I went to my local community bank to withdraw $4,000 to purchase a used car. I was told I could only withdraw $2,000 per day. I said, "ok, I'll be back tomorrow for another 2k and the day after that for another 2k and the day after that until all my cash is out of your bank." I got a call from the bank manager after I got home and he explained that they were worried about a bank run. I told him that limiting access to the people's own money will cause exactly what he was trying to avoid and I was going to tell everyone I knew. He told me to come back in and I could have the rest of the money I needed.

@gchsbus

9 ай бұрын

That happened to me once. ONLY ONCE. I asked them plenty of times. I also had to make a large purchase and the seller refused to come to my bank to get a cashier's check. I wanted them to come so they knew it was real. They only wanted cash. I called the corporate office and kept going higher and higher up. No one would authorized it. So I told them I was calling the police. I then calmly walked outside and called the police. The police came and I told them the bank would not give me my money. They went in and came out and helped me file a police report. The next day, my debit card did not work. They closed my account. i called them. Reason stated they felt I was a danger to employees. I did not even yell or scream. So they sent me a cashiers check in the mail for my balance and basically told me in the nicest way possible to not come back. To this day, when I am doing business, I do not accept credit cards, debit cards, or checks from that bank from my clients or customers. Sorry.

@willscottrell6919

9 ай бұрын

@@gchsbus What did you want the police to do? It's clearly a civil matter. If I was the bank I would have booted you also. Their ball their rules. I'm not saying you were wrong as you were NOT and you did the right thing, take your business elsewhere if you don't like the rules.

@gchsbus

9 ай бұрын

@@willscottrell6919 I wanted a police report incase I wanted to sue them.

@matthewbyrns-sp8lb

9 ай бұрын

​@@gchsbusWow, just pile up cash, then turn into gold, have to hooard cash

@user-nw1cz2in5s

9 ай бұрын

​@@gchsbuswhat bank

Love this business owner. He believes in the profit/cost motive and not in crazy conspiracies.

@RMUNOZ1963

7 ай бұрын

Harry is a top professional. I learn from him.

I love how pragmatic and rational Harry is. A breath of fresh air.

@cottonclarksa

2 күн бұрын

I’m seeing tour comment five months after your post, but I had the same exact feeling about Harry. He is very authentic, very believable. I very much enjoy the topics that @SilverDragons addresses, but I very much appreciate Harry‘s input on the coin shop side of things. Still, the banking industry on the whole is very questionable in my mind. Yes, they have a lot of regulations to follow, yet they also create a lot of oversight and governance that favors them, as well. In fact, if you go back several hundred years the so-called financiers (aka bankers) have ALWAYS had favorable governance. To wit, You can go back to the tea party incident in Boston in the 1700s where the financiers were a major player behind that event . And look what that created! 😏 Bottom line, yes, I agree with Harry in that banks have every right and reason to charge fees to remain profitable. But I don’t trust them; I don’t trust the influence they have over governmental legislation and regulations. Just don’t.

This was certainly a different kind of video but these issues need to be discussed and I for one appreciate that you talked about them with Harry. Thank you!

@stratcaptain66

9 ай бұрын

Harry of course is wrong about the reason cash businesses are being targeted. Yes its more trouble for banks to deal with cash but a CBDC would hand complete control over to banks and government and take all our monetary freedom at the same time.

@100fold64

9 ай бұрын

@@stratcaptain66i agree, the globalists are lining up the agenda to lock us down (takeaway our freedom) any and every way they can. I like Harry and think he is an honest man, but he isn’t seeing the big picture!

@bensherman8976

22 сағат бұрын

​@@stratcaptain66I agree 👍🏻

Didn't all banks have to count the cash that was deposited into them.....? This is insane...... This is why everyone needs to continue using cash in their everyday transactions.

@KozmoDyne

9 ай бұрын

When banks think that handling cash is beneath them, then they have reached so much sense of entitled privelege that its time to rethink the institution. They are basically trying to use shame (again) to get us to surrender personal sovereignty for (again) the "common good". Meaning, commonly only good for them.

