Banks too broke for cash, going cashless

Banks Refusing All Cash Withdrawals & Closing Accounts
Seems they have a problem with withdrawals of $3,000 or more when it used to be $10,000 or more 5 years ago. It's not your money anymore, it's been hijacked by the bank.


Cash Withdrawals And Deposits BANNED By May 20th
Super large Australian bank is going cashless in a week. They won't accept checks, money orders, cashiers checks, or cash. The ATM will be open for small cash withdrawals.

Quote: ChumpChange

Banks Refusing All Cash Withdrawals & Closing Accounts
Seems they have a problem with withdrawals of $3,000 or more when it used to be $10,000 or more 5 years ago. It's not your money anymore, it's been hijacked by the bank.

Cash Withdrawals And Deposits BANNED By May 20th
Super large Australian bank is going cashless in a week. They won't accept checks, money orders, cashiers checks, or cash. The ATM will be open for small cash withdrawals. If you want to be on the safe side, read the Learn how to accept bitcoin payments article, which describes the above in detail.

link to original post

It's concerning to hear about banks tightening their cash withdrawal policies, especially when it comes to significant amounts like $3,000. It does seem like there's a trend towards more stringent controls compared to years ago when the threshold was higher.

For many, this raises questions about financial autonomy and the trustworthiness of traditional banking institutions. It's a reminder of the importance of diversifying one's financial strategies and exploring alternative options, including decentralized forms of currency like cryptocurrencies.

If you're interested in exploring alternatives to traditional banking, you might find it worthwhile to look into the growing ecosystem of decentralized finance (DeFi) and explore options that offer more control over your assets and transactions.

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.

Quote: TigerWu

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.
link to original post

I agree. Trash video

Quote: Slotenthusiast

Quote: TigerWu

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.
link to original post

I agree. Trash video
link to original post

I reported here a few months ago that my bank said they were out of $100 bills and they're getting harder and harder to get. I had to take all 50s which is a pain.

Quote: EvenBob

Quote: Slotenthusiast

Quote: TigerWu

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.
link to original post

I agree. Trash video
link to original post

I reported here a few months ago that my bank said they were out of $100 bills and they're getting harder and harder to get. I had to take all 50s which is a pain.
link to original post

Vegas Matt probably withdrew them all for his latest video

FDIC says banks are over $500 billion with the unrealized losses. Anybody got a TARP?
******************************************
Banks are declining cashiers checks in the US, or delaying cashing them for 3 days or more.
Banks DENYING Funds | WARNING


******************************************
Banks might be closing too fast for any bank to take another bank's credit for granted and they have to wait for the check to clear. (And where is the FedNow check clearing process that was supposed to be instantaneous?)
Here in San Francisco, just about all of the downtown banks are gone along with over 90% of the businesses.
San Francisco BANNED CARS (on Market Street) - Typical walkthrough of deserted areas of cities in the COVID era.

US banks surge in profits


https://www.youtube.com/watch?v=_Ab5Phcm-Ak

Quote: EvenBob

Quote: Slotenthusiast

Quote: TigerWu

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.
link to original post

I agree. Trash video
link to original post

I reported here a few months ago that my bank said they were out of $100 bills and they're getting harder and harder to get. I had to take all 50s which is a pain.
link to original post

I recently went on vacation and withdrew $2500 in $50's. It wasn't a problem for me other than the bulk in my wallet.

Quote: DRich

Quote: EvenBob

Quote: Slotenthusiast

Quote: TigerWu

Why is this titled "banks too broke for cash?" It's fearmongering BS and has nothing to do with why some banks are going cashless.
link to original post

I agree. Trash video
link to original post

I reported here a few months ago that my bank said they were out of $100 bills and they're getting harder and harder to get. I had to take all 50s which is a pain.
link to original post

I recently went on vacation and withdrew $2500 in $50's. It wasn't a problem for me other than the bulk in my wallet.
link to original post

That's the problem they take up twice as much room as $100 bills do. That's why they stopped making the $1,000 bill, they took up very little space and you could illegally transport a bunch of them at once

If cash hangs around for too much longer, they're going to have to look at printing $500 or $1000 bills again. I think we need at least a $500 now.

