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by white_devil 5462 days ago
> Yes. I am sure. I have far, far, far less than 0.000001% of the total money in the bank. If they could not produce this much money when I wanted it, there would be other serious problems.

Last year, a branch office of a large bank in Finland was barely able to produce 10 000 euros in cash when I wanted to withdraw it.

The clerk just didn't realize he shouldn't mention it.

Don't be so sure.
1 comments
hobolobo 5461 days ago
Is that a case of the bank not having the money or just that branch not having the cash on hand?
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white_devil 5461 days ago
Each branch is supposed to function as a bank, right?
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burgerbrain 5460 days ago
Why in the world should a single branch be expected to hold that kind of cash for withdrawn without notice? There is a* huge* difference between "having the money" and "having the money in cash form on location".
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hobolobo 5460 days ago
They're not autonomous though - individual branches don't hold the value of all their customers' accounts as cash. You're subject to a daily limit (though you can take more if you give them notice).
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white_devil 5459 days ago
Now we're just being pedantic. My point was that each branch should have enough cash to act as a "proper bank", whatever amount of money you'd reasonably expect one to have in its vault.

But I'd sure expect more than 10k euro.

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burgerbrain 5459 days ago
If they barely had 10k in their vault, then it logically follows that they almost never need that much (otherwise they would obviously make it a point to keep more). If they rarely need that much, then it logically follows that somewhere at or less than 10k is a reasonable amount to have. There is no sense in taking the increased liability of having more if they don't need to.

Furthermore, acting as a "proper bank" means they do a lot more than just acting as your personal piggy-bank/mattress. If they have all their money tied up in cash, it means they can't actually be preforming real bank activities (investment).

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white_devil 5459 days ago
Fair enough. But basically me and a couple of other people on this thread wanted to point out that the banking system is not very sound.

I just chimed in with my anecdote.

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