It always feels weird making a large cash deposit at the bank. First of all, it’s nerve-wracking these days just to carry large amounts of cash with you. We’ve seen the news videos of people being robbed of their money whilst on their way to make a deposit. Granted, they’re typically small business owners, and the perps tailed them from their respective establishments. I on the other hand do not have a symbolic loudspeaker advertising how flushed with cash I am.
Seems like a proverbial rock and hard place for those business owners. Pay the 5% to credit card companies for the security of digital banking, or keep that profit margin and risk the (albeit small) chance of getting robbed on the way to the bank.
Anyways, once I get pass the nervousness of getting to the bank, then comes the awkwardness of working with the bank teller. Here is a large stack of 100 dollar bills, and no I am not drug dealer. (Honestly, what drug dealer actually uses establishment banks?) Another bout of nervousness comes when the teller feeds the bills through the counting machine. Sure hope there aren’t any fake bills in that stack!
After that comes the standard questions anytime a person is depositing over $10,000: am I currently employed, where, and what is my job title. By law, the bank have to report this information to the feds, though it’s more procedural than anything ominous. If you ever write a check larger than $10,000 to buy a car, the dealership also have to report that transaction. I’m told this is to catch money laundering. Obviously, you only have worry if your money comes from illicit activities…
As a person who almost never cary cash, I definitely rest easier knowing most of my money is deposited in banks (got to have some spare cash on hand for emergencies). It’s a sense of security, you know? That’s why I’m nervous anytime I have to make a deposit, fearing something can go wrong before that money is safely in an FDIC insured account.
Closed, pizza boy.