Originally posted by: xeemzor
Originally posted by: GagHalfrunt
Originally posted by: Drakkon
I'd really like to hear this situation where SHTF so bad that your CC wont work, ATM's wont work, and you cant wait a day to get to the bank
I mean are we like at the end of days or something here? cause if thats the case I'm just looting...
How about a lost wallet where CCs and ATM card disappear and need to be cancelled?
I keep $500 in cash at home and in my car I keep another $80 in cash and $20 in quarters. I've never needed the home money and likely never will, but it's nice to know it's there. The car money has come in handy several times where I've been weather-stranded, low on cash and nowhere near an ATM.
That's why you never keep ALL your CC/ATM cards in one wallet. I only keep the essential cards in my wallet at any given time. There is nothing wrong with keeping a few hundred bucks for emergency situations where you can't use a CC, but keeping thousands in cash stored under a mattress somewhere seems kinda silly.
Originally posted by: kranky
Originally posted by: Drakkon
I'd really like to hear this situation where SHTF so bad that your CC wont work, ATM's wont work, and you cant wait a day to get to the bank
I mean are we like at the end of days or something here? cause if thats the case I'm just looting...
Massive telecom system failure is all it would take. And even though banks would probably be open, would they fork over cash to people if the bank had no way to verify the customer had money in the account? Not that such a thing would last for weeks, but I prefer to have some cash on hand just in case it took a few days.
Has there ever been a precedent set of this happening? I'm sure they have to have a decent set of backup systems at a bank.
Recent one was katrina. Don't know if it was widespread for all banking, but people with smaller, local banks. That, and don't keep a stack of $100's. Keep lots of small bills.
http://www.thehighroad.org/showthread.php?t=154894
http://www.thehighroad.org/showthread.php?t=156211
EDIT: To answer the question, about 300. I use Wamu and Wells Fargo. I figure if by the time I get to safety (relatives/friends) and their systems are down too, cash might not be any good.