Just morbid cutiosity here, but I have a crapload of cash (approximately 45 notes) and a check to deposit, and alltogether, are pretty damn bulky. I'm wondering if there will be an issue if I put it all in one envelope, or if I should use two and make two seperate deposits?
How much can you put into an ATM envelope?
- Thread starter Thoreau
- Start date
Anubis
No Lifer
Anubis
No Lifer
the bank even fuks up also. i deposited a $1400 check and they put it in the wrong account. took them 3 weeks to get it straightned out with me calling 2x a day bitching atthem. i had NO money for 3 weeks. stupid bank
No it isn't. Banks have redundant security in their counting rooms and every penny has to be accounted for. Do you think someone is going to just put a wad of cash in their pocket and walk out at the end of the day? Or that each deposit isn't going to be checked against the deposit slip?
You must have missed the thread where the dude deposited 6, 100$ bills.. and ended up with +6.00 dollars.
ATM envelope??? is that like an ATM frame??? I guess so - you can fit 53 bytes in an ATM frame/cell!
^only networking gurus will understand this one^
^only networking gurus will understand this one^
Originally posted by: WarmAndSCSI
ATM envelope??? is that like an ATM frame??? I guess so - you can fit 53 bytes in an ATM frame/cell!
^only networking gurus will understand this one^
^and absolutely no one will find it funny. Thank you, try again.
actually no. I mean it's not strictly a human error issue (although that can be factor even if things are tripple checked). Last year I deposited a check @ a branch atm (~$400). I headed home, then realized I needed some groceries + cash so I went to a closer branch and withred 400. Lo and behold, the amount was not correctly subrtracted from my account. I waited for months expecting some notificaiton of the mistake, but it never happened. Just got lucky I guess. Mind you, this is a rinky dink grocery store bank that only services my state, so their technology is perhaps sub par. The point remains, cash is a risky thing to deposit in an atm. Stick to humans.
my ex-gfs mome worked at Bank of America, in the admin section. Always told me depositing cash is a no-no. Sometimes the people inputting the funds would just pocket the cash. Checks are safer cause you could put your account number and such on there.
My first rule is always deposit cash seperate from checks. This is because the "funds availability" policy for checks allows the bank to hold the funds for 3-5 bus. days before releasing them. Cash is made available within 1 bus. day.
My second rule is to deposit any "questionable" checks seperate from "known good" checks. Much for the same funds availability reason. I'd hate for my paycheck to be delayed because I deposited it with a $5.00 check I got from selling some junk on eBay that bounced. It may not matter, but I don't risk it.
Golden Rule-get a receipt, check it before you drive away, and hold onto it until your statement shows up.
I wouldn't worry about the cash/ATM thing. The tellers you trust at the window are the same ones that run the ATM deposits. It's not like some third party gets their hands on the deposits before they go to the bank. If anything, it's probably less likely to get screwed up/stolen, since more than one bank employee will be present when they do the ATM deposits.
My second rule is to deposit any "questionable" checks seperate from "known good" checks. Much for the same funds availability reason. I'd hate for my paycheck to be delayed because I deposited it with a $5.00 check I got from selling some junk on eBay that bounced. It may not matter, but I don't risk it.
Golden Rule-get a receipt, check it before you drive away, and hold onto it until your statement shows up.
I wouldn't worry about the cash/ATM thing. The tellers you trust at the window are the same ones that run the ATM deposits. It's not like some third party gets their hands on the deposits before they go to the bank. If anything, it's probably less likely to get screwed up/stolen, since more than one bank employee will be present when they do the ATM deposits.
I've also heard of planes crashing, but I'm not going to drive a pinto cross country just to avoid an extremely rare situation.
Personally, I've been with Wells Fargo for 4 and a half years and they have not once made a mistake with my money. The ONLY mistake they have ever made, was chaning my routing number without telling me, which caused my employer to cut me a live check instead of it going through direct deposit.
Umm... that's total inconvience. What we're talking about here is low cost - high yeild risk management.
That's your decision dood and the chances of you getting screwed are slim, but it can happen. Plus, RossMAN works AT a bank. A bank employee saying it's better to do it in person has to carry some sort of weight.
Banks have redundant security in their counting rooms and every penny has to be accounted for.
twice the thieves to steal your money. one watches the other open the envelope. the other splits it evenly and replaces your benjamins with washingtons
twice the thieves to steal your money. one watches the other open the envelope. the other splits it evenly and replaces your benjamins with washingtons
Just do several deposits. When you go to the ATM, the ATM will tell you the limit to the number of notes that you can deposit per envelope. Just make... multiple transactions. Lots of deposits. With my bank, I can make a deposit and the money is instantly credited to my account (the amount that I tell the ATM is in the envelope). Then, the next business day, the account deposit is edited to reflect the check's actual deposit amount. I don't ever screw with it, though. I don't want my bank charging me a "too stupid to deposit the same amount as on the check fee."
RossMAN
Grand Nagus
- Feb 24, 2000
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Thanks but my recommendation NOT to deposit cash into an ATM is not based on inside bank info. Actually I've never heard of a customer losing cash deposited at one of our ATM's.
However I personally just think it's a bad idea and too risky, then again I'm paranoid so that has something to do with it as well.
Checks, money orders, and cashier's checks are all monetary instruments which can be traced ... cash is currency, if your bank or the ATM guards lose that, you are FSCKERED!
Ah, I remember reading the thread. I personally deposit only checks/rebate checks at an atm.Originally posted by: Eli
You must have missed the thread where the dude deposited 6, 100$ bills.. and ended up with +6.00 dollars.
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