Jump to content

Welcome to bargainshare
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!

Photo

Is it safe to deposit cash in an ATM?


  • Please log in to reply
21 replies to this topic

#1
ebytes

ebytes

    Member™

  • Members
  • PipPipPipPipPip
  • 6,949 posts
  • 0 thanks
  • Joined 25-September 04
I have some cash to deposit into an ATM. Have any of you ever had any discrepancies when verifying your account balance thereafter?

Edited by ebytes, 20 February 2007 - 06:48 AM.




#2
WingsOverVA

WingsOverVA

    Licensed Pilot & Resident Bird Brain

  • Moderator
  • 11,048 posts
  • 1 thanks
  • Joined 28-December 02
I do it to deposit cash to my NetBank account but it is done at my credit union, a rather small institution with relatively few employees and I have never had a problem. When depositing cash at a major bank, like the sucky Wachovia, I always do it at the counter or the drive through with a live teller.
To Frank Lynn Sikes 1958-2008

#3
wmspringer

wmspringer

    Platinum Member

  • Members
  • PipPipPipPipPip
  • 7,484 posts
  • 0 thanks
  • Joined 19-October 04
I never deposit at an atm....just not comfortable with it, because what recourse do you have if something goes wrong? I'd rather spend a few minutes in line to see my deposit processed and get a receipt. 'course, I almost never deposit CASH anyway...I generally deposit checks and withdraw cash :p
If I've saved you money, please consider sponsoring a child!  You can make a difference today!
Why Dogs Make You Healthy (humor) 

#4
qwex

qwex

    Gold Member

  • Members
  • PipPipPipPip
  • 2,631 posts
  • 0 thanks
  • Joined 23-December 02
I stopped doing this a while ago. it's not as convenient making deposits with a teller, but I feel more comfortable this way, even though I've heard that it's no more useful if your deposit is lost. still, I don't know what happens inside an atm when I insert an envelope of checks, so why not eliminate the possibility of mechanical error?

#5
wheel

wheel

    Gold Member

  • Members
  • PipPipPipPip
  • 2,578 posts
  • 1 thanks
  • Joined 31-January 03
I used to feel weird about doing it, but got over it. Now I regularly do it, and have never had a problem with any deposit.

#6
garsh

garsh

    Captain Obvious

  • Moderator
  • 14,279 posts
  • 0 thanks
  • Joined 05-February 03
I do it. I did have a discrepancy one time - apparently, I missed a $20. So I ended up depositing $20 more than I thought I did, and had to pay a small fee for getting the amount wrong.
"I have always wished that my computer would be as easy to use as my telephone. My wish has come true. I no longer know how to use my telephone." - Bjarne Stroustrup

#7
mydeal

mydeal

    Gold Member

  • Members
  • PipPipPipPip
  • 2,678 posts
  • 0 thanks
  • Joined 21-February 03

I do it. I did have a discrepancy one time - apparently, I missed a $20. So I ended up depositing $20 more than I thought I did, and had to pay a small fee for getting the amount wrong.

small = $20? -hiding-

#8
garsh

garsh

    Captain Obvious

  • Moderator
  • 14,279 posts
  • 0 thanks
  • Joined 05-February 03

small = $20? -hiding-

Surprisingly, no.
"I have always wished that my computer would be as easy to use as my telephone. My wish has come true. I no longer know how to use my telephone." - Bjarne Stroustrup

#9
HarleyD

HarleyD

    Resident Biker

  • Members
  • PipPipPipPipPip
  • 11,803 posts
  • 0 thanks
  • Joined 07-February 03
I do it all the time and never had a problem.
Pocket Kings are Ace magnets.

How much deeper would the ocean be without sponges?

#10
ebytes

ebytes

    Member™

  • Members
  • PipPipPipPipPip
  • 6,949 posts
  • 0 thanks
  • Joined 25-September 04

I do it. I did have a discrepancy one time - apparently, I missed a $20. So I ended up depositing $20 more than I thought I did, and had to pay a small fee for getting the amount wrong.


What happens when you miscalculate and put a smaller amount than the amount deposited? With the HSBC online savings account, I was told I couldn't deposit my money @ the teller, so my only option was the ATM. I guess I'll deposit it in another account and electronically transfer the money over to HSBC.

#11
dewolfxy

dewolfxy

    Lowly Wolfie

  • Moderator
  • 6,388 posts
  • 0 thanks
  • Joined 11-February 03
I deposit checks at an ATM all the time, but never cash. I also only deposit at an ATM of my bank, not at any other ATMs. I feel safe depositing checks, but I would never do cash. I did get a check deposit amount wrong once (adding several checks), but they corrected it without charging me. I think that's the right thing to do with HSBC. Deposit to another account and then transfer.
Whatever is not nailed down is mine. What I can pry loose is not nailed down. - Collis P. Huntingdon

#12
BlueTDimly

BlueTDimly

    Platinum Member

  • Members
  • PipPipPipPipPip
  • 12,775 posts
  • 0 thanks
  • Joined 27-December 02
I rarely (if ever) deposit cash - this isn't because I don't trust the ATM, but simply because I rarely use cash for purchases. I always photocopy all checks before I deposit them, just in case there's a discrepancy. I've only been wrong in the deposit amount once (I entered a smaller amount than what I actually deposited), and Bank of America sent me a letter indicating what the correct amount was, along with photocopies of all the checks that I deposited (it was probably about 20 rebate checks). I wasn't charged a fee for the correction.
Who's to say / I can't do everything, well I can try... - JJ

#13
sarinne

sarinne

    Have a nice day!

