Re: FDIC insured?
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ok if a bank gets robbed
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How much cash do you think banks have "in house"?
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IIRC, our local small-town branch has something like $250k in the vault. I may not be right on with that number, but that's at least the right ballpark. It's been a while since I was told that, but a good friend of mine used to work there. I think it was something like X% of all funds on deposit there or something like that. Obviously, at a bigger bank, this number will be higher. I remember working backwards from the dollar amount and the % and being somewhat surprised with how small the total amount on deposit really was. It's easy to forget how many people have so little money in their checking account at any given time.
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