As I stood in line at the ATM this morning in a city soon to be hit by the hurricane, I noticed that almost everyone ahead of me was taking out several hundred at a time. Are there any special protocols or requirements that banks or ATM vendors (whoever keeps them full of cash) must follow around natural disasters in order to make cash shortages as limited as possible?
I am not a business with an ATM, but I am a long time South Florida resident who pays a ton of attention to hurricane prep.
I’ve never heard of any regulation that those businesses MUST follow. However, most businesses in the area I’ve dealt with do stock up before a storm, and happily serve the extra customers. It’s good for immediate business and long term good will.
*There actually are laws here that gas stations that meet certain critera - number of pumps, location, etc - must have generators so they can serve the public after a storm. That’s the closest I know of.
-D/a
I can think of something that tends to encourage ATM operators to fully stock ATMs in areas where people are likely to need cash, without any government regulation necessary. What do you think it is?
Being a Blood Sucking Parasite when people are desperate? I don’t mean this as a personal attack, but, isn’t that the answer?
What? How do you consider it “blood sucking” for the bank or other operator to stock ATMs with cash?
Barter. Then gunplay. The market is changing.
To clarify, I wasn’t asking specifically about government regulations. I was thinking more of industry practice/ specific bank protocols, but would of course be interested in regs as well (if they exist).
During the '03 power outage, it was almost amusing how quickly the more violent areas in the NYC/NJ region had their power restored. I, for one, strapped on the Glock when I went out foraging for food (for defensive purposes, rather than offensive - I have yet to dabble in looting and pillaging… maybe this is my chance).