is all packed. I am leaving to go to the back yard. I hope I can find my way back home. Leaving through Back Porch International. Wish me luck.
It has been rather quiet around my neighborhood since the Pandemic. This morning I was awakened by a terrible racket. My neighbor in the next block was using an electric blower to blow off his driveway. I had to tell him to stop all the racket and shut the hell up!😳
I mowed my lawn around 2 in the afternoon. On a weekday. And it wasn’t a holiday.
That caused me to stop and smile for a minute.
ATM at my CU have limits how much based on account settings. I’m still hitting it every 25 hours or so.
Still kind of normal here in the Wilamette valley. The only oddness is the abundance of folks wearing masks, a lot of businesss closed, and the cheap(er) gas. Down to $2.49.
$1.95 here.
And down around $1.60 in south Texas, with a few going for $1.49. For the cheap stuff of course. Which reminds me – maybe a bit of that non ethanol gasoline in a few tanks for the chain saw for long term might be worth it right about now.
Good thought about ATM, a crowd of panic striken could wipe it out pretty quickly. So many are used to strictly plastic cards doing their duty.
Our city became the 1st in our locale to mandate masks out in public beyond property lines and personal vehicles – this begins Monday.
Working today because wifely unit has a medical appointment this Thursday. So making up time for down time then. Working from home, work is just setting down and concentrating – easy peasy.
Just paid 1.32 today at Costco in North Texas
$1.67 in Jacksonville, FO
$1.40 in Eau Claire, WI
Last week $1.75 at KwikTrip in Madison, WI at the same time it was $1.50 at Costco in Sun Prairie, WI. Yesterday Costco was $1.29, up from $1.19 a few days ago.
Here is my Best Guess. A run on banks started internationally. Then here. Suddenly, the Beer Virus got deadly and serious and the media flip-flopped from Just Wash Your Hands Bro, to Ebola Deadly, Shut Down The Economy. I’ve wondered if the retail shut down was JUST to close the bank lobbies, and the ten thousand dollar withdrawals. At the same time, ATM amounts are doubled or tripled. They were calming the bank run with the bait and switch. Now the banks have 10x as long to get cash printed and distributed. For the banks to screw with the ATM’s, they might restart the panic. I’m not sure what anyone could do about it, of course.
“10x as long to get cash printed and distributed”
Banks print money?
Some of the ATMs at bank locations will have north of 100,000 when full. As far as the tow chain they have been doing that prior to all this. I’m sure you have seen the videos of them go in gas stations and hook up chains to the ATM and drag it out, while the clerk stands there watching.
Most stand alone bank ATMs also have GPS tracking that is activated once the ATM is moved. Law Enforcement officers register and receive text messaging that contains real time tracks.
Last week I had discussed a situation with a Friend in Ontario Canada, I mentioned that with all the Pandemic shenanigans going on, that I was being extra aware of my surroundings coming out of stores and going into parking lots or to my truck on the street. I was expecting a rise in “muggings” especially around grocery stores. And sure enough, in Ontario a woman in her late 50’s early 60’s was attacked and her groceries taken. I hadn’t thought about ATM’s as the ones I normally use are in doors and I always keep an eye on the entrance ways. So for your readers who are in their sixties like me, be vigilant and live in the Col.’s condition two. TTFN Phil
Here’s a vid of an ATM cash jacking. Pretty brutal and is why I always scan, scan, scan when I’m at the ATM.
Warning: Inappropriate content (this guy is a one man crime wave on yt)
https://www.youtube.com/watch?v=9LfDTA7YazI
As a former bank employee who was the Vault teller at a branch, a ATM teller at a branch, and a Vault teller at a Vault (counted $100,000 to $10,000,000 a day.)
I can say that the ATM that is connected to the building has about $20,000 stocked at all times. The ATM in the drive through not connected to the building has about $100,000 and is stocked one day a week.
ATM robberies have been happening since day one. My wife and I were discussing the masks that people should be wearing out and about, I said robberies will go up at ATM and stores.
People will start taking from stores cause their faces are covered.
Happened first saturday of lockdown,with lines to end of store isles(checkout was extremely slow with ebt system failures),at least a dozen “customers” just walked out with full carts without paying. I learned of this as had to let out by security as the doors were locked.
Wells-Fargo goes by bank account limits.
I raised it once when I went to FLA to pay the rest on a truck I bought and never changed it back.
I went to the bank when I was going to buy a welder to up my ATM limit to $1K and she said my limit was $3k…..
Maybe there’s more money in the ATM’s or maybe the ATM’s are getting restocked more often.
I tend not to use ATMs any more.
Instead, get cash back when buying things at the grocery store or other retail establishments.
Every Saturday or Sunday, during regular shopping, $60 each and every time.
Makes for a decent stash in short order.
The Real Kurt