@Razor__1972

9 ай бұрын

they are going to ban hard currency

@greyfox79007

8 ай бұрын

No banks carry the minimum required to cover deposits that was 20% until Covid then they reduced it to 0%

@Theactualcurrentsea

8 ай бұрын

Won’t happen cause people are too lazy. Everyone needs everything to be super easy and even faster. Thing is nobody knows why or where they need to go so fast. Bunch of people in a hurry not knowing where they are going, the American dream.

@TrustyZ900

8 ай бұрын

@@Razor__1972 And we'll all be screwed.

Coin shop owners should start there own bank or Credit Union. I would think this would stop this B.S.

@paulrichards383

9 ай бұрын

They already are a bank so for any shop to use a "bank" seems ridiculous to me. Actually, everyone ought to be their own bank. Unfortunately, most people are pure idiots.

@zenvultra4457

8 ай бұрын

@@paulrichards383 How would someone go about operating as their own bank?

@Seth9809

8 ай бұрын

@@paulrichards383 Credit Unions are great, what are you talking about?

@marcuschonglanceanderson2390

7 ай бұрын

@@paulrichards383wise

@busterbiloxi3833

5 ай бұрын

Start your own bank or STFU!

1400 a month service fee is a tough nut to handle!! Always good to see Harry and the guys in his shop!! He's a welth of knowledge. I hope he and all the other good shops out there can stay in business for years to come!!

**ATTENTION** I just walked up to a local coin shop "LCS" and they had one of those palm readers that map your veins. When they told me to scan my palm for security purposes, I immediately walked out. I called them back to inquire if it was a mandate or business decision, and they advised me that "it is a business decision for security purposes." I explained the machines have a deeper implication, and I meant no disrespect. I will not be returning, nor will I give any store my patronage who has one of these machines.

@lostincyberspaceIII

9 ай бұрын

I am curious what your reasoning is? is it just tracking or is there something more?

@bujmoose3992

9 ай бұрын

@@lostincyberspaceIII You might not be a believer, but some of us think it is just one step closer to "the mark of the beast"

@neilforeman

9 ай бұрын

Good call friend.

@sixinchhiheels

9 ай бұрын

@@lostincyberspaceIII Oh dear. Yea, I highly recommend you conduct your due diligence. Smart cities, Agenda 30, MAUI FIRE, MORROCCO EARTHQUAKE, PARADISE, CA FIRE, ETC, ETC. The rabbit hole runs D E E P! Brackishbass is right on!

@sixinchhiheels

9 ай бұрын

@@bujmoose3992 The book of Revelations

Harry is one of a kind giving an honest non-conspiracy opinion here. I love these videos. More Harry content please. Actually as much as possible just shadow him for a week in his shop.

I've owned businesses here in Canada. It's common to pay for "handling physical cash" on deposit. It still goes on here. I often wanted to collect $1000 in nickels and dimes just to get my money's worth LOL

Harry!! I always appreciate his POV he always comes from a logical, level headed, and well thought out place instead of escalating to the doom and gloom. So refreshing.

I worked in banking two decades ago and the attitude towards cash was still similar. Banks don't want to keep too much cash on hand not out of concern about a bank run but because of liability - they want to keep their insurance rates low and one way to do that is limit how much they could lose in the event of a robbery. Also banks generally don't want the liability of dealing with cash heavy businesses not just because of the increased risk of robbery but also cash heavy businesses require more paperwork and reporting because of various anti-money laundering laws.

I think if there is a back door code it's no longer a safe it's just a lock box

You are not alone, banks seem to even hate their customers.🇬🇧 I went into mine to buy €50 and was told that I had to buy a minimum of €200. I went to the travel agent and bought €50. No problem. On another occasion I went into my bank to open a savings account only to be told I had to go home and open one on line. Needless to say I was not to happy , went home and phoned their complaints dept who opened the account for me. They won’t be happy until all of the branches are shut and all the ATM’s are removed to force us into a cashless society while increasing their profits at the same time.

Chats with Harry and the team = my favorite videos on KZread!!!!! THANKS!! I NEED to make a pilgrimage to Oregon to visit the shop (and spend way more money than I should)!

