What business is it of the bank or government if you put cash in your bank safe deposit box?

Today, a bank restricted how much I could cash out of my savings account and told me I was not supposed to put it in my box. They said I had to make an order for anymore cash and would not be able to get it until Tuesday. Today this happened on a Thursday. I am not rich, and their actions scared me more than the financial economy.

What business is it of the bank or government if you put cash in your bank safe deposit box?
I was told that taking money out of cirulcation is against the law and not only that, but if something happens to you and no one knows that you have money in the safe deposit box then there is a whole bunch of issues that arise from that. I understand that you want to protect you money in this economy, but keep your fingers crossed that things get better. Maybe get a fire safe box and keep it in your house, but be very careful of how much money you leave in their and make sure someone you trust knows that you have the fire safe box and how to get into it in case something happens to you. My husband passed a year a little over a year ago and I didn't realize that he had a safe in his workshop until I was cleaning it out and came acrossed it. It was somewhat expensive to get a professional to get it opened, but at least it was done. another thing alot of people don't realize is that just because it is a bank they don't always have a lot of money those days of banks carrying thousands of dollars are long gone.
Reply:Friv, you dont have to tell anyone how much you put in your deposit box. Speak to the manager.
Reply:I'll say up front I don't know anything about safe deposit boxes. However, it does occur to me that maybe it's not about the box, but about how much you're trying to take out of savings. It would depend on the amount, how long ago you put it in there, in what form you put it in there, etc. There actually can be restrictions on removing money from an account, simply because of clearing time of checks, or as a security issue if you're trying to take too much out. Just for instance, I have a bank out of state where I have CDs so I can't get it in person. They can send a check, to the name and address on file, if it's under a certain amount. If over that amount, I have to make the request in writing (even though it's going to the name/address on file), and they have to write an order and send it to another department for approval.





Ask WHY they are doing this.
Reply:The bank person was wrong. You can take your money and put it in the box. Don't know why you would do this since it's not going to earn you any interest.