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I was at someone's house once and they made a phone call and had someone bring $50,000.00 cash to their home from one of their bank accounts. I think the person worked for the bank and wasn't a relative with their name on the account.

Raj
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user1276423
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    Just curious: why would anyone need $50000 in cash delivered at home on a short notice? – Eric Duminil Jun 19 '17 at 14:03
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    If you are close enough to this person for them to make this phone call while you are in the room, you can certainly ask them your question. – Ben Miller Jun 19 '17 at 16:06
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    @EricDuminil Poker explains both why they need the cash and why they don't want to leave the table to make the call. – JollyJoker Jun 20 '17 at 10:22
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    To the angry people: I was working on their home network. It would of been an idiot move to ask.. – user1276423 Jun 20 '17 at 12:49
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    @user1276423, best to just ignore silly comments on this site. It's impossible to provide an answer unless you give the country. – Fattie Jun 20 '17 at 17:55
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    @user1276423 Be careful about overinterpreting. None of the responses was "angry", and your explanation of being an employee/contractor is quite reasonable. – chrylis -cautiouslyoptimistic- Jun 20 '17 at 21:25
  • I don't understand the question. Are you asking if a rich and wealthy person is able to pay for services that an "average" person can't afford? From very close personal experience, I say "Yes". Or are you asking if a rich and wealthy person might have $50k in a business safe or similar and have an office manager transport it? Answer seems obvious. Or are you certain that it was a 'normal' deposit account? – user2338816 Jun 21 '17 at 11:06

3 Answers3

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Many services are available to people who are wealthy enough to use private banks. The linked Wikipedia article says:

...banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge-type services, offered by a single designated relationship manager.

Having cash delivered to your door would come under "basic concierge-type services".

Mike Scott
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    Minor note- the article makes a distinction between private banks and private banking. – Harris Jun 19 '17 at 16:51
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    So what, "basic concierge-type services" is the banking equivalent of "other duties as assigned"? – stannius Jun 19 '17 at 18:00
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    "Many services are available to people who are wealthy". Man, that's the truth. +1 – user662852 Jun 20 '17 at 03:52
  • Don't be critical.. You go to a job and do other things for the same currency.. Everyone is trying to get currency from an employer or other people.. We don't trade furs anymore so none of us have a choice.. – user1276423 Jun 20 '17 at 16:57
  • If this is in the USA, I very much doubt that a private banking service, would include this function. – Fattie Jun 20 '17 at 17:54
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    @user1276423, I didn't see any criticism in either the answer or the comments. What are you referring to? Perhaps this illustrates your own mindset more than that of the other commenter? :) If you meant the "Man, that's the truth" comment, my own thought on reading that was, "Yes, that's one reason why it is a good thing to become wealthy." (But then, I doubt I would have read it the same before reading books by Grant Cardone!) – Wildcard Jun 21 '17 at 00:45
  • "Man, that's the truth" could be seen as criticism, but I'm not trying to confuse anyone.. I'm obviously talking about the US. I'm not sure how this confuses people so much.. – user1276423 Jun 21 '17 at 10:08
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    Just to follow up, a cursory google search found many examples of US banks that offer a service with an armored car company to move cash to and from a customer's location, both on a regular route and on demand. It appears to be oriented towards retail business customers, but there's no reason a wealthy individual couldn't use this. – user662852 Jun 21 '17 at 14:27
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This is a facility called Home Banking, which banks in some locations offer. You do not necessarily have to be super-rich to use it though.

Kotak Mahindra Bank has been offering it here in India for about 10 years now. Other banks have followed suit with similar offerings.

I am not super-rich or anywhere close1, but I have used this facility occasionally when I couldn't visit an ATM or the branch, to either get cash delivered to me, or to deposit cash into my account.

The banks do charge a convenience fee for this facility as you might expect, but they waive it off if your average monthly balance exceeds a certain amount.

Not sure about how it works in other countries, but here in India, if you have an account with one of the top customer-friendly banks, this facility is as mundane as a cheque book or a debit card.

