Oh man! Look at what I was responding too. If you went to deposit a reasonable amount, which given your banking history, makes sense, and the ATM was stolen, you would get your money back from the bank.
Oh man! Look at what I was responding too. If you went to deposit a reasonable amount, which given your banking history, makes sense, and the ATM was stolen, you would get your money back from the bank.
You should change this thread to a poll format
Most people give a OK when they never had problem.
I would only play safe by not depositing cash at ATM.
I know the following statement is totally different, but worth some comparison.
Someone might said: I live here for many many years without going to a hospital, he/she might think that there is no need to buy health insurance. But it will hurt your wallet real bad if you take that chance. (I do not use car insurance example since you must buy it by law, but you probably do not required by law to buy health insurance in most States)
Most people give a OK when they never had problem.
I would only play safe by not depositing cash at ATM.
I know the following statement is totally different, but worth some comparison.
Someone might said: I live here for many many years without going to a hospital, he/she might think that there is no need to buy health insurance. But it will hurt your wallet real bad if you take that chance. (I do not use car insurance example since you must buy it by law, but you probably do not required by law to buy health insurance in most States)
A lot of people have been doing this for years with no problem, but I definitely see the risks, and as such I don't think I'll start doing it unless they come out with machines that you feed the money into and it counts it right there. And honestly, I don't know why they're not already all like that. Doesn't seem too difficult.
Don't all transactions get recorded in the ATM computer? I don't think anybody robs the memory storage of the ATM.... I think they can always find out what you deposited (at least the numbers you put in there)
I don't see where he gave you advice for theft. All he said was that you would get your money back because banks have insurance. Whether or not you should claim more than you deposited and prepare you for the possibility of theft was your own advice.
I was told NEVER to deposit cash into the ATM. I still do and haven't had any problems. However I only deposit cash into the ATM's at the branch not some little atm on campus or at a gas station or in a supermarket. It depends on the level of security you're willing to risk and your faith in the moral judgement of others. If it's just petty cash that's not going to have a significant impact, then just deposit it into an ATM. Chances are it won't be stolen or lost or not reported. However if you're living paycheck to paycheck and you can use every cent you can get. Then don't take any risks and go inside the bank and make the deposit in front of a live human being.
I do checks at the ATM, but then again, I don't really use hard cash anymore, execpt at Halo Burger.
Depositing cash is ok. BofA actually wrote me a letter saying that they corrected my deposit amount when I counted wrong by entering less than I actually deposited.
First, be warned that some ATM's have fees/finance charges associated with them -- especially if you are using an ATM owned by someone other than your bank.
Assuming you are using your own bank's ATM, there's nothing wrong with depositing small monetary values. If you are depositing larger amounts of money (say $100 or more), then you're safer using the bank (unless of course it gets robbed while you're in there).
But really, why not just save the money up until you have a substantial sum to deposit? That way you don't have to keep making trips to the bank....
Assuming you are using your own bank's ATM, there's nothing wrong with depositing small monetary values. If you are depositing larger amounts of money (say $100 or more), then you're safer using the bank (unless of course it gets robbed while you're in there
).But really, why not just save the money up until you have a substantial sum to deposit? That way you don't have to keep making trips to the bank....
kranky
Elite Member
- Oct 9, 1999
- 21,019
- 156
- 106
I know the risk is very low, but there have been enough stories about people who didn't get credited for the full amount of cash they deposited at an ATM to convince me not to do it.
In exchange for a 100% assurance that my cash will be credited correctly, I'm willing to drive two extra blocks then spend an extra three minutes in line for the teller. Even if I had deposited cash in ATMs for years without problems, if something got screwed up just once I would be kicking myself for not taking the extra three minutes. For me it's just not worth that tiny risk, because on the infrequent occasions I deposit cash the amount is enough to hurt me badly if something went wrong.
In exchange for a 100% assurance that my cash will be credited correctly, I'm willing to drive two extra blocks then spend an extra three minutes in line for the teller. Even if I had deposited cash in ATMs for years without problems, if something got screwed up just once I would be kicking myself for not taking the extra three minutes. For me it's just not worth that tiny risk, because on the infrequent occasions I deposit cash the amount is enough to hurt me badly if something went wrong.
That's a perfectly fine reason. It's your choice and time. However, the reason you hear stories about people not getting credit for cash deposits is most likely that people are trying to screw the banks. People have a tendency to lie, cheat and shoot an obvious angle (who says I didn?t deposit 10K?), more so than a bank or an employee being closely watched.
I also think there is a sort of "urban myth" surrounding the whole idea of ATM deposits. Depositing money to an ATM just seemed strange to people who had been interacting with a real person for all of their banking years. That's why you still have some older people who refuse to use an ATM at all, even for withdrawing money.
I think it?s all changing though. Soon, you will most likely have branches where you must deposit through an ATM. Then what are you going to do?
kranky
Elite Member
- Oct 9, 1999
- 21,019
- 156
- 106
At that point I'd probably move my primary account to my credit union. It's on my way home from work.
Credit unions and the smaller banks are much more customer oriented and I think it will be a very long time before they require deposits to be done at ATMs. It will probably come faster from the Citibanks and BofAs of the world.
They've had them in Japan for a while.
Like everything else, it takes a while for it to make it across the pacific.
actually depositing cash into ATM machines is very safe.
From what I heard from a bank employee, the security in a deposit checking room is very strict. They check the employees going in and out of the room.
From what I heard from a bank employee, the security in a deposit checking room is very strict. They check the employees going in and out of the room.
wow, welcome to the 21st century. I don't understand why anyone go to teller anymore for mundane things like deposit and withdraws.
I think the money from ATMs are counted by machines, and if there is some error, then its counted by a person. I don't think the banks want to hire a lot of people for the sole purpose of counting the billions of dollars in cash thats deposited everyday.
I think the money from ATMs are counted by machines, and if there is some error, then its counted by a person. I don't think the banks want to hire a lot of people for the sole purpose of counting the billions of dollars in cash thats deposited everyday.
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