Imagine being told there will be no banking for 5 days, over a holiday weekend, one day before it was going to happen. What does that even mean? No banking means no ATM use, deposits or withdrawals, debit or credit card use or able to go into a branch and for any services.What the hay huh? Or as my Meme would say, “horse feathers” no idea what that means but it seems appropriate in this situation.
Now put yourself in China where cash is king. I heard of the great bank shut down as a rumor from another employee, no email, phone call or the very popular SMS from the bank, who likes to tell me of their great rates available. HR called the bank and confirmed there will be no banking for 5 days. The reason is they are doing something to their systems. Again what the %&$#? I am glad I will be out of the country during this dry spell. Imagine Florida and a hurricane is coming, the stores gets crazy, they run out of water, flashlights, tarps, and Pop Tarts. Well that is the bank, the ATMs are already out of money today and of course they are not filling them back up. I am curious on the impact this will have on the economy and local businesses that are cash only. Although, I wouldn’t be surprised if locals keep money under their mattress instead of the bank so this whole thing means nothing to them, just another day or 5 in China.