Tuesday, September 28, 2010
Bank Withdrawal Limits as Cultural Indicators
So, for whatever reason, my bank in Iowa has a maximum daily withdrawal limit of $300. I had to specially request that they raise it from $200, and it has still been a huge hassle every time I came to Japan. My new bank in Tokyo, by contrast, has an initial automatic withdrawal limit that, at today's exchange rate, is the equivalent of $600, and on request it can be raised to about $2400. Obviously, Japan is a much more cash-based society (I'm going to go tomorrow to pay my rent in cash), but I think it's pretty safe to also take this as an indicator of vastly, vastly different level of overall wealth between Iowa and Tokyo.