For 2 years I repaired ATM machines, as well as stocked them with money. I did this for (2) major national banks (Bank of America & Bank One). I can tell you this about the machines. Each ATM (normal bank sized ATM's) has three (3) cash bays. Each cash bay holds $50,000 in $20's. Thats a total of $150,000. Considering the possibility of people taking as much as they can out of the machines on Dec 31, 1999, and the fact that the average maximum withdrawl allowed is $300, it will take only 500 people to empty the machine. Just food for thought : )

-- Cody Bierman (mindcrime@uswest.net), November 23, 1999

Answers

Hi Cody. The UK situation is similar. I never checked, but I'd expect we're using different machines, as our #10 and #20 notes are different sizes. The four (older) machines that I filled were all identical, and only had 2 cash bays, holding #40,000 each in #20. Our withdrawal limit is #250, so they can be emptied by 320 people. At (e.g.) 45 seconds a transaction, that's 4 hours worth. With the more usual mix of #10's and #20's, that's #60000, 240 people, 3 hours.

As the victim of many a weekend and evening call-out, I can assure you that around Christmas they DO empty, and regularly. I personally helped re-fill a #60,000 machine three times over one weekend, after leaving it full at 5pm Friday. That's #7500 per shopping hour, or #125 a minute.

I'd really interested to see some detailed usage statistics for ATM's, both during mid-year and in the run up to Christmas. But then I'd a sad computer geek who likes doing sums. :)

-- Colin MacDonald (roborogerborg@yahoo.com), November 23, 1999.

It will take only a few to be empty to start (the non-prepared) people to begin worrying.....then start forming lines....then (after the weekend...) all hell breaks loose.

I still expect nothing major to break - if at all - until the news begins covering it in a frenzy, of course - after Christmas.

---

A technical questions - what are the communications channels/methods needed for the local transaction (at the ATM at their bank) to get through to the main computer (at my bank) and back to okay the transaction?

Are there "alternatives" to the single main computer at my bank/their bank for sales and debit card transactions? (I know about off-site storage, overnight transaction processing, etc - I'm thinking of the point-of-sale and ATM transactions that require immediate response.)

What is the transaction paths for a state welfare card?

-- Robert A. Cook, PE (Marietta, GA) (cook.r@csaatl.com), November 23, 1999.

Even if people don't get any money out of the ATM, they still won't get it - get what they need to purchase that is. Oh well, not my problem. BAWWWAHHHAAAAAAAAA!!!!!

-- money bags (moneybagsss@moneybaggsss.xcom), November 23, 1999.

How about just walking into the bank and cahsing a check before the New Year?

-- (Polly@troll.com), November 23, 1999.

To answer that question (why not go into the bank and withdraw cash) is that the ATM's hold more cash than the bank has inside. Think about it. An average bank has 3 ATM's. If each was fully stocked, that is $450,000. Bank's simply do not have that kind of cash on hand.

-- Cody Bierman (mindcrime@uswest.net), November 23, 1999.

If digital money goes, can paper fiat money be far behind?
Krugerrands and U.S. junk silver coins may be the trading medium of Y2K. The spot price of Gold has been rising this week after forming a double bottom at the end of October. Any kind of real Y2K monetary scare could send the price thru the roof!

-- Slobby Don (slobbydon@hotmail.com), November 25, 1999.