Don't post much, you guys figure so much out I have nothing really to add, but in this case I have a boots on the ground report from an RBC in BC Canada.
Went in last week to pull my money, got half, they seemed nervous, it was strange. Decision had to go to like 3 managers. Finally gave me about half of what's in my account and said they have to "order" more money. Fast forward to today, went in to pick up my "order" of the other half, a woman was complaining LOUDLY to a teller( that's weird by itself considering I'm in a small town) about only being able to get 5000 when she wanted 17. Teller saying "I'm so sorry, there's been a bunch of people wanting cash". Then I got to the window, told them I was here to pick up my money and they asked if I was Chris? I'm not Chris.
Could be something to this bank run stuff, I'm sure they'd never tell anyone though.
I'm not even near Canada, I'm in California, and I went to withdraw a large amount of cash and the teller said he wasn't sure if they had enough cash on hand, because for some reason everyone is withdrawing money this week.
I can confirm that physical branches rarely hold too much cash. If there's a certain threshold hit per day, some has to be "sent" back to cash ops. Mainly to mitigate risk and to minimize hold up situations. I would say most small town branches never have much more than 200k on hand (excluding ATMs).
Don't post much, you guys figure so much out I have nothing really to add, but in this case I have a boots on the ground report from an RBC in BC Canada.
Went in last week to pull my money, got half, they seemed nervous, it was strange. Decision had to go to like 3 managers. Finally gave me about half of what's in my account and said they have to "order" more money. Fast forward to today, went in to pick up my "order" of the other half, a woman was complaining LOUDLY to a teller( that's weird by itself considering I'm in a small town) about only being able to get 5000 when she wanted 17. Teller saying "I'm so sorry, there's been a bunch of people wanting cash". Then I got to the window, told them I was here to pick up my money and they asked if I was Chris? I'm not Chris.
Could be something to this bank run stuff, I'm sure they'd never tell anyone though.
Nice post Chris... I mean...sorry kek
Absolutely has to do with the bank run. I've heard that they tend to only keep about 2% of people's cash on hand, so now they're panicking.
I'm not even near Canada, I'm in California, and I went to withdraw a large amount of cash and the teller said he wasn't sure if they had enough cash on hand, because for some reason everyone is withdrawing money this week.
I can confirm that physical branches rarely hold too much cash. If there's a certain threshold hit per day, some has to be "sent" back to cash ops. Mainly to mitigate risk and to minimize hold up situations. I would say most small town branches never have much more than 200k on hand (excluding ATMs).