I just paid for the first time in my life a $6 fee on a checking account that I have had for 24 years. The banks are going after everyone they can to take other people's money. The financial system in this country is getting out of control.

@theboringchannel2027

9 ай бұрын

if you have a decent balance, every bank offers free checking. costs banks money to maintain your account, if your deposit amount is low, you pay a fee to offset this cost and provide them a profit for the service. Can always switch to another bank.

@williamfender661

9 ай бұрын

@theboringchannel2027 The point is I have never had to worry about that. Now I have to. It just seems like every bank, every company, and every government has to nickel and dime the crap out of everybody. Eventually, there won't be anything left.

@theboringchannel2027

9 ай бұрын

@@williamfender661 times change. think about all the things that are different today, than 30 years ago. 30 years ago TV was free, you pay today.

@tjmmcd1

9 ай бұрын

Right, yet Harry is actually PROMOTING and DEFENDING the fact that banks have a RIGHT to charge us to DEPOSIT money into our bank accounts.

@lilPerc30

9 ай бұрын

In Canada if you have at least 4000 in your account you dont pay a monthly fee at some banks.

This guy is so easy to listen to. Unbelievable. Even when he is asked a question I would exect a strange or weird answer from he gives a fantastic response. This guy is on point.

I love it when you visit Harry’s shop! Keep these videos coming 🇺🇸😊

Maybe cash transaction heavy business should form some sort of Credit Union, where they actually own a share of the financial institution.

@joshuagibson2520

9 ай бұрын

Good idea. They will literally do away with physical money eventually though. Its coming. Make no mistake.

@jaya.0069

9 ай бұрын

Great idea!

@loomsmcgooms824

8 ай бұрын

Wonderful idea! You would need some type association for the field of membership.

@togowack

8 ай бұрын

Wonder when the majority will discover crypto and see it was better than cash and banks all along.

@joshuagibson2520

8 ай бұрын

@@togowack that's all well and good if you have electricity. I can trade with cash, gold, or silver.

Great show and great advice well taken thanks for your candidness!

Waiting to get your own money is mind blowing.

What an honest gentleman. Hands down my favorite coin shop owner on KZread.

I love harry. I could listen to him explain things all day haha. Such a wise man with a kind heart!. Great video Dragon.

Harry really seems like such a nice guy.

I’ve been waiting for this video. Lol. Been waiting to hear what Harry has to say about this.

Harry is a very reasoned person when he talks about the cash issue. Banks have been changing their procedures on cash for some time, but it is only now becoming more apparent to us here in the USA. A few years back when there was a financial crisis in Europe, banks started charging customers a small percentage for parking money in money market accounts. The simple answer was that they had too much cash on hand and were restricted in what they could do with it. Cash is becoming inconvenient and takes employees to handle it, which Harry discusses. My banks main branch in a city of 100,000 people now only has two tellers normally. This is in an office with six teller windows that at one time were all staffed. The offices once occupied by financial advisors are only used by appointment. Covid put the nail in the coffin so to speak with people working from home and it is unlikely to go back to the good old days. Cash is on the way out for many reasons, some of them not good, but I doubt there is anything we can do to stop it. The best we can do is put the correct people in State and Federal offices and trust them to do the right thing, instead of restrict what we can buy.

Harry is such a great guy. I met him years ago and it is still the best experience I’ve ever had with a coin dealer.

I just subscribed to your channel because of Harry! I very much enjoy watching and learning from him in your videos!

Hey great video Dragon and thank you very much for giving the daily on the JUNK SILVER, SOVEREIGNS, ROUNDS AND BARS. WE REALLY APPRECIATE THAT INFO. ITS THE FIRST THING I THINK OF EVERY TIME YOU START A VIDEO AT HARRYS. THANKS AGAIN FRIEND.

Always enjoy your show, good information and you are a pleasure to watch.

Harry and his team are great.

Harry is a class act.

Another great video with great insight. Thanks!

This is crazy! I was at Harry's an hour before this video was posted and thought about mentioning this topic. I was too busy joking about them all being KZread stars.

