Someone Found My ATM Receipt & Blogged About It. I’m So Embarrased!

Just Kidding. But really– who keeps that much money in a savings account! And $2.75 for an ATM fee – hot damn! One of the commenters on the Gawker post said the owner probably made that $2.75 in interest while standing at the ATM machine. Another commenter did the math:

Smartpig.com offers 0.50% APR for balances over $50,000, so let’s use that rate.
At $100mil, he makes $500,000 a year in interest alone. And, thanks to Rent, I know there are 525,600 minutes in a year.
So he makes $0.95 a minute. So long as his ATM transaction took longer than 2:54, then yes.
He DOES make back that much in interest. 😦

It seems this receipt belongs to billionaire hedge fund manager, David Tepper. Good for you, David!

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One response

  1. I think it’s not a real one , you are right people with that much money invests himself will not let the bank use ( i.e invest) his money and pay him less than 1% interst rate and have to pay tax on the interest, beside the FDIC insurance will not cover that much he should have more than one bank and deposit money to the Suisse banks !!!

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