Shoots, I meant to toss that in the garbage can ... sorry to be a litterbug.

My friend's grandfather has an account like that. He is about 82, and bit neurotic. Having lived through the depression, and then been moderately affluent, he hoards money... but not in a wise way. Last I heard, he had $600k in a savings account, and his family was trying to convince him to put it somewhere safer.

The thought that it was someone hoarding money or who doesn't trust investments also crossed my mind. It's probably true, though it falls under the "truth is not as much fun as made-up scenarios" category.

But I also wondered if someone with that financial philosophy or lack thereof would be apt to use an ATM at all, let alone the very public one at Cub Foods. 

Stereotyping, yes, but it seems to me that someone who is very frugal or cautious with their money would be more likely to go to a teller during banking hours and withdraw cash there. And they certainly wouldn't leave their ATM receipt sitting out there for all to see - would they?

Could this be from a business account?

Office space...

Maybe it's the account for some local organization?

@Haley: regarding "not fully insured..." that's not entirely true.  From the FDIC website (http://www.fdic.gov/deposit/deposits/insured/basics.html), "The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category."  So if it's a joint checking account with two people on it, it's insured to $500k.

It also may be an interest-bearing checking account, i.e. a money market account.

BC... I stand corrected.  I was not thinking it was a joint account, but it certainly could be.

Actually on the FDIC thing for the time being it is insured up to 250,000 or 350,000 I can't remember which it was one of the bailout reform things that are still in effect for a number of years. Though the odds of a bank going down so hard that the new takeover bank or government wouldn't pay back 300,000 k is pretty low. It is still a risk. Still better than burying in the back yard and who knows if that is this person's life savings or if they have other investments.... hard to say.  (also on the whole foods or Mount Royal thing, maybe they are more spendy but those that shop there might be one reason they don't have a bank account like that) not sure if those places are more expensive or not. But that was one great thing I read in Millionaire next Door was millionaires tend not to look like Millionaires.

Ethan - I agree...nevertheless, groceries are a bit pricier at Whole Foods and Mount Royal. It's worth it, though.

I frequent Whole Foods and see a lot of ATM receipts. 
Most are for under $300.

Absolutely - it's worth shopping around to find the best deal.  Still - the coop is relatively reliable and a safe bet.  We've gotten stuff from the coop that was out-of-date (though they readily let us return it) - but I just think the general philosophy of the coop as a business trumps a place like Cub, which is more about making a buck than providing a service to the community.  It's not always about getting the absolute cheapest price, though that can obviously make a big difference in the long run.  The coop makes a point a supporting the community and doing it's best to provide "real" food at a reasonable cost, even if it's not always bottom buck.  They aren't Wall Mart, thank god (even though I'm agnostic).

wells fargo penalizes you if you move $ around from various accounts too many times in a 1 year time frame. they shut my savings down for it. it has to do with the rico act if i recall. something about $ laundering.

Can only hope they took the three hundred bucks to Cashwise and loaded up the trunk.

Just a point on FDIC insurance. The next time you are at the bank, look at the sign. It says "...up to $250,000..." which is very important. The words UP TO lends itself to an individual to think, "If I have $100K in my checking, it's insured." Incorrect, UP TO $100k is insured. A run on a bank happens rarely (S&L in the 80's, Great Depression, etc..). Banks pay based on solvency - their ability to pay it "all at once".  Check with your local institution and ask the President, "If everyone that has an account here today came in and asked for all their money, how much would you be able to pay?". On average, in the great 'ole USA, the solvency rates for banks is less than 2%. So giddee up folks, dump up to $250,000 in. What do banks do with your money? Invest. Some people just choose to skip the middle man.

Andy is correct, but it's not about the FDIC specifically.

Banks only have to keep 1/10th of their deposits available for withdrawal. That means yes, if there is a bank run - people are concerned about free cash, and everyone goes to try to withdraw it at once - you're not getting your money.

And it's true, the FDIC is no guarantee that you'll get it if the bank folds, either. But then they'll always print more, don't worry...

New York Post: "ATM receipt showing astounding $100M balance left at Hamptons bank"