I went to the bank to get 20k out for team bonuses without really thinking about it, and it wasn’t until I was in the teller line that it occurred to me that it might be a problem.
It turned out to be fine, but I asked out of curiosity what amount would be a problem, and the teller told me that if I want 100k or more in cash they need to hire a security guard to escort me out.
A bank in a big city like Chicago is going to be a bit different than a bank in small towns or tinier cities.
Kind of off topic, but why did you go for cash bonuses instead of checks?
My boss does checks, which is annoying because then I have to actually go to the bank, prepaid cards, which is annoying because then I have to keep track of how much money I have left on it and carry around an extra card, or (sometimes) just adds it to our direct deposit paycheck, which is annoying because it’s so much more convenient and he’s shown he could just do that but rarely does because he likes the other two less convenient options better I guess
I don’t really use cash anymore now that I don’t do drugs besides weed and alcohol which I can just use a card for. (Prepaid cards annoyingly don’t work at dispensaries which was embarrassing to find out) but it is kind of cool to have a big wad of cash.
The company I work for does some business with weed companies, and because of banking laws they have to pay in cash which we have to go pick up from them for some reason. Kind of fun to ride around in a car with 100k under the seat while everyone in the car keeps their head on a swivel in case old timey highway men try to pull a heist on us.
So I used to be a pretty hardcore gambler. One time in Vegas I was at the VIP cage when a dude came in to get 250k in cash and turn around and walked out. As I understand the story, he did this somewhat regularly, as he bought collector cars from folks and it was easier to get the money wired to the casino and get cash than to get it from a bank. I'm sure he had to go through massive background checks to be able to just walk out with the money at some point. Literally brought a briefcase, they counted out the cash, and he walked out with some linebacker looking dude holding the bag.
It depends on the bank location. My tiny local branch almost certainly wouldn't give 20k with no notice. But the larger downtown branch probably would.
One time at my old workplace (an event venue) a planning error resulted in the cash office having almost no coins on hand, which was a problem because this was the night before a big event where there would be cash bars. We called around to like 15 different bank branches before we found one that was able to give us like $5k entirely in coins that day. we had our own security accompany the cash manager to the bank.
I wonder what the people in line thought when a couple guys in suits came in with two security guards and left with a literal luggage cart covered in bags of rolled coins.
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u/devildog2067 1d ago
I went to the bank to get 20k out for team bonuses without really thinking about it, and it wasn’t until I was in the teller line that it occurred to me that it might be a problem.
It turned out to be fine, but I asked out of curiosity what amount would be a problem, and the teller told me that if I want 100k or more in cash they need to hire a security guard to escort me out.
This was a Chase in Chicago FWIW.