Money management

[private joker]

Here's my problem. My bank (Bank of America) has a limit to the amount you can withdraw from the ATM on any given day, as most of them do. It's $500. I have a more substantial amount of funds that I want access to daily, up to $800 or $1,000 at a time (reasons are immaterial, but let's just say it's so I can buy in at a 10/20 table somewhere).

How can I manage this? I'd rather not keep the money unsafely in my apartment, sitting in an envelope somewhere, but if I put it in BofA, I can only take out $500 at once. Other banks have told me they can sometimes increase the limit, but it's based on account standing, of which I have none at banks other than BofA.

Anybody?

[Patrick del Poker Grande]

You can't just ask them to raise your daily limit? This seems silly.

[Al P]

LOC at casino.

[IndieMatty]

[ QUOTE ]
You can't just ask them to raise your daily limit? This seems silly.

[/ QUOTE ]

It's absurd. But true.

[coffeecrazy1]

Have you asked Bank of America if you could raise your limit? I got Wells Fargo to do this after only a couple of years of owning an account, and it's not like I was moving millions of dollars through it, either...it was a college account.

[private joker]

[ QUOTE ]
LOC at casino.

[/ QUOTE ]

The problem with this is there are 3 different cardrooms I play at regularly, and 2 others I play at on occasion.

[IndieMatty]

I had this same problem. The only thing I can come up is a safe deposit box.

[Freakin]

If you don't need access to it during hte night time, then a safe-deposit box seems like a good fit.

Freakin

[Patrick del Poker Grande]

[ QUOTE ]
[ QUOTE ]
You can't just ask them to raise your daily limit? This seems silly.

[/ QUOTE ]

It's absurd. But true.

[/ QUOTE ]
If this is the case, open a second account and put some money in there. $500 from each gets you $1k. It doesn't even have to be at another bank. In fact, just do it at the same one and that makes it easier to transfer funds between accounts. I've got this going on at Bank One (now Chase).

[private joker]

[ QUOTE ]
Have you asked Bank of America if you could raise your limit?

[/ QUOTE ]

Yes. They said the amount is set by the company that issues the ATM card (in their case, Visa). The bank doesn't control it, Visa does, and they tell BofA that their customers can't withdraw more than $500.

[warlockjd]

Keep a few K around hidden in various places.
Books, socks, jeans, whatever

[private joker]

[ QUOTE ]
If you don't need access to it during hte night time, then a safe-deposit box seems like a good fit.

Freakin

[/ QUOTE ]

If this is the case, then I might as well just use a regular checking account and make withdrawls at the teller. The $500 is only for ATMs, not in-person withdrawls. But I'd like access to it during non-business hours like 8:00pm and Sundays.

[IndieMatty]

[ QUOTE ]
Keep a few K around hidden in various places.
Books, socks, jeans, whatever

[/ QUOTE ]

This is horrible advice.

(But yeh, thats what I do)

[Freakin]

[ QUOTE ]
[ QUOTE ]
If you don't need access to it during hte night time, then a safe-deposit box seems like a good fit.

Freakin

[/ QUOTE ]

If this is the case, then I might as well just use a regular checking account and make withdrawls at the teller. The $500 is only for ATMs, not in-person withdrawls. But I'd like access to it during non-business hours like 8:00pm and Sundays.

[/ QUOTE ]

Freakin != on top of things today...

I would leave it in a safe of some kind... like one of those shaving cream cans or something. I kept $5k in an envelope in my room for over a year w/o worrying about it too much. My only concern was fire.

Freakin

[private joker]

[ QUOTE ]

If this is the case, open a second account and put some money in there. $500 from each gets you $1k. It doesn't even have to be at another bank. In fact, just do it at the same one and that makes it easier to transfer funds between accounts. I've got this going on at Bank One (now Chase).

[/ QUOTE ]

I kind of like this idea, but I'd prefer to keep the funds separate from each other, so my regular bank account isn't touched by my p***r account. I'd have to have 3 accounts: my regular one, and 2 p***r accounts that I split my roll up into and take $500 from each one. That sounds like a pain in the ass.

[meep_42]

[ QUOTE ]
I want access to daily, up to $800 or $1,000 at a time (reasons are immaterial...

[/ QUOTE ]

Are you cokequestion? (Ok, only kidding!)
I have no advice to offer, either. :\

-d

[edtost]

get a 2nd bank account?

[jakethebake]

Has it not occurred to anyone this might be a better question for B&M?

[private joker]

[ QUOTE ]
Has it not occurred to anyone this might be a better question for B&M?

[/ QUOTE ]

I was hoping the discussion wouldn't center on what the funds are used for. How does that matter? This question can apply to a variety of circumstances by which a person wants access to more than $500 in cash per day.

[MyTurn2Raise]

I use a bank located on the way to the casino. In person, you can withdraw as much as you like. while a pain (I have to get there during bank hours), it's better than walking around all the time with cash. Fortunately, the bank allows atm envelope deposits 24 hours.

Furthermore, it's kind of a "get myself in the right mindset" ritual. Taking the money out reminds me it's time to play my A game.

[drewjustdrew]

Get bank accounts at multiple banks. Keep $500 minimum in each bank. When you need money, withdraw from multiple banks. Only issue would be account minimums and ATM fees if ATM isn't for your bank.

