Comments on: Do You Deposit Cash into the ATM?

By: Kristi

Kristi — Wed, 20 Jan 2010 21:16:42 +0000

Thank you. I found this article very helpful. You are saying, “Yes, it is safe, but mistakes do happen.” This is just what I was thinking but I just wanted some validation! Thanks again.

By: Mark

Mark — Mon, 22 Jun 2009 17:13:38 +0000

My wife had $500.00 cash to deposit last Thursday, couldn’t get to credit union until 15 min. after closing, so deposited it in the ATM at the branch. As of Saturday, hadn’t been posted so we went there to ask about it, turns out everything from the ATM goes to southern California to be processed (We’re in SanFrancisco bay area) so it will take 3 to 5 days (couldn’t get a straight answer out of them) to post! So here we are with $2.72 available while our cash goes on a road trip! This Friday (Payday) we are closing this account and going to a real bank. These people put holds on EVERYTHING so checks bounce and they charge you multiple fees while they sit on your money. Keypoint Credit Union: AVOID LIKE THE PLAGUE!

By: David

David — Sun, 05 Apr 2009 00:02:48 +0000

I deposited $470 in one of BofA’s new no-envelope ATMs in New Paltz, NY. The ATM returned $70, never credited my account and did not offer to give a receipt. I went in the branch and a teller said there were others complaining using that atm.

I had to waste time calling customer service. They gave a “temporary credit” for the $400.

For piece of mind it’s a good idea to take the funds to a teller — or use an ATM that uses envelopes (never had a problem with them)…

By: Trent

Trent — Wed, 01 Apr 2009 23:08:47 +0000

Making a cash atm deposit sounds scary, but having worked in retail, I’ve had to make deposits at the bank at the end of the day. We would count everything up, checks, cash, and no more than a few pounds of coins. Sometimes there would be thousands of dollars in cash, and we would put them in large plastic envelope bags and drop them in the huge metal deposit slots on the sides of banks. I don’t think money was ever missing because we used the same bank for years and my boss was really anal and he would have dropped them if there was any problem. i think it’s fine to use the atm but prolly not for huge amounts of cash since you still have to slide it in the envelope receiving part of the ATM.

By: Matt Black

Matt Black — Thu, 26 Feb 2009 00:44:19 +0000

Absolutely not a myth I am dealing with a situation where I added cash into the atm and it counted it and spit back $10.00 of the sum then I tried it again and a screen came up asking me to key in my deposit amount and i did, then the receipt comes and its only 300.00 deposit with some crap stating it cannot process my other funds that it counted. Great then the 300.00 post to my account and I get to file a claim and leave it up to the bank to decide if I get my money back, nice ways to rip people off reminds me of the early 80’s vending machine that took your money. bank of America is evil.

By: horror

horror — Sun, 11 Jan 2009 17:55:08 +0000

this is not an urban myth. i am dealing with this right now. It sucks and i have learned my lesson. my claim will begin processing tomorrow but even if they tell me they located the cash or it was their mistake, it still caused me tears and so far a sleepless night. for the sake of my sanity i cant even allow myself to think of what would happen otherwise.

By: bob

bob — Sat, 20 Dec 2008 09:44:19 +0000

yes

By: Joey

Joey — Tue, 30 Sep 2008 08:02:26 +0000

I just deposited $3200 cash into an ATM today. Didn’t even think twice about it. Was that really dumb?

By: BeancounterBlog.com » Blog Archive » Question of the Day: Do You Trust Your ATM?

Wed, 31 May 2006 19:00:29 +0000

[...] I was reading a funny little post over at stopbuyingcrap.com on the horror stories of depositing cash into ATMs. The author had actually worked in the check processing department where ATM deposits were processed and the funds added to your account. My point is, with all these security, precaution, screening of employee, rules and regulation—mistakes do happen. People are not perfect. While it’s less of a chance that someone will steal your money in the cash vault department than at the local branch, it DOES happen. Urban myth of deposited cash stolen from ATM? Think again. [...]

By: Cap

Cap — Mon, 29 May 2006 16:57:00 +0000

alright I’m being stupid. too much time on my hand recently.

By: Max

Max — Sun, 28 May 2006 18:38:36 +0000

I do it all the time. When the receipt comes out, I just throw it in the door pocket. So far so good.

By: Cap

Cap — Fri, 26 May 2006 23:05:44 +0000

lol well.. I looked at one of my manager when we found it, and she looked back at me and calculated how long she worked there in her head.

“Okay, this happened before I came here, so I didn’t screw this one up. hmm.”

we basically forwarded the entire bag to the error correction department (forgot exact name) for them to take care of. generally we only send forward like one or two pieces of deposits, this time we’re sending an entire bag.

I checked up on what happened days later, and I believe all the deposits were resolved years ago (of course), most people probably had to deal with the hassle of redepositing their checks or whatever.

almost all deposits have certain #s assign to them to track, so I’m sure some department knew these were missing (especially the local branch)—but they just didn’t know where the heck it is. for a large bank like Bank of America, when you deposit a check in a large metropolitan area, it travels to all these different locations. heh.

By: daniel

daniel — Fri, 26 May 2006 22:47:45 +0000

wow, what did you do with checks discovered and written years ago?