Banking Nightmare

by recovering 13 Replies latest social current

  • Snoozy
    Snoozy

    I used to do ATM's and they keep pretty good records. They have a computer printout of what you entered and the machine would be out of balance by that amount later when they reconcile it is an error by the human or the machine happens.

    But as far as just feeding cash into an ATM..I don't think I would trust it that much. I will however put it in a envelope to depoit in the ATM.

    I have to say that the banks have a policy of two people must be present when they process the ATM envelopes..but truth be told sometimes it gets too busy and someone gets called away for a few minutes. Now I think other companies do the ATM's so the security should be better.

    Next time don't write a check before you deposit, it's illegal. Funds must be on deposit for 24 hours before you are supposed to spend it..

    Better to be late on a payment.

    Snoozy

    ps..I worked at US bank which used to be Mercantile and a whole bunch of other Savings and loans and banks they gobbled up. You wouldn't believe where we used to find money that the machine went haywire and spit out. We found 20's all bunched up in the rollers, on the floor inside the ATM itself, The customer was usually reimbursed on his word if the amount wasn't too large. We also had camera's to match up the transaction we could pull but that took time. We usually gave the customer a courtesy deposit until the mistake was settled.

    Some people got wise that they could deposit an empty envelope and get up to three hundred back depending on their account status..if they were caught doing that twice they lost their card privledges and couldn't get another one with any bank for a year! Banks know all the tricks..and sometimes innocent customers suffer because of it.

  • cognizant dissident
    cognizant dissident

    My accounting professor told us of a bank in BC where the two employees who were supposed to count the money from the ATM together were in collusion to skim money off a few deposits a day and then send error notices to the customers involved saying they did not put the full amount of the money in the envelopes (which sometimes does happen for real.)

    The way they got caught is that it was a small town and all the business and personal customers know each other. They were talking with each other about how often this happens with each other and got suspicious because the errors were always against them. In an end of the year audit, with normal human error, the number of counting errors in favor of a customer and against a customer should probably be close to even, just due to probability statistics.

    So they took their concerns to the bank manager, who installed hidden cameras in the counting room and caught the two employees red-handed. Not very bright really. I think the hidden cameras are probably standard now.

  • cameo-d
    cameo-d

    Gives the term "One arm Bandit" a new meaning.

    Why would you put that amount of $$ in a machine???? Why would you even consider it?

    As many times as I have put $$ in vending machines for drinks or snacks and lost the $$....well, that has taught me a lesson. And if you try to get your $$ back from vending machine---ha! good luck. There is never anyone around to complain to. And if there is, they pass the buck; they are not responsible.

    Why would you even deal with Bank of America considering what they did to the poor people of Argentina?

    I had a BoA account once. I closed it and about 3 months later got a bill that I owed them money in service charges. They had been using a famous trick of theirs to bamboozle their stock holders. They leave a penny in the account when you close it. That way, your name will still appear on their rolls as an account holder and it beefs up the stats for the shareholders.

  • blondie
    blondie

    I worked in a bank for many years, even set up their ATM system (years ago). But I have never used an ATM. Too many problems.

    I would suggest shopping around for a new bank...ever thought of joining a credit union?

    I would think of how much effort and research we put into buying a car; do the same with a financial institution.

    Your experience convinces me to continue avoiding ATMs.

    Blondie

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