[private joker]

This gives me an idea -- I think I've got it. I open a second account at BofA for p***r. I keep all my cash in there except for $500, which I keep at home. I withdraw $500 on a given day, and have $1,000 at my disposal. Whatever amount is over $500 when I'm done, I deposit back in the BofA p***r account and then I rinse and repeat. Should I have less than $500, I just wait until the next business day and withdraw in person for whatever amount I like.

[sfer]

I have a Prima account there (employees would get them and I never bothered to switch when I stopped working there) and I can withdraw a dime.

[jakethebake]

[ QUOTE ]
[ QUOTE ]
Has it not occurred to anyone this might be a better question for B&M?

[/ QUOTE ]

I was hoping the discussion wouldn't center on what the funds are used for. How does that matter? This question can apply to a variety of circumstances by which a person wants access to more than $500 in cash per day.

[/ QUOTE ]

I understand, but it probably gets asked there regularly.

[DougOzzzz]

I have an account with BofA and had my limit changed from 500 to 1500 without any problems.

[swede123]

Just go Rounders style and put rolls of 100s in various places. Seriously, with a bit of creativity you can find a dozen spots where a burglar would never search if he was to break in. This way you have the cash ready at hand and don't have to deal with the bull of most checking accounts.

Swede

[johnc]

[ QUOTE ]
Keep a few K around hidden in various places.
Books, socks, jeans, whatever

[/ QUOTE ]

Kept 'bout 3k in a Ken Warren book - figured it would be safe there, it was. Also, some people hide stuff in zip-locks in the dishwasher, like guns.

[NotMitch]

[ QUOTE ]
I have an account with BofA and had my limit changed from 500 to 1500 without any problems.

[/ QUOTE ]

Same here, I did this a few weeks ago.

[HopeydaFish]

[ QUOTE ]
Has it not occurred to anyone this might be a better question for B&M?

[/ QUOTE ]

He should have claimed that the money was for hookers and cocaine. Then his post would be OOT appropriate.

[lastsamurai]

MAN I HATE B OF A!!!!!!! try getting a neteller bank card. If you play alot at the casinos you could open up an account with them.

[The Stranger]

umm. what's wrong with going inside the bank?

[swede123]

I really don't get everyone's obsession with keeping your immediate bankroll in a bank. Banks don't give much, if any interest on checking accounts. As you know, there are silly rules about you accessing your own money, and many times they charge silly fees for random stuff. Find yourself a good spot to stash a few thousand and you're good to go.

Swede

[MtSmalls]

I keep about $5K in a fire proof safe at home.

They cost about $100 at Office Max.

[daryn]

[ QUOTE ]
[ QUOTE ]
Have you asked Bank of America if you could raise your limit?

[/ QUOTE ]

Yes. They said the amount is set by the company that issues the ATM card (in their case, Visa). The bank doesn't control it, Visa does, and they tell BofA that their customers can't withdraw more than $500.

[/ QUOTE ]

i use the same bank and just went in and told them to up the limit. they said "ok".

[STLantny]

I started off being able to withdraw 1500$ at ATMs and that is just with my neteller card, I think I can get teh same with my normal atm card. What I do, is have 3 seperate checking accounts, a "liquid one" that I use to as a go between from party/igm to to the bank, and hten I can transfer funds instantly online from that account to my "normal" bill paying one. That way if I get nailed online somewhere, ie, theft, I cant get hurt too bad. And of course a savings account. I also have a big safe that I keep money in too. Hid it in a closet, make sure its fireproof.

[thirddan]

does your bank have free checking accounts? if not go to Washington Mutual and set up two free checking accounts...then you can withdraw 1k per day, 500 from each account...or just keep a roll in your underwear drawer...

[fsuplayer]

[ QUOTE ]
I keep about $5K in a fire proof safe at home.

They cost about $100 at Office Max.

[/ QUOTE ]

[boedeker]

i have bank of america and had the same problem until i demanded they raise my daily limit which is 2k now.

[The Stranger]

[ QUOTE ]
i have bank of america and had the same problem until i demanded they raise my daily limit which is 2k now.

[/ QUOTE ]

that is a lot of twenties.

[Turkish]

[ QUOTE ]
I keep about $5K in a fire proof safe at home.

They cost about $100 at Office Max.

[/ QUOTE ]

Excellent, a safe, they never look there.

[DavidC]

I had this problem also.

Call your bank, tell them that you want it moved up to the next limit.

Alternatively, get like 6 bank accounts, as long as the service charges won't kill you (depending on your age, this might not be an issue).

[private joker]

I went into my BofA branch and asked about opening a separate account. They did so, giving me a limit of $700/day, and I can use the same ATM card. I also get a small interest since it's a "cash maximizer" account, which is sort of like savings but not really.

So now I'll have $700 available, and I just need to keep a few C-notes stashed at home to cover any expenses. I can also keep my p***r bankroll separate from my other funds. The only annoying thing is walking around with 35 $20-bills.

For those of you who said BofA upped your limits to $1500 with no problem, then I wish I belonged to your branch. The one in Los Angeles won't do it, even for a customer with 7-year standing.

[swede123]

Yeah, non-casino ATMs that pay out in freakin' 20s is a pain in the ass. I still think you should stash the full K at home, but then again I have a mighty vicious guard dog (http://forumserver.twoplustwo.com/showflat.php?Cat=&Number=3215258&page=1&view=colla psed&sb=5&o=14&fpart=1) at home to protect my bankroll.

Swede

[STLantny]

My grandparents used to bury money in a paint can in the back yard.

[Lestat]

Save your money so you can move into a nicer neighborhood where you don't have to worry someone breaking in and stealing a lousy thousand dollars.