Should we be pulling our cash?

[Anonymous]

My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

[Anonymous]

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

No please don't cause a bank run.

[Anonymous]

No.

[Anonymous]

No.

Don't.

Bad idea.

[Anonymous]

Your friend sounds like she has a mental illness.

[Anonymous]

If we reach the point where cash in the bank isn’t safe, the paper money is going to be worthless as well. Maybe they’re planning to buy gold bars? I’m not sure what the endgame is.

[Anonymous]

I mean it doesn't hurt to have some cash on hand. You could probably use some, $500 maybe? At least to avoid $2 cc fees

We probably have about $1000 in the house, but we aren't pulling all our money out.

[Anonymous]

Thank you for reassuring me!

[Anonymous]

This is how the felon is going to tank the market.

[Anonymous]

I'm going to get 1K in cash within the next day or two. I think it's good to have that amount on hand.

[Anonymous]

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

What? Why? You don't believe in the FDIC? In an inflationary environment, you should have your money in the market and not hoard cash anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

What? Why? You don't believe in the FDIC? In an inflationary environment, you should have your money in the market and not hoard cash anyway.

For now. Trump says he’s coming after FDIC too. Hopefully he’ll get distracted and forget.

[Anonymous]

You should always have some cash in the house to meet food/gas/emergency needs for a week (due to power outtage that affects systems). For us this is no more than $1000.

We are not running the banks.

[Anonymous]

Anonymous wrote:You should always have some cash in the house to meet food/gas/emergency needs for a week (due to power outtage that affects systems). For us this is no more than $1000.

We are not running the banks.

This. Have a variety of bills so you can purchase what you need and make change. This is basic emergency advice.

[Anonymous]

Op-where are you located?