@MrTruckerf

8 ай бұрын

Well, I do like to hear what Harry has to say. I respect the man for his knowledge and honesty.

Looks like cash needs to be stored and considered as inventory.

@KirkFickert

8 ай бұрын

Not in a world of civil forfeiture...

another great video. love these guys. i hope im out that way soon as i would love to stop by and help support harry and his shop

Really enjoy these videos. Thank you!!!

So glad I live not far away from Harry's Coin Store. I love the place!

Learn a lot on your content. Harry is a classy smart guy. Great shop. Subbed. Thanks!

Good video. You shed light on some important questions.

Brought my first Silver and absolutely stunned by it thanks Harry and Dragons for the great videos

@wantsome-zs5sq

9 ай бұрын

LOL If you establish a nice hoard of metals Good luck selling it if you need to.

I enjoy listening to intelligent people having serious conversations.

Great to hear Harry’s opinion

Interesting video. Answered some questions for me and gave me a different way to see this.

Imagine that… Money in a bank! Imagine putting your money in the bank in a “savings”account, And they put a clause in there that if you don’t have enough money in your “savings” account they charge you a monthly fee of eight dollars and hope that you don’t see it. Oh there’s way more to this topic!

What a nice and reasonable man. I don't use coin shops or have coins, so I'm not sure why I clicked on this video; but he seems like a great guy to talk with.

Old Norm MacDonald Joke: "Ya know I went to the bank the other day to make a deposit into my account. I handed the teller the the deposit slip and the checks, and she then asked me for ID. I said...I'm making a deposit, what do you need my ID for? She said that's bank policy. So I asked her 'You mean people are trying to put money in my account...and you're stopping them?" 😄

This is such a great channel. Makes me want to see Harry and associates but I’m stuck in Massachusetts

My auto mechanic also informs that the bank charges him for cash deposits. It's just one more way for big brother to track our activities on the way to a total digital economy.

One time I sold some coins to a coin shop and asked for a check. The check was written on a small bank in the same city as my big bank branch. It wasn’t a huge amount of money. Less that $20k. Anyway, the bank placed a hold on the check for two weeks. Their excuse was that, based on available information, the check was not likely to clear. Something like that. Of course, local checks don’t take that long to clear. Obviously, the bank was just giving customers of the coin shop a hard time. And of course, the check cleared.

@samlevites9824

4 ай бұрын

I’m curious, why did you prefer to receive a check vs. cash in hand type of transaction. I’m new to the precious metal collection and I’m curious as what is benefit in receiving a check and waiting 2 weeks vs money in hand (assuming receiving cash wash an option the shop offered you, but you asked for a check)

@jasjas-rm9kc

4 ай бұрын

@@samlevites9824 I didn’t want to have to deposit more than $10k into my bank. I wasn’t in immediate need of the money, so I figured a hold on the check would be ok. It never occurred to me that the bank might put a two week hold on a local bank’s check.

@samlevites9824

4 ай бұрын

@@jasjas-rm9kc interesting! Thank you for answering my question. I’m assuming, if you made money from this transaction, then you would likely have to report the income since you received the money via check? Not that you wouldn’t have reported any profit if this was a cash only transaction. I’m just saying some people probably won’t report any profit made when selling their coins and likely probably prefer a cash transaction probably for this reason, but then like you said, what would you do with the cash since depositing large amount of cash into bank raises alarms.

@brennelement6451

Ай бұрын

For anyone who isn't aware, anytime someone writes you a check, you can always go to THEIR bank and cash it (you don't need an account there yourself). My mind was blown when I first learned this, and I've done it several times when it's convenient. No need to wait longer for the check to clear, if the check writer's bank is not out of your way.

@jasjas-rm9kc

Ай бұрын

@@brennelement6451 Even that might not always work, depending. One of my friends has a law firm and had a large check to cash to pay a client who needed the cash that day for another transaction. Anyway, he went to the bank with a $35,000 check and asked for cash. They told him no, at first, but he finally got the money after a heated conversation with the bank manager. I once had a similar situation, years ago. I went with a large check to the same bank, but to a different branch from where the account was opened. I had no choice but to go to the other branch. The moral of the story: banks don't like to part with cash.

