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Started By
Message
1
Posted on 2/2/19 at 9:01 pm to boosiebadazz
quote:
I thought the Fed just had it all on ledgers, not actual, tangible cash.
I dont know exactly, it's just the term we use "the fed" I'm not up to speed of the federal reserve and how it relates to cash vault services around the country.
Only that on more than a few times, in conjunction with our bank, I've had to coordinate amounts and denominations to be available at the fed's vault for pickup and deposit, as we were in a state where our bank had no presence.
Posted on 2/2/19 at 9:03 pm to Uncle Stu
quote:Refilling ATM's is a big part of it too. Those machines really do run out of cash to spit out believe it or not.
Mostly it's pick ups for deposit.
Don't know about the newer ATM's but they used to pretty regularly have "incidents" of customers getting a receipt but no money due to the machine running out. PITA for the bank to pull the video and compare records and etc. to straighten it out.
The hoops banks have to jump though for Fed Regs and crap are ridiculous when it comes to mistakes and human error too. Stuff that it makes sense to just take $5 or something out of my own wallet and make the customer happy will trigger all kinds of alarms and warrant all kinds of procedures from the Feds. "See this form? That blank on that form is there for a reason. All blanks on all forms must be properly filled in and submitted on the stated deadline, not before or after."
Posted on 2/2/19 at 9:06 pm to TigerstuckinMS
quote:
Just walk up to one and bang on the door until they open it and you can ask them directly.
This really shouldn’t be that funny but I laughed out loud.
Posted on 2/2/19 at 9:16 pm to Uncle Stu
Dammit Stu!
Posted on 2/2/19 at 9:17 pm to Uncle Stu
quote:
Only that on more than a few times, in conjunction with our bank, I've had to coordinate amounts and denominations to be available at the fed's vault for pickup and deposit, as we were in a state where our bank had no presence.
I would really like to know more on what you're coordinating. Please expand. Are you saying that you placed the order with the FED Vault?
Posted on 2/2/19 at 9:32 pm to OysterPoBoy
quote:
Most of them aren’t even really armored. Just done up to look that way.
False.
Posted on 2/2/19 at 9:37 pm to Mr.Perfect
quote:
Well there ain't a money tree
That’s where you’re wrong
Posted on 2/2/19 at 9:42 pm to boosiebadazz
quote:The Mint (there are two of them producing circulating coinage: Denver & Philadelphia) makes coins.
So the Mint brings it to the Fed and then the Fed distributes it?
The Bureau of Printing and Engraving makes paper bills.
The Federal Reserve System distributes both coins and paper currency to banks, credit unions, and such.
Posted on 2/2/19 at 9:48 pm to OysterPoBoy
quote:
Most of them aren’t even really armored. Just done up to look that way.
I mean, they won't stop an antitank round or probably even a .50 cal, but they're heavy enough for anything your average schmuck robber is likely to carry. They still have to get out and transfer the money though, which would be the time to hit them. It rarely happens because anyone with the wherewithal to try it knows the FBI takes an all hands on deck attitude toward bank robberies and their clearance rate approaches 100%.
Posted on 2/2/19 at 9:49 pm to ELLSSUU
quote:
So bout them gun ports. They real? Or just for looks
no idea. The closest I've ever been allowed is right up to the back doors. And I never asked
quote:
like to know more on what you're coordinating
cash withdraws and subsequent deposits from vault services via armored car. I think that's enough info
quote:
Are you saying that you placed the order with the FED Vault?
No
I placed cash order and scheduled deposits with my bank(s). I was in a geographic region where my bank has no branches/doesnt do business. In conjunction with my bank the funds I requested were coordinated with the fed, thru my bank to be handled by the nearest fed vault. I arranged the armored car company I do business with to facilitate the transport of said cash to and fro
Posted on 2/2/19 at 10:14 pm to Uncle Stu
quote:
So bout them gun ports. They real? Or just for looks
Yes they're real.
This post was edited on 2/2/19 at 10:29 pm
Posted on 2/2/19 at 10:29 pm to beerJeep
quote:They are really just armored car gloryholes. Just go up to one the next time you see one and stick your pecker through it. The best gloryhole bj you'll ever experience. If she really likes what you give her she may just hand you a stack of hundreds to boot.
So bout them gun ports. They real?
Posted on 2/2/19 at 10:37 pm to Uncle Stu
My wife works for an armored car company. Really interesting business
They have a precious gems and metals division that transports for jewelers. They also have a concierge service that will securely transport just about anything you are willing to pay top dollar to securely move. Documents, bonds, certificates, etc
They have a precious gems and metals division that transports for jewelers. They also have a concierge service that will securely transport just about anything you are willing to pay top dollar to securely move. Documents, bonds, certificates, etc
Posted on 2/2/19 at 11:53 pm to HarryBalzack
What if I have a settlement and need cash now ?
Posted on 2/3/19 at 12:03 am to Klingler7
quote:
What if I have a settlement and need cash now ?
This post was edited on 2/3/19 at 12:06 am
Posted on 2/3/19 at 12:05 am to boosiebadazz
quote:I don't post nearly as often as I used to, but this is why I still read TD every day.
Good info. More than I knew this afternoon. Thanks
Posted on 2/3/19 at 12:08 am to boosiebadazz
quote:
But they go to grocery stores and shite too
That's for pickups. Everything is placed in a bag with barcodes. Signed for by store and driver then the bags are scanned. Both sides keep a ledger.
It's safer than an employee taking that bag to the bank themselves.
Posted on 2/3/19 at 12:22 am to boosiebadazz
little known fact: most of the armored vehicles you see are really decoys.
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