4 ms·

"Hmm. You're going to charge me $250 a month, based on my cash balance, to keep my money in your institution. How much would it be to rent a large safety depos

by chiph 12y ago

"Hmm. You're going to charge me $250 a month, based on my cash balance, to keep my money in your institution. How much would it be to rent a large safety deposit box and just put my cash in there?"

fexl 12y ago
Some have already closed that exit, banning the storage of cash in their boxes. They want to keep your funds available for negative interest rates and possible bail-ins.
- jliptzin 12y ago
  Could you just put the cash in a cardboard box and then say it's important papers or stock certificates? Do they have the right to open it?
  - drjesusphd 12y ago
    Of course they do. If they lie and say it smells like marijuana.
- linuxlizard 12y ago
  I think the difficulty would be finding enough safe deposit boxes. If I had $100M (let me dream, will you!) where could I store that physically? That much cash takes up a lot of space. The Oatmeal had a post where he talked about how heavy his $200,000 withdrawal was (that was in 20's). A little Google searching found: http://www.cockeyed.com/inside/million/million_dollars.html http://www.cockeyed.com/inside/million/million_dollars.html I think Adam Curry talked about buying actual gold bullion and storing that. Still takes a lot of space and a lot of cost in storage. $100M in gold is over 80,000 oz. Two tons of gold? https://en.wikipedia.org/wiki/Gold_bar#Standard_bar_weights https://en.wikipedia.org/wiki/Gold_bar#Standard_bar_weights http://demonocracy.info/infographics/world/gold/gold.html http://demonocracy.info/infographics/world/gold/gold.html Me, personally, if I had $100M, I'd buy an island somewhere close to an internet backbone. Real estate is always a good investment!
  - fexl 12y ago
    Yes, you're talking about 4.7 cubic feet of gold there. Buy the island and then you'll have a place to store 1 cubic foot of gold, to pay your routine expenses.
ryan-c 12y ago
Chase recently updated the terms on my safe deposit box to state that I'm not allowed to keep cash in there, and I doubt this was specific to me. How they intend to enforce that, I don't know.

by chiph 12y ago

"Hmm. You're going to charge me $250 a month, based on my cash balance, to keep my money in your institution. How much would it be to rent a large safety deposit box and just put my cash in there?"

fexl 12y ago

Some have already closed that exit, banning the storage of cash in their boxes. They want to keep your funds available for negative interest rates and possible bail-ins.

jliptzin 12y ago
Could you just put the cash in a cardboard box and then say it's important papers or stock certificates? Do they have the right to open it?
- drjesusphd 12y ago
  Of course they do. If they lie and say it smells like marijuana.
linuxlizard 12y ago
I think the difficulty would be finding enough safe deposit boxes. If I had $100M (let me dream, will you!) where could I store that physically? That much cash takes up a lot of space. The Oatmeal had a post where he talked about how heavy his $200,000 withdrawal was (that was in 20's). A little Google searching found: http://www.cockeyed.com/inside/million/million_dollars.html http://www.cockeyed.com/inside/million/million_dollars.html I think Adam Curry talked about buying actual gold bullion and storing that. Still takes a lot of space and a lot of cost in storage. $100M in gold is over 80,000 oz. Two tons of gold? https://en.wikipedia.org/wiki/Gold_bar#Standard_bar_weights https://en.wikipedia.org/wiki/Gold_bar#Standard_bar_weights http://demonocracy.info/infographics/world/gold/gold.html http://demonocracy.info/infographics/world/gold/gold.html Me, personally, if I had $100M, I'd buy an island somewhere close to an internet backbone. Real estate is always a good investment!
- fexl 12y ago
  Yes, you're talking about 4.7 cubic feet of gold there. Buy the island and then you'll have a place to store 1 cubic foot of gold, to pay your routine expenses.

ryan-c 12y ago

Chase recently updated the terms on my safe deposit box to state that I'm not allowed to keep cash in there, and I doubt this was specific to me. How they intend to enforce that, I don't know.