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$20 Billion Dollar ATM withdrawals - what happens to the cash?

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  1. #1

    Join Date
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    $20 Billion Dollar ATM withdrawals - what happens to the cash?

    Where does it all end up? If its not spent, do banks run out of cash eventually?

    How much cash do the banks keep around in the ATMs?

    HK$20 billion-a-month surge in suspicious ATM withdrawals hits Hong Kong banks after Macau rolls out facial recognition | South China Morning Post

    MandM! likes this.

  2. #2

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    Quote Originally Posted by shri:
    Where does it all end up?
    in macau, on black or red
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  3. #3

    The daily limit for cash withdrawal from a mainland card is 4000 HKD. Getting to 20 billions sure takes some persistence.


  4. #4

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    That explains the long lines in front of the ATM at my MTR station

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  5. #5

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    Quote Originally Posted by jonastainine:
    The daily limit for cash withdrawal from a mainland card is 4000 HKD. Getting to 20 billions sure takes some persistence.
    Some people's time is cheap::

    https://www.hongkongfp.com/2018/01/0...-hk360000-atm/

  6. #6

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    If HK stops the mainlanders withdrawing cash so easily, there will be even less mainland cash for shopping here and propping up the economy!


  7. #7

    Join Date
    Jan 2010
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    Quote Originally Posted by jonastainine:
    The daily limit for cash withdrawal from a mainland card is 4000 HKD. Getting to 20 billions sure takes some persistence.
    The limit is 10,000 RMB per day and 100,000 RMB per year. You can withdraw multiple times per ATM in one go to reach 10k.

  8. #8

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    Quote Originally Posted by JAherbert:
    in macau, on Banker or Player
    fixed that
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  9. #9

    Join Date
    Nov 2014
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    458
    Quote Originally Posted by shri:
    Where does it all end up? If its not spent, do banks run out of cash eventually?

    How much cash do the banks keep around in the ATMs?

    HK$20 billion-a-month surge in suspicious ATM withdrawals hits Hong Kong banks after Macau rolls out facial recognition | South China Morning Post
    Cash will likely go back into a mainlander's bank account in HK. There's no net loss of cash.
    z754103 likes this.