Yeah, it's not a shortage. It's bank policy to mitigate the risk of bank runs. What bothered me was the 24hr (or 48 hr in my case) notice requirement. That day I learned that my money is only actually mine (in the sense that I can use it as I please) if the bank decides to allow me.
As time goes on, those dollar maximums and notice periods are malleable and completely outside my control.
> That day I learned that my money is only actually mine (in the sense that I can use it as I please) if the bank decides to allow me.
It’s possible that the kind of account you have with that bank plays a role here. There has been a lot of deregulation over the last 10 years or something, but it used to be that your account had a descriptive name - passbook savings, demand deposit, etc. And those names meant something! A demand account meant you could demand your money any time you wanted, but it was against the law to earn interest. A passbook savings account earned interest, but you were limited in how often you could take money out, etc.
As time goes on, those dollar maximums and notice periods are malleable and completely outside my control.