  • Members
  • PipPipPipPip
  • 3,133 posts
  • 0 thanks
  • Joined 07-January 03

What happens when you miscalculate and put a smaller amount than the amount deposited? With the HSBC online savings account, I was told I couldn't deposit my money @ the teller, so my only option was the ATM. I guess I'll deposit it in another account and electronically transfer the money over to HSBC.



they adjust your total.
I forgot to put one check in the atm one day so I redeposited it and they just sent me a letter saying they recaculated my total.
If you're bored, PM me a hello. =)

#14
Waddle

Waddle

    Gold Member

  • Members
  • PipPipPipPip
  • 2,369 posts
  • 0 thanks
  • Joined 05-February 03
I do it regularly too at citibank. I was a little hesitant at first but find it very convenient now. I always make copies of the checks and date the copies so I know when I deposited them.
RIP HarleyD

#15
Warshed

Warshed

    Gold Member

  • Members
  • PipPipPipPip
  • 1,565 posts
  • 0 thanks
  • Joined 05-October 06
I never do it, because I am just not used to doing it, but I have in the past with no problems. You have to understand that there are cameras in the room where they take the deposits out and check them. If you report cash missing from a deposit, they check the cameras to see if an employee pocketed the money. If they find no reason to suspect an employee then your SOL and you have to bite the bullet and assume its your error. I think it would be relatively safe to deposit cash at ATM's to tell you the truth.

#16
JDMnAR

JDMnAR

    Gold Member

  • Members
  • PipPipPipPip
  • 3,113 posts
  • 0 thanks
  • Joined 05-February 03
I don't make deposits at ATMs - cash or otherwise - simply because my bank has enough branches and the hours are adequate (7a - 7p M-F, 9a-1p Sat) where it is never a problem for me to handle my business with a teller.
Why yes Intel, I DO want a world of entertainment in my lap, thanks for asking!

#17
maestro

maestro

    High Density

  • Members
  • PipPipPipPip
  • 3,114 posts
  • 0 thanks
  • Joined 13-February 03
I always deposit at ATM. I hate to wait for the teller. So far I have no problem except few times I calculate wrong for totak checks. BoFA will send the copy of deposit checks if any error occurs.
RIP HarleyD 1958-2008.

#18
efreeman1980

efreeman1980

    Silver Member

  • Members
  • PipPipPip
  • 190 posts
  • 0 thanks
  • Joined 28-November 06
It's safe, two people verify the amount in the deposit. The only problem is if you deposit cash at the ATM, sometimes it doesn't show up in your account for a few days and you lose a small amount of interest on the money rather than having it immidatly show up in your account when you deposit at the bank.

#19
dewolfxy

dewolfxy

    Lowly Wolfie

  • Moderator
  • 6,388 posts
  • 0 thanks
  • Joined 11-February 03
At my bank, my deposit amount shows up and starts earning interest immediately.
Whatever is not nailed down is mine. What I can pry loose is not nailed down. - Collis P. Huntingdon

#20
Miranda

Miranda

    ô¿ô

  • Members
  • PipPipPipPipPip
  • 7,632 posts
  • 0 thanks
  • Joined 02-February 03
I deposit checks all the time at an ATM. Once in a while I'll also use it to deposit some cash (when I have some to deposit) and I've never had any problems at all.

#21
ungsunghero

ungsunghero

    Gold Member

  • Members
  • PipPipPipPip
  • 4,726 posts
  • 0 thanks
  • Joined 05-February 03
I deposit cash all the time in an ATM; in fact, I rarely make deposits at a teller. The only time I will actually go up to a teller is when I'm depositing a large amount of money (four figures or more). To avoid discrepancies, I always use an adding calculator to add up my checks + cash, and bring the printout with me when I make the deposit at the ATM.

#22
TheDiggler

TheDiggler

    ***

  • Members
  • PipPipPipPip
  • 3,750 posts
  • 0 thanks
  • Joined 19-April 03

To avoid discrepancies, I always use an adding calculator to add up my checks + cash, and bring the printout with me when I make the deposit at the ATM.

Bingo. I don't think I've ever deposited CASH into an ATM; however, I deposit checks frequently. When I do, I include a printout from a spreadsheet which contains two columns:
1) Check Number (as listed on the check)
2) Check Amount
At the bottom of the list is the total deposit amount.

Unless I make a data entry typo while populating my spreadsheet, the amount I'm depositing gets automatically calculated by the spreadsheet. By including the CHECK NUMBER in the sheet itself, bank employees who handle my ATM deposits are aware that I've kept detailed records of what I deposited, so they are less likely to pull any tricks. ;)

If you want to provide a similar spreadsheet of CASH, I guess you can make one with the following two columns:
1) Bill Serial # (or last x digits of s/n)
2) Bill Amount (i.e. $1, $2, $5, $10, $20, $50, or $100 bill)

Edited by TheDiggler, 20 February 2007 - 02:39 PM.





0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users