This year, I did 10 years of accounting and summaries, I found bank entry errors and what seems like bank employee involved embezzlement. Most of the fraudulent checks are missed that were obviously forged, about 2k between two checks a year. Benefactor changes each year. In one case, a fraud check was caught within a week with the benefactor's info, an out of town bar. The bank refused to do anything. Lowest rank employees, the tellers, have access to account info without requesting authorization. The accounts I believe are most affected are mid size commercial accounts.

Quote: TigerWu

If cash hangs around for too much longer, they're going to have to look at printing $500 or $1000 bills again. I think we need at least a $500 now.
link to original post

I think by not printing larger bills they know that it is more likely people will eventually quit using cash. Cash is very expensive in both minting and processing.

Quote: jjjoooggg

This year, I did 10 years of accounting and summaries, I found bank entry errors and what seems like bank employee involved embezzlement. Most of the fraudulent checks are missed that were obviously forged, about 2k between two checks a year. Benefactor changes each year. In one case, a fraud check was caught within a week with the benefactor's info, an out of town bar. The bank refused to do anything. Lowest rank employees, the tellers, have access to account info without requesting authorization. The accounts I believe are most affected are mid size commercial accounts.
link to original post

I checked the month in question for high cash deposit. The month in question, the total deposits is less or equal to sales report on that month. The bank analyst included deposits that were not revenue or cash in the total cash deposits. That month the bank forced us to close and open a new acct due to criminals forging fraudulent checks using acct info. The forged checks were $200 each. That month, the closed acct had a withdrawal of total balance. The new acct had a balance transfer deposit. That month, the analyst totalled deposits for both accts. Fast forward, 2 weeks ago, the VP of the bank questioned mom if anyone deposited for us. So I called the VP back and explained that the deposit slip is in the tellers handwriting because it's a balance transfer deposit. The slip describes the source. I don't think the analyst looked at any slips. Just the deposit total on top of the first page of both accts that month. The VP believed me and thanked me for the update. I should have got an apology. I've wondered whether the bank could be so sloppy. Mom said that a vocal young man was at the first meeting. So I'm considering they really believed in their analysis. I spent 20 hours adding 4 years of cash/credit card deposits on a spreadsheet. The total revenue deposits is slightly less than the sales report.

New York Stock Exchange investigating "technical issue" after some stocks show drops up to 99%



13 minutes later, CNN says all issues have been resolved. Dow was down 400 points, now down 333 points.

Quote: ChumpChange

New York Stock Exchange investigating "technical issue" after some stocks show drops up to 99%



13 minutes later, CNN says all issues have been resolved. Dow was down 400 points, now down 333 points.
link to original post

I might be inclined to buy some Berkshire at $185.

Yotta Yotta Yotta....l
Never heard of it.
Here's a video explaining how Yotta Cash works as some kind of gambling chip in a phone app game. Looks like a rip-off when you learn Yotta Cash is only redeemable for USD in certain circumstances, like after playing a game with a very low RTP.


Flash forward 3 months and Yotta & Evolve have frozen accounts related to the failure of Synapse. This is breaking news so the devastation is likely under reported. They say 85,000 accounts are frozen, but 10 million accounts were mentioned in the video. This is outside the jurisdiction of the FDIC, so nothing happening there. This video gives a very good explanation of what is going on that just can't be found anywhere else on no notice.


Not getting your Yotta Rewards is an imminent threat of insolvency. Close your account immediately (May 19th).:


The Yotta Banking App of a couple days ago released a huge news update. I have personally decided to withdrawal all my money from the app. Are you planning on doing the same thing?

The statement from Yotta said:
"Effective immediately, Yotta unfortunately has to discontinue paying rewards on savings balances, paychecks, and card spend.
The rest of the Yotta app, including your YottaCash as well as all of our games, the nightly YottaBall drawing and prizes will continue to run as normal.
Why is Yotta making these changes?
This was not an easy decision to make. However, our primary vendor, Synapse Brokerage LLC, is no longer paying us the revenues we are owed on our deposits and cards.
Unfortunately, this means that we have no choice and can no longer offer rewards for these banking-related services.
What does this mean for me?
Effective immediately we will no longer award YottaCash APY on deposit balances and no longer offer Boxes.
Do I need to do anything?
We understand that this is not the experience you signed up for. If you would like to withdraw your funds now, you can do so via the Yotta app."