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Run at the bank? And could New York City schools close soon?
Bank of America on Greenwich Street, next to Whole Foods, ran out of 50s and 100s this afternoon and the line to make a deposit at the teller was easily 45 minutes long, C. told me. Ordinarily that branch is empty. Are people really pulling their cash out of their accounts??
Also, from a source who works for the public hospitals, word is that the city’s public schools may close soon. But the mayor said in his press conference a couple of hours ago that the city intends to keep the schools open, but will cancel (or move online) any non-essential, non-instructional activities such as assemblies, sports, after-school activities, parent-teacher conferences, PTA meetings and school plays and recitals.
You can get immediate updates via text from the city by texting COVID to 692-692.
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Isn’t there a preference for people to NOT carry cash? Money has soooooo much germs on it. Debit/credit is safer!
Or is it because people are worried the economy’s going to tank so take out cash now?
If you need to move/get out, cash is still king. After 9/11 the “go bag” which I still have, had masks with very good filters, water purifiers and cash, etc. I understand the logic. Also if there are power interruptions those ATM and charge machines may not be working.
March 15. Schools are closed in NYC along with Kentucky where I reside and many other states. By March 22 the virus will have doubled again so go get some cash out of the bank while you can. You can always redeposit when this blows over. Take some and things you could sell or trade. Better safe than sorry.
Good point! Having a couple thousand cash stashed away is prudent for when a cyber attack takes down all the banking networks.