1 If I were, I probably wouldn't be posting here. ;-)

Masked Man
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    The OP didn't add a country tag, but since they used the $ symbol, we can narrow down their target country list, to something that doesn't include India. – stannius Jun 19 '17 at 18:02
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    @stannius: What exactly would work differently about the service in dollar-places compared to the described service in India? I fail to see why an answer describing such a service in, say, Belize would be more helpful than one describing such a service in India, if the OP sits in, say, the US or in Australia. – O. R. Mapper Jun 19 '17 at 21:12
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    @O.R.Mapper That's not the point. The point is that we can't rule out the possibility that the OP is in fact in Belize, but we can rule out India. – Relaxed Jun 19 '17 at 22:09
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    @Relaxed: And my point is that this answer is not specific to India. It describes the concept in general terms (as does the answer that has meanwhile been accepted), and provides a concrete example of such a service as a proof that this kind of thing exists somewhere on the world. – O. R. Mapper Jun 19 '17 at 22:58
  • @O.R.Mapper That's a very roundabout way to make your point, then. But in any case, it is specific to India, that's the problem! It gives no reason to believe this exists elsewhere. – Relaxed Jun 20 '17 at 05:09
  • Anyone reading this probably knows nobody with a decent net-worth at least is reading about money on the internet unless it's stats on investments.. – user1276423 Jun 20 '17 at 06:51
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    @stannius You mean this service which exists in India for 10 years doesn't exist in "dollar" countries even now? I guess my point here was that such a service being in existence for a decade in a "third world" country sort of implies that it is a standard service that banks in the more advanced countries would offer. – Masked Man Jun 20 '17 at 07:01
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    Besides, the dollar sign is not really a critical ingredient of the question. We should try to make the question as generically applicable as possible, without conflicting with the OP's problem, so you can as well edit it to "How do rich people get banks to bring large amounts of money home?", and then this answer attempts to show that it is not really something to be surprised about. If I asked, "I saw a rich guy transfer money from one account to another over the internet! How did they do that?", the answer would be, "Duh! that's called internet banking." This is no different. – Masked Man Jun 20 '17 at 07:04
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    I think "Super-rich people don't answer questions[...]" is based on a misconception: You would not know if they did - they do not behave "super-rich" (there are exceptions I chose to ignore). Why not answering a question that is easy for the person? Note that it may be more motivating to earn some reputation points at SE, than earning some more money, if you no longer care about how much you have! – Volker Siegel Jun 20 '17 at 07:08
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    @VolkerSiegel That was a bit of a tongue-in-cheek joke based on a common meme which goes something like, "If I had that much money, I wouldn't be wasting time here on the internet." :-) – Masked Man Jun 20 '17 at 07:17
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    @Relaxed: "it is specific to India" - I disagree. I see it as an answer that is as generic as the accepted answer. It also provides a concrete example that happens to be from India. As it stands, the accepted answer "gives no reason to believe this exists" in any particular place, either. Note that I'm not claiming this should be the accepted answer, or that this answer is any more elaborate than the others. I just find it nonsensical to dismiss an answer on the basis that it contains a concrete example for the existence of a described concept, without any claim that that particular ... – O. R. Mapper Jun 20 '17 at 07:53
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    ... example is the very service the OP has observed while they were "at someone's house". If we want to go into nitpicky territory like this, though, please provide some proof that the OP was not watching someone getting delivered some foreign currency within India. If we don't want to go there (I don't really want to), just accept that an example from India does not invalidate a generic answer for the rest of the world. – O. R. Mapper Jun 20 '17 at 07:58
  • @O.R.Mapper It's just that the whole thing reads as being specific to India and nothing suggests that what you call an “example” is merely that. And I am not the only one to read it that way, as the comments and upvotes testify. The accepted answer is not much better in that it does not produce actual evidence but it does at least imply this exists everywhere. – Relaxed Jun 20 '17 at 09:02
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    "Honestly, what is the huge deal with that?" Well, I'm Italian and I've never even heard of such a thing. If you need some cash (less than 500€, or 1000 at most), you need to go to an ATM, as no one is coming to your place carrying the money. If you need a lot of cash, like 50,000, it's such an unusual situation that I think you really have to go to your bank and talk to them. I guess that in some countries this service is common, but in others it absolutely isn't. – Fabio says Reinstate Monica Jun 20 '17 at 10:23
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    @FabioTurati Based on your comment, I have removed the snide comment. I must admit I honestly thought the OP was living under a rock or something, and it almost sounded like, "I saw a super-rich guy withdraw money from an ATM, how did he do that?" I have now come to realize that this facility which is pretty much mundane over here, isn't so in other countries! – Masked Man Jun 20 '17 at 10:59
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    @MaskedMan The point is that the service requires a person to bring the cash from the bank to the home. That person has to be paid. In India this is very cheap so the banks will offer this service to the middle classes; in the US labour is very expensive so the banks only offer this service to the very wealthy. – Martin Bonner supports Monica Jun 20 '17 at 13:12
  • @Martin Uhm, given that the person who comes with the cash is at a rank at least 2 levels above entry level in the concierge company, is accompanied by a security guard with a licensed gun, and has the trip insured, your claim of this service being cheap sounds rather funny to me. It may be so in comparison to the US though. – Masked Man Jun 20 '17 at 13:21
  • Comments are not for extended discussion; this conversation has been moved to chat. – GS - Apologise to Monica Jun 20 '17 at 18:12
  • @MaskedMan Key issue you are missing here is that, I don't have exact figures but I think that cash accounts for far higher proportion of transactions in India than in US. Which means such service (cash deliveried to your home) is actually less needed thus prevalent in "more advanced" countries. – el.pescado - нет войне Jun 20 '17 at 20:49
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Anyone who has that kind of money to blow probably has a CPA with a power of attorney who could provide such a service.

I don't have that kind of money but I do have a CPA with a POA who would gladly charge me and arm and a leg to deliver money to me.

I wrestled a bear once.
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    The cost of providing the service is probably about the same, therefore either the super-rich person is being charged but doesn't care, or they are providing enough profit (e.g. overpaying) to their CPA that said CPA absorbs the cost. – stannius Jun 19 '17 at 17:59
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    of course the person making the withdrawl is absorbing the cost one way or another. how that cost is itemized seems irrelevant. – I wrestled a bear once. Jun 19 '17 at 18:02
  • I've had this much disposable capital before. Yeah unless you have at least a couple million USD or Euro or equivalent capital you're not going to be retiring unless you're pretty old.. You can't even do that living in a trailer park or apartments.. – user1276423 Jun 20 '17 at 06:58