Another reason banks might close accounts that have a lot of cash deposits and withdrawals are the money laundering laws. The banks want to be very careful not to violate those laws since the penalties are stiff. They would rather chase away legitimate customers then take that risk.

@omgpickle

8 ай бұрын

The problem then is those laws that shouldn't exist.

Love hearing from harry thanks SD

I worked at one of the large banks and I do not remember the exact numbers, but for illustrative purposes it was something like ..... It costs a bank $1.25 to process your check deposit with a teller. It costs them $0.65 to accept your deposit at an ATM. It cost them $0.25 to process an electronic deposit. There was a large push to move habits to online which even included making in person bank visits inconvenient with long lines and bombarding people with new products.

No one should be buying Liberty Safe from here on out...PERIOD! You're fortunate to have Harry to bounce things off of. So many people, including myself, might be too quick to reflexively assume an anti-coin shop or anti-cash type of attitude from banks, when that might not always be the issue. It's useful to hear more moderate and well thought out points of view that can serve as a corrective for those of us who are sometimes too quick to leap to certain assumptions consistent with our own prior views.

@RobertLee-wi5kc

9 ай бұрын

Would the owner prefer the police to con in with blow torch? Once the court order is signed kiss it goodbye. At least now he still has a safe to use.

@Paul-vf2wl

8 ай бұрын

It seems unlikely that they are the only manufacturers that do this

His thoughts on coin shop banking makes sense and I would’ve never thought of that! And he’s correct in saying he agrees with the fee’s because the bank have to make something or it just doesn’t make sense for them to keep the accounts open.

@timm8220

9 ай бұрын

It's partially about them covering their costs but it's also partly because they want to disincentivize people from doing business in large amounts of cash because it can raise the risk profile of the bank which causes the amount they pay in insurance premiums to the FDIC to increase which is the real cost to the banks since it's a % of their total deposits.

Love the videos; wish I had a great coin shop like Harry's near me.

Love the Harry's ad spot at the beginning. Lol looking at the comments I don't think your viewers understand how much banks hate cash.

@BlaubartMT

9 ай бұрын

They don't hate it per se, it's just business. When I deposit cash and then write a check, the bank has to send money, either electronically or physically, to the Federal Reserve to cover that check. Not everything is electronic, so eventually, they'll have to send physical money. When they do, the armored car companies charge them a fee which is typically a combination of weight and value. Send a lot of pennies, pay a lot of money percentage wise. Send a lot a 100's, pay a lot of money due to the liability involved. What I do believe though, is with the current interest rates, they should be able to earn money from deposits and not have to charge money for cash transactions. I had an account at US Bank that was charging me cash deposit fees, so I switched banks to one that doesn't charge any such fees, and has lower money transfer fees too.

At least he gives answers he believes in vs. the trend of diving into conspiracies that seem to be very popular on some other silver/coin channels.

@NA-me6sh

9 күн бұрын

conspiracies or truth? You'll find out in the end

in holland the same paying to deposit money, even from a childrens piggy bank on a childrens savings account they charge you money. but also when a shop wants to get cash money to use as change for customers, you need to pay to get cash.

I’ve been a casual viewer for about a month now, but you can let Harry know that he earned you a subscription by doubting if only him and Brandon could carry an audience. They can!

@tjmmcd1

9 ай бұрын

Brandon was the man who won a stock car race and KNEW DARNED WELL that the croud was chanting, "EFF YOU BIDEN"..not... "Way to go Brandon", but,he pretended and acknowledged to the reporter that the crowd was praising him, for winning the race. BRANDON, is a total SELLOUT!!!

@floxy20

8 ай бұрын

???

Interesting stuff guys, keep it up.

Harry is crushing.

Funny thing I learned Roman Numerals from 3rd grade and still remember them

Great coin shop, great team!

8:40 great perspective Harry. Thanks for sharing. I figured it was likely due profit margins and hassle for the bank. However I do think it is bad publicity for the bank and it may hinder their business.

Harry seems like a really nice down to earth guy. I really like his crew of peeps. If Harry was near me I think I would make him my dealer.

