Buzz
You’re boarding up windows. You’re gathering water. You’re filling sandbags. But wait: Have you gotten cash? If you’re preparing for a hurricane, tropical storm, or any other weather event with advanced warning, don’t forget to add a trip to the bank or ATM to your checklist.
Once the storm passes, cash becomes invaluable. While businesses may open up before power is restored, having cash gives you priority, whether it’s for fuel, food, or that cold beer you’ll need to unwind when things start to settle.
Banks usually keep ATMs stocked before a major weather event, while stores offering cash-back services might limit the amount you can withdraw per transaction. During Hurricane Sandy in 2012, for example, a grocery store in Washington, D.C. reduced its cash-back limit from $200 to $50.
After the storm swept through New York City, residents in power-out areas had to walk to find working ATMs, only to find many of them empty. In the aftermath of a storm, banks often face difficulties determining which ATMs need replenishing and which areas have regained power. At the same time, armored trucks may struggle to reach neighborhoods affected by the storm that are in need of refills.
How much cash should you have on hand when a storm is approaching? A few hundred dollars will give you a solid buffer. If the storm is intense and you might need to evacuate, it’s wise to have more cash on hand. If you can afford it, try to have enough to cover a month’s worth of regular expenses. Having a mix of bills—a hundred, several $20s, plus some $10s and $5s—will make you more prepared for emergencies where you need to access your emergency fund quickly.
