Found Wall Street ATM Receipt Shows $97,084.23 Balance
With all the concern about unemployed Wall Street sloggers and whether they'll be able to keep up their leveraged lifestyle, or even get an apartment, this ATM receipt a reader's coworker found sitting in a Wall Street ATM with a balance of $97,084.23 shows there's at least one person who is going to be okay. Plus, this guy knows what he's doing; note how the balance is just under the $100,000 limit for full FDIC coverage.
(Thanks to Miss Dona!)
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Comments:
@Nogard13: I am sure most people have that much. Unfortunately, there are a few of us who have approximately $500.
It is a savings account, not a regular, working checking account. I have nothing close to that in a simple interest bearing account myself, but that quantity isn't necessarily indicative that he or she will be okay. It's common for us poor folks to think that life would just be perfect if we had some arbitrary sum of money. We suck.
@Tank: There was a website I saw where you could buy ATM receipts with these huge amounts on them that you were supposed to drop or give them to a girl/guy with your number written on the back, like it was the only piece of paper you had on you.
@Nogard13: You're bank doesn't have a daily ATM withdrawl cap? I have to pull teeth to pull 600 out for my rent by going over two days.
Um, that's a savings account, which indicates this person has less money than they need in their checking account. Indicative of someone having some financial crisis, maybe? So, yeah this does not mean this person is going to be fine. Having a lot of money at one time does not mean you always will.
Also, why is this being posted at all? Furthermore why am I commenting on it? Where am I?
@djsyndrome: Not at all. Except when I'm waiting for my rent check to clear, I never hold much money in checking. I keep my money in savings because that's got the highest interest rate, and when I pull from the ATM, I pull out of checking to avoide too many transfers from savings to checking a month.
@djsyndrome: Not necessarily. I usually do all my ATM withdrawals from savings so I won't end up bouncing a check.
@Thunderpants: Of course, if he/she just got a big bonus, now may not be the best time to invest it. Even the money market funds are taking a beating.
@dragonfire81: Nononono. It must be a fat cat, getting $100 out of his daily $100k ill-gotten deposits to pay for his daily dose of clubbed baby seals.
Just to put it in perspective:
Two years ago a 16x23 studio apartment on the Upper East Side went at about $1650/month. A good-sized 1-bed in someplace like Park Slope or Williamsburg (both Brooklyn) runs about $2000. I got priced out of a 3-bed in Harlem that I was sharing with a roommate when the rent stabilization threshold broke (it got up to over $2000 in small increments) and they jacked it to $3000/month. $50 worth of groceries in most Manhattan stores is equal to about $35 worth of groceries here in VA.
So that $95,000, while not an insubstantial sum, doesn't necessarily go as far as some might think it would. New York's a vicious cycle like that.
@deverbative: Yep, the last time I pulled $100 out of a near $100K balance I was also having a financial crisis. I didn't have a spare c-note in my wallet. Can you believe it?!
Actually, why does he have that much money in a brick-and-mortar savings account? Does Chase offer some incredible interest that I don't know about? My guess is that he's doing it wrong, and missing out on a pretty good chunk of interest he could be having if his money were in an online savings account.
@Applekid:
You're doing it wrong.
See, what you do is you tell her that you have that kind of money because you drive a 2002 Mazda Protege. If she's dumb enough to date a guy just because she thinks he's rich she's gotta be dumb enough to believe that.
However you may run into problems again when you take her to McDonald's and ask her to "Keep it under $5"
Consumerist: Really not cool to be posting this receipt with even partial personal information on it. One can draw no conclusion from this receipt other than that there is an account with $97,000 in it. BFD. You've contributed nothing to any discussion and just posted someone's information on your blog. Ironic how often you write about company's losing our personal data but then you post this info on purpose.
My coworker (the receipt finder) and I came up with a whole backstory for this guy. He's single, lives on the UWS or Soho and this is his fun-money account (he doesn't care about the bad interest rate, it's all about being liquid). The rest of his money is in different brokerage accounts. He took out the $100 to go out with his friends after work.
I hate to break it to you, but yes there are people out there with money. Who cares? Since when is a hundred thousand in a bank account newsworthy? A person on WALL STREET has money... I'm shocked! Add about 5 more zeroes and then I might find it interesting.
And another thing... why do you assume the receipt belongs to a guy??? Anybody with a halfway decent job in NYC could save up this much after a few years if they really tried.
I don't see the big deal with having $100k in the bank (PLENTY of people do! Believe it!), but this person is not very smart if they have it in a simple low-interest savings account and they're careless enough to just leave the receipt in the machine.
What was funny to me was that they only need $100 in walking-around money. I never withdraw less than $300 at a shot, just to reduce time-wasting trips to the ATM.



























Smart, keeping it under the FDIC insurance limit!