These are my favorite episodes

It is specific to cash-heavy account. i used to own a business that was also cash heavy; same issue. I also agree with Harry on CBDCs. A lot of hype over nothing; central banks have been digital for decades. CBDCs are just the process being moved out from central to local banks...only really affects banking system (my opinion). (I need to pop up there sometime to meet Harry and crew since he's in my neck of the woods [~1.5 hrs away]. Nice post guys!)

Some small Canadian jewelery companies are being de-banked without explanantion. Told they have a week to close their accounts and move along. Appreciate Harry's perspective.

What do you know about the yearly FUN show held in Florida? Any good? I love your videos. Keep it up. ☮️

The Canadian coins are normally in a plastic case with a case to hold the coin. I grew up receiving one or two every year from my father. He sold them on me.

When you said it was just with him 1 on 1 I was like.. I hope hes packing.. Then his buddy shows up next to him with an arm!!! Awesome!! Gotta stay safe!

@MrTruckerf

8 ай бұрын

I was just wondering what they did for security, and out steps a guard. Nobody wants a shootout, but honest businessmen who deal in cash and metals have to be prepared.

Im not in to gold im not in to silver but this guy friendly service makes me want to buy good job

I have relationships in the form of loans I get then pay off and I have a small line of credit and a few other services, I don't own a business but I do pay myself a $1000 weekly allowance in cash and never have a problem with cash. For me, I was informed its person to person transactions, for the coinshops, I suspect they are triggering a software alert that is not person to person transactions, thats way the bank employees can't do anything about. It's unfortunate cause coinshops are a legitimate business. Great videos and topic!

When I was at the bank, I asked for 100 dollar bills for my 20's and they said they dont have any:( so I think the banks dont want or just dont keep large amounts of cash on hand.

@sixinchhiheels

9 ай бұрын

This has been going on for a couple months. I cashed a large check and asked for 20 and 50's I received exactly that. I worried all the way to the bank though.

@tallgoofyb

9 ай бұрын

You’re a bank you have one job

@takecare5077

7 ай бұрын

Where you just swapping out?

The safest way to prevent the safe companies from giving out a master / backdoor code is a mechanical /analog lock. That being said , if the law enforcement agency has a warrant they will get entry into the safe by any means. Liberty has done this thousands of times I suspect without ever actually seeing a warrant . Ask any locksmith or safe technician what they have to repair more of, mechanical or digital locks. They usually have boxes of bad electronic locks.

In the short run, fiat is extremely important, and we need to keep it available... which means out of banks and into safer locations.

My local credit union, Used to be called the teachers credit union, now it’s something else, got rid of the tellers, they now have small offices, got rid of their drive up clerks, it’s now done by video screen from home office, Keep Stackin bro

Great job keep it up

I like Harry as a person. A straight shooter. Bravo Zulu

10 ounce bars are the best! :)

Cracks me up when he calls you silver dragons. He’s seems like a really cool Guy. Super Approachable. Unlike a lot of the old timey coin dealers in my area.

The Banks in the UK and Ireland have been charging customer to bank with them for years now. They also charge a fee to deposit cash as well as put limits on how much cash you can lodge into your account. These limits have only been introduced in 2023. Its costing me from £5 to £10 every time I lodge cash, depending on the amout I lodge. There's a £250 limit per day via the post office. This is causing me real problems and I've even been charged late fees because of these limits. Ive never been late paying until now.

@pedrowilson6211

8 ай бұрын

CBA bank in Australia is now charging business customers $10 to deposit cash

@Sh311Sh0ck3d

8 ай бұрын

@@pedrowilson6211 But when you do deposit cash into your account it's no longer yours! The bank says it's theirs! These clowns want to start a Revolution.

great video great context question: should bullion owners purchase insurance?

Gotta love the fractional banking system.

This coin shop guy hes being nice but he really knows deep down what's going on...

@doughboy15237

9 ай бұрын

He knows that banks are private businesses that are profit driven?

Why not bypass the bank and be your own bank? Just keep it in a very secure safe, and it’s there when you need it? Not sure I understand the need for a bank other than to pay certain bills electronically.

