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  1.    #1  
    Can you deposit money in an ATM that doesnt belong to your bank and have it show up in you account?

    Just wondering.

    If you could, would you?

    I dont even use the banks ATM to deposit money (only checks). For money I go to a teller.
    Felipe
    On the road to 5,000 posts
    Life is what happens between Firmware releases.
  2. #2  
    Generally no. The major ATM networks in the US that I'm familiar with don't allow deposit transactions between banks.

    I used to work at a bank for many years. It's technically possible, but operationally, it would be extremely difficult. There could be banks somewhere that do it, but I'd be surprised.

    I also worked with ATMs early in my career, so I know not to deposit cash in one. You want cash to be counted in front of you by a teller.
  3. #3  
    I deposit cash into my atm all the time and have never had a problem (it might be that the amounts are so small that it would be difficult to miscount it. ;-)
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  4. #4  
    A buddy deposited $1,000 cash in an ATM and it came up "missing".
  5. #5  
    the only time i see cash is when i get it out of an ATM. or when I get cashback at the supermarket.
    Animo et Fide
  6. #6  
    Quote Originally Posted by PeterBrown
    the only time i see cash is when i get it out of an ATM. or when I get cashback at the supermarket.
    Yeah, you know, the only place in the world that I end up with more coin change than the UK is in Canada. Those toonies are a pain.
  7. #7  
    Quote Originally Posted by hoovs
    Yeah, you know, the only place in the world that I end up with more coin change than the UK is in Canada. Those toonies are a pain.
    Funny first time I visited the US I was amazed by the lack of coins.. everything seems to be bills.. even $1.. in the UK and the EU the smallest bill is 5 or 5Euro.. everything smaller is coins..

    In the past there was a 5Guilder note (pre Euro) but has been phased out ages ago and got replaced by a 5 Guilder coin..

    It also explains why americans carry their change loose in their pocket while europeans have a coin compartment in their wallets..
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  8. #8  
    Quote Originally Posted by ToolkiT
    Funny first time I visited the US I was amazed by the lack of coins.. everything seems to be bills.. even $1.. in the UK and the EU the smallest bill is 5 or 5Euro.. everything smaller is coins..

    In the past there was a 5Guilder note (pre Euro) but has been phased out ages ago and got replaced by a 5 Guilder coin..

    It also explains why americans carry their change loose in their pocket while europeans have a coin compartment in their wallets..
    I agree...but the other way around.

    Just curious...are the banks over there more centralized now. I remember I opened an account in Abrystyth branch of Barkley's (I think thats the right name) Bank. Then if I tried to pull any money out in let's say Malvern at the branch there, they charge me 5 pounds each time because they had to call the branch back in Abrystyth to verify the funds from one branch to the other. When I left they said they were going become more centralized, and just wondering if they did.
  9. #9  
    What's cash ? Stopped carrying any when I got my EZ-Pass. I keep a $50 bill in my credit card case.....been there almost a year. I do have to hit the cash box to be honest on rare ocassions like going to a sports event (for food vendors) but that's really it.
  10. #10  
    Quote Originally Posted by HobbesIsReal
    I agree...but the other way around.

    Just curious...are the banks over there more centralized now. I remember I opened an account in Abrystyth branch of Barkley's (I think thats the right name) Bank. Then if I tried to pull any money out in let's say Malvern at the branch there, they charge me 5 pounds each time because they had to call the branch back in Abrystyth to verify the funds from one branch to the other. When I left they said they were going become more centralized, and just wondering if they did.
    They are more centralised, you can use pretty much any ATM, only some of them charge you a fee for using them (mostly ones at petrol stations or in pubs etc)
    <IMG WIDTH="200" HEIGHT="50" SRC=http://www.visorcentral.com/images/visorcentral.gif> (ex)VisorCentral Discussion Moderator
    Do files get embarrassed when they get unzipped?
  11. #11  
    Quote Originally Posted by t2gungho
    I deposit cash into my atm all the time and have never had a problem (it might be that the amounts are so small that it would be difficult to miscount it. ;-)
    Most of the time, there won't be a problem. Problems are rare. But if there's ever a "miscount," it'll be your word against the teller's. And whether you get credited for the missing money will depend on the judgement and kindness of the branch manager and on your relationship (profitability) with the bank.

    You're essentially giving someone cash without getting a receipt. (The ATM receipt isn't really a receipt; it prints whatever number you enter and the amount is subject to verification later.)
  12. #12  
    Quote Originally Posted by samkim
    Most of the time, there won't be a problem. Problems are rare. But if there's ever a "miscount," it'll be your word against the teller's. And whether you get credited for the missing money will depend on the judgement and kindness of the branch manager and on your relationship (profitability) with the bank.

    You're essentially giving someone cash without getting a receipt. (The ATM receipt isn't really a receipt; it prints whatever number you enter and the amount is subject to verification later.)
    That's true but there really isnt an incentive for the bank to short me on a deposit. Sure, in the short term they have my cash but in the long term they would lose customers. Banking seems to have gotten much more competitive in the last 5 years or so.
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  13. #13  
    Quote Originally Posted by t2gungho
    That's true but there really isnt an incentive for the bank to short me on a deposit. Sure, in the short term they have my cash but in the long term they would lose customers. Banking seems to have gotten much more competitive in the last 5 years or so.
    When a teller steals your money, he or she isn't thinking about what's in the best interest of the bank.
  14. #14  
    Quote Originally Posted by samkim
    When a teller steals your money, he or she isn't thinking about what's in the best interest of the bank.
    I don't work at a bank so I wouldnt know for sure but I would be willing to bet that when the atm deposits are counted, there are sufficient safety measures in place to discourage that type of theft. If there werent, then there would be a lot more internal theft.

    Either way, Im not worried. I usually deposit checks and when I deposit cash, its usually not that much anyway.
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  15. #15  
    Quote Originally Posted by Felipe
    Can you deposit money in an ATM that doesnt belong to your bank and have it show up in you account?

    Just wondering.

    If you could, would you?

    I dont even use the banks ATM to deposit money (only checks). For money I go to a teller.
    You can't do this at banks, at least in California. But you can at credit unions. For a fee, I can deposit a check at a credit union near my house. It is not the credit union that I belong to. But not cash. All the deposit envelopes say "no cash". It would be at your own risk.

    Checks, I don't have a problem with. Cash goes to the "cash"ier!
    Brent
    T650 on Sprint's Wireless Wonder
  16. #16  
    Quote Originally Posted by t2gungho
    I don't work at a bank so I wouldnt know for sure but I would be willing to bet that when the atm deposits are counted, there are sufficient safety measures in place to discourage that type of theft. If there werent, then there would be a lot more internal theft.

    Either way, Im not worried. I usually deposit checks and when I deposit cash, its usually not that much anyway.
    As a management trainee, I rotated through most branch jobs including teller and teller supervisor, and I'm very familiar with the internal controls. There is "dual control" over many aspects of security including opening vaults, loading ATMs, retrieving deposit envelopes, and transferring large amounts of cash - meaning two people are supposed to watch at all times and sign accordingly. With opening deposit envelopes, there are usually two people present in the room, but it's unlikely that while one person counts the cash, the other will be watching. More likely, the other person will be processing other deposit envelopes. It's a simple cost decision. If two people are handling one deposit, your processing costs effectively double.

    Tellers can easily get away with single acts of fraud. Multiple acts would likely result in dismissal.

    As for "there would be a lot more internal theft," a lot more than what? Than you're aware of? There is! I've personally known a lot of people who have been fired for missing money or for fraud. And as a service rep, I handled countless cases of missing deposits (though the majority of them were processing errors).

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