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You’re not wrong, but there’s a monumental movement afoot to render cash obsolete. While the standard of $9,000 is still in place for deposits, over-the-counter withdrawals for as little as $1,000 are now being flagged for followup by many financial institutions. Don’t be surprised if, in the next 5-10 years, cash withdrawals will be limited to $100 per day.

What is happening
To help reduce criminal activity and protect your account, we'll be making changes to our policy for cash deposits made at Wells Fargo branches.

Once our policy takes effect in a few weeks, we'll only accept cash deposits into your Wells Fargo Consumer checking or savings accounts if it is coming from an account owner or authorized signer.

What you should know
If a non-account owner needs to deposit money into your account, they can deposit a check, cashier's check or money order, or use a person-to-person payment service like Zelle^®.

All customers will need to provide identification to make cash deposits.

Wells Fargo ATM or debit card holders may use their card and their Personal Identification Number (PIN) to confirm their identity when making deposits.
Customers who do not have a Wells Fargo ATM or debit card may present a valid driver's license, state or federal government-issued ID card, passport, or other similar picture ID.

Questions?
If you have questions, please ask a banker in your branch, or call us at 1-800-869-3557, 24 hours a day, 7 days a week.

Thank you for choosing Wells Fargo.

Wells Fargo Deposit Products Group

“...over-the-counter withdrawals for as little as $1,000 are now being flagged for followup by many financial institutions.”

My (federal) credit union refuses to allow purchases of over $1200 on their card without a one-time approval by the manager, only after he contacts the seller and personally verifies the transaction. They say it’s to prevent fraud,

This came up when I was trying to use the card to pay for some surgery on one of my dogs. The truth is, both the vet and the credit union said nothing about it when I paid with a check drawn on the same account. I asked the credit union about that, and they said checks had more safeguards built into their use. I asked them about declining purchases on their cards, and they said there was “no fixed policy” on that, but that purchases were generally approved after a phone call to the seller.

It’s starting to sound like my credit union is planning on deciding what I can buy with my money using their card.