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Now that ATMs can gobble up your checks and not even bother with an envelope, many consumers have been joyfully feeding their money into them, especially those who, like reader Frank P., have ebank accounts and thus would have to pay to deposit them with a teller. This very technology, gone awry, is the reason Frank says he’s leaving BofA forever.
He writes in to tell his tale of hungry technology, which involves an ATM that ate his checks, tried to spit them out again, couldn’t, but then did not deposit his money into his account. Which, he notes, could’ve been more troublesome if he had really needed that money in his account in a timely manner.
It's Been 5 Months That Bank Of America Refuse To Refund My Money That I Deposit To Atm And Get Lost In There. Where Should I Look For Help? I'm So Frustrated.
Yesterday, I dropped by my local ATM machine to deposit two checks. Everything seemed to be going fine until I deposited them using the new check feeder. For those who are not familiar with how the machine works, one simply deposits the checks into the ATM machine. No envelope is used and no amount is input into the ATM before the checks are deposited. The machine then scans the checks and asks the user to verify the amount. All fine and dandy if it works. Apparently there was a problem because it tried to give me back my checks. It tried some more. And then it gave up. It took my checks, gave me back my ATM card, and left me standing there confused and without a receipt. I immediately tried calling the Bank of America phone number listed on the front of the ATM, but because I was calling after hours on a Saturday, I could not reach anyone. I spent several hours Sunday trying to work things out with Bank of America on the phone. Long story short, there is nothing they can do for me until Tuesday (three days after the ATM problems). Fortunately, I did not need the money right away, but I can imagine someone needing the rent or having to pay bills going through the same thing and they would be out of luck. All Bank of America offered in return was an apology. What bothers me about the whole situation is how helpless I feel. I signed up for their eBanking program which only allows me to speak to a teller if I need something that I cannot do at the ATM. In other words, I will be charged a fee if I go inside the bank to deposit checks. I did this in order to avoid getting charged a monthly maintenance fee, but I don’t trust their ATM check deposit system any more. So basically, Bank of America took over $900 worth of checks and is holding them. I have no access to them and I have no idea if they are safely store somewhere inside of the machine. I have to wait two business days to find out if I need to call the respective check issuers and put a stop payment or just wait for things to clear up. I have been a customer with them since 1997 and it is my first checking account, but this is it, I am switching to a different bank. Any tips from the crowd for a good bank? What about online banking such as ING or Charles Schwab?Advertiser Disclosure: Many of the offers and credit cards appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all account options and credit cards available. *APY (Annual Percentage Yield). Credit score ranges are provided as guidelines only and approval is not guaranteed.
When a deposit or withdrawal is not completed, and either cash, an ATM card, or a deposit is lost, the banking customer may experience frustration, the inconvenience of not having access to funds or possibly even identity theft.
There are no statistics published for the frequency of ATM deposit malfunctions, and banks aren’t exactly proud to disclose how often these malfunctions happen.
What You Can And Can't Do At Atms
Most major bank ATMs have eliminated the use of envelopes at ATM. This transition reduced paper waste and more significantly, eliminated a common type of “empty envelope fraud” where criminals would put empty envelopes into an ATM in order to get fast access to large amounts of cash.
If you are able to get the check back, you can deposit the check at a branch location, or via mobile deposit.
If you have a smartphone on you, take pictures. If an error screen displays or a receipt prints note exactly what it says.
Bank Of America Atm
They may be able to open up the ATM and retrieve the check for you. If the ATM is not located on branch premises, call the number to your bank, and report it.
It is possible that the bank will issue a provisional credit while the incident is being investigated. It is also possible that you will be able to cancel the transaction altogether.
Once your check has left the ATM, the investigation will take longer as your bank will have to track down the check and investigate what happened.
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If the payer can provide you a new check, and put a stop payment on the old, you may not have to deal with an investigation and lack of access to the funds, for however long the investigation takes.
Ask your bank if this is advisable and/or permissible. If there is the possibility of a returned check fee if you can cancel the deposit, it may be more hassle than it is worth.
If you are unable to reach a resolution and get access to the funds you lost, you may submit a complaint online.
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You can find endless stories on the internet about ATM deposits that went terribly, terribly wrong, resulting in vanished money, vanished records of the deposit, and drawn out, dragged out investigations.
Prevent issues with deposits by taking control of your finances. Avoid putting a paper check into an ATM unless you absolutely must.
If your deposit is important, particularly if you need immediate access to your funds, consider making your deposit via an app (where you keep the paper check), or at a branch, where you immediately receive confirmation and a receipt.
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If you have had a negative experience losing a check to a defective ATM, you probably will want to avoid using ATMs for deposits in the future.
The increasingly popular method for depositing paper checks is via mobile check deposit. It is easy and free to deposit your check into your bank using your smartphone or tablet.
As described above, most major banks and credit unions now allow you to deposit checks quickly, securely and easily using their smartphone app.
Find A Chime Atm Near You
Due to its simplicity and convenience, mobile check deposit is a very popular feature, and very easy for even the most non-technical person.
You retain the check, which you can keep in a safe place in your home and eventually destroy at a later date, once a reasonable amount of time has passed after the check has been deposited.
Most banks recommend you write “deposited by mobile app” to avoid the possibility of you or someone in your household accidentally depositing the check a second time.
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Mobile deposit limits do apply to check deposit made via a smartphone. Banks put a cap to combat check fraud, so the limits do apply for this feature, whereas there isn't a limit to ATM or teller deposits.
The traditional way of bringing a check for deposit at a human teller is a foolproof way to avoid having lost check deposit.
If you receive a paper check as a regular source of funds, talk to the issuer about more convenient ways for them to pay you, or you to receive money.
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Valerie Ashton is a commercial pilot, California Real Estate Broker and writer. A life-long California resident, Valerie holds a Bachelor of Arts degree from San Diego State University and attended Thomas Jefferson School of Law.
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