@BlaubartMT

9 ай бұрын

Coin dealers often have to place orders with wholesalers, where they have to pay money by check, wire transfer, or ACH. So a dealer will sell items for cash, deposit most of that cash, and then use the money in the account to place an order. It's rare when in person buying and selling in cash is balanced to the point where a dealer won't have to go through a bank.

@demri123

9 ай бұрын

Many ppl are not banked and receive payments by check, then go to cash checking place. But fees are high

@johnpglackin345

9 ай бұрын

​@@slapdat.bytemethat's how it needs to be done. Everything by cash.

I got a few AU Mercury Dimes in and they are beautiful junk indeed.

good insight

I really like your replies. Intelligent, well thought out, and shows an acumen for the theory of mind of others. I would like to point out one thing, that you probably already thought of and did a risk/reward analysis on. You can limit your frictional costs from deposits/withdrawals on businesses that do a lot of cash-in/cash-out transactions by having a cash safe that covers the day to day fluctuations in money on hand. If you have $200,000 in coins, how much more risk is holding $20k in cash? Insurance company might say a lot more risk, or maybe there is a way around that too.

another cost angle may be the bank complying with anti-money laundering laws. handling cash increases their compliance workload and exposure to fines and penalties. They probably factor in these costs when evaluating accounts. I worked at commercial banks and the federal reserve and EVERYBODY has to take money laundering classes even if you have nothing to do with transactions (for example, admin assistants and computer support people)

I would open accounts at multiple banks if they were sticking it to me for depositing too much..

1:30 I really like the 1 1/2 oz coins nice animal designs and the thickness is cool.

I have a liberty safe and lost the code last year. It was very convenient to request my code. It was not a back door code, it was the original code. They did not hide the fact that you could request your code. It is just a form you fill out. While I don't agree with giving the FBI the code, it was not like the hid the fact they have them. There are problems; what if the company database was hacked and all codes got out. For me it just didn't matter for my use case. Liberty has since changed their policy to allow you to remove your code from their db. As well as be more strict with requests from the law enforcement. They addressed the issues and I think Liberty still makes a good gun safe. IMO.

YES!!! ONCE AGAIN, FIRST PERSON TO VIEW, LIKE AND COMMENT!!! BOOH-YAH!!!! LOL Love what you guys do, keep up the good work!!!

What was the manufacture of the safe Harry has?

My guy starts talking about AI bankers, then remembers about ATMs... lol

As somebody who led a teller department for several years at multiple branches, I can confirm that credit unions, at least do not keep as much cash on hand, because it costs money for transportation, insurance, and ordering reasons. Also, it reduces the risk and liability of it being on hand, in case of theft, and therefore protects the staff in a way for not painting themselves as such a huge target. If you’re afraid of AI tellers, then your inverse of news because here in Kansas, at least we have an operation that provides tiller services in place of a “warm body” teller, but it is in the package of an ATM machine: the teller is just offsite at another location.

I work for a bank (east coast based, so not familiar with west coast banking regulations) and a lot of this information is factual. Banks are "assessed" on how much cash they should have on hand every day. Therefore, most banks don't have hundreds of thousands of dollars on hand at any given time. That explains why Harry has to place an order for a large withdrawal. And Harry's type of business is considered a "high risk" business which most likely factors in for the high fees. I don't necessarily agree with that but it is the regulation. Any transaction involving $10,000 in cash (deposit/withdrawal) requires a CTR (currency transaction report). Although every bank has their own regulation in which they do their own report, usually less than the CTR limit. Harry is right, with the liability of employees and miscalculations of cash can cause an issue for banks so it does increase expenses, however the increased "armored car service" i find hard to believe unless it's a local/smaller bank.

@johnpglackin345

9 ай бұрын

Those regulations should be considered unconditional. It looks like banking has now become more of a liability.

The Liberty Safe co has that backdoor code so that it can be reset if the owner loses the combo or the safe changes hands and the combo is not known. I own a 2nd hand Liberty safe and the local Liberty Safe Rep came out and reset the combo to the factory default and I set it to my own after.