You may lose money on ATM deposit

[shrekago]

new york city,

The bank I am using is probably the biggest bank of US, and it has a great number of ATMs in nation-wide. If you choose 'No' when you are asked by its ATM whether or not you want a receipt, you may lose money.

Here is my experience. Last year, after having deposited $200 cash on an ATM of this bank, I could not find it in my account when I checked it online one day later. So I called the bank service by using the phone attaching on that ATM. The bank representative told me that an investigation would be given and $200 would be put into my account soon. It seemed that my problem had been solved.

However, 3 weeks later, I received a letter from my bank which told me that there was no error in my account and the $200 would be withdrawn. I was also required to send them a copy of my receipt to prove my report was true. Apparently, those investigators were unable to find the error and took my report as a scam. If I hadn't taken my receipt when I deposited, I would never get my money back. I had written 2 emails and 3 letters attaching with the copy of my receipt to my bank in the following 5 monthes, but I got no reply. Finally, I sent my complaint with receipt copy and bank statement (no deposit record on it) to OCC (Office of the Comptroller of the Currency) in last month. This time, my bank finally commited the existence of my deposit and paid it back to me. However, I still feel angry because in the letter they sent me lately, there was no one word about apology, but an allegation like 'We credited your account in the amount of $200. This credit is permanent,...I trust this information satisfactorily resolves this matter'.

It is true that I already get my money back, but I am worried about millions of Americans who are using the service of this bank. I think that a bank with unreliable system is just like a beverage company who is selling unsafe soda. Now I need help to disclose the problem of this bank, and let more people know the risk of choosing 'No' on its ATMs.

[averad]

So open your phone book or call a local referal service and try including a question in your posts.

[gawm]

What? Why would anyone not take a receipt? Even if you do take a receipt, the funds still have to be verified. ATMs only count money going out of the machine, it cannot count it going into the machine. Are you sure you had the correct account #'s on the envelope? I'm not doubting your story, I just think the problem might of been somewhere else along the line.

[shrekago]

Originally Posted by gawm

What? Why would anyone not take a receipt? Even if you do take a receipt, the funds still have to be verified. ATMs only count money going out of the machine, it cannot count it going into the machine. Are you sure you had the correct account #'s on the envelope? I'm not doubting your story, I just think the problem might of been somewhere else along the line.

If you are asked whether you want a receipt, that means you can choose 'No', and rely on the bank's service. The problem was that my deposit was shown on the receipt, but I cannot find it when I verified my account, and this deposit transaction was not shown in my monthly bank statement either. All my imformation on the deposit letter was printed by ATM automatically. I just swiped my card and inputed my pin, put my money in bank envelop and pushed it in slot as instructed. It is ok for banks to make some mistakes occationally, but they have to be able to find it and correct it.

[gawm]

Originally Posted by shrekago

If you are asked whether you want a receipt, that means you can choose 'No', and rely on the bank's service. The problem was that my deposit was shown on the receipt, but I cannot find it when I verified my account, and this deposit transaction was not shown in my monthly bank statement either. All my imformation on the deposit letter was printed by ATM automatically. I just swiped my card and inputed my pin, put my money in bank envelop and pushed it in slot as instructed. It is ok for banks to make some mistakes occationally, but they have to be able to find it and correct it.

What I was getting at ( I'm not saying you did this): When you make an ATM deposit, it ask you how much money you are depositing. You punch it in. Someone can punch in $600 and only put $20 in the envelope. On their receipt it will say $600. Just because they have a receipt for $600 does not mean they put $600 in. The bank still has to verify the deposit. Obviously there was a mistake somewhere, but the bank eventually corrected it. I will agree with you that a person should always get a receipt!

[averad]

Originally Posted by shrekago

I just swiped my card and inputed my pin, put my money in bank envelop and pushed it in slot as instructed.

Did you include your account information on the envelope? Did you include a deposit slip?

[shrekago]

Originally Posted by averad

Did you include your account information on the envelope? Did you include a deposit slip?

I deposited 2 times per month, and this problem had never happened before.

Actually, that was the only time I didn't check my balance after depositing, and it took me 6 monthes to solve it. I am not sure whether my bank finally found my deposit or they just tried to resolve my problem under the pressure from its supervisor, because they didn't give me any result or clue about their investigation in recent letter.

[shrekago]

Originally Posted by gawm

What I was getting at ( I'm not saying you did this): When you make an ATM deposit, it ask you how much money you are depositing. You punch it in. Someone can punch in $600 and only put $20 in the envelope. On their receipt it will say $600. Just because they have a receipt for $600 does not mean they put $600 in. The bank still has to verify the deposit. Obviously there was a mistake somewhere, but the bank eventually corrected it. I will agree with you that a person should always get a receipt!

So the only way to convince them was they found my deposit themselves. In fact, the envelop Number was on the receipt copy I sent to them.

BTW,the balance in my account was always changed right after depositing to the amount shown on my receipt .

[averad]

Originally Posted by shrekago

I deposited 2 times per month, and this problem had never happened before.

Actually, that was the only time I didn't check my balance after depositing, and it took me 6 monthes to solve it. I am not sure whether my bank finally found my deposit or they just tried to resolve my problem under the pressure from its supervisor, because they didn't give me any result or clue about their investigation in recent letter.

So I take it that_s a no. Just because something has been working doesn_t make it the best or right way to do it. From now on please include a deposit slip (get them from you check book or from the bank) and include your account number on the envelope.

And please don't respond "if thats what they want they should update their atm systems to tell me that".

Originally Posted by shrekago

the balance in my account was always changed right after depositing to the amount shown on my receipt.

That_s a gesture of trust from the bank. I bet if you go to the ATM and punch in you deposited $800 and then gave the machine some junk mail it will also credit your account.

But all my responce is an oppinion and what I have observed so thake it as you will.