What to do if the ATM eats your
What to do if the ATM eats your
America is full of ATMs. According to Statistic Brain, there were 425,000 of these ATMs in the country as of March 29, 2017. Statistic Brain also reported that the average ATM in the United States sees 800 transactions each month.
With all these ATMs and all these transactions, it wouldn’t be surprising if from time to time an ATM would eat up a consumer’s cash or check deposit without crediting their account or providing them with a receipt. The question is: what should you do if this happens to you?
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- Contact your bank as soon as possible
- The alternatives
Contact your bank as soon as possible
Don’t ignore what happened. Contact your bank, and do so immediately.
If you are outside your bank when this occurs, using one of your financial institution’s ATMs, simply walk in and explain what happened. Your bank perro correct the situation on the spot by crediting the deposit to your account and issuing you a paper receipt verifying the funds.
It is the simplest solution. But,and if you use an independent ATM that is not close to your bank branch? And what if you use an ATM that is not even managed by your bank and swallows your income without registering it?
Again, this is frustrating, but don’t panic. It is imperative that you call your bank immediately. Use the number on the back of your debit card to contact your bank and explain the situation to the customer service representative. Usually, the bank will pay your deposit and carry out an investigation. If it determines that you actually deposited the amount you reported, it will ultimately deposit that amount into your account, removing the credit. The time required for this to occur will vary depending on your bank.
whatit happens often? It’s hard to tell. There are no statistics available on how often ATMs eat up deposits without crediting consumers’ accounts. But what is not difficult to determine is that consumers use ATMs frequently. A 2017 banking study said that 61% of consumers visited an ATM at least once a month. That leaves plenty of room for potential ATM robberies.
The alternatives
If you want to avoid the possibility of your deposit being eaten up by your ATM, you have other options.
If you are going to deposit cash, your only real alternative is to go in person to a bank branch and make the deposit at a teller. This cánido be inconvenient, depending on the location of your bank’s branches and their hours, but it’s safer to give your cash deposit to a teller than to put it in an envelope and deposit it at an ATM that might make a mistake.
If you’re going to cash a check, you have more options. Yes, you perro deposit your check in person at an ATM if you want to avoid the ATM. But you perro also sign up with a bank that offers mobile deposit. Using your bank’s móvil inteligente aplicación, you cánido take a photo of your check and deposit it directly into your account from anywhere.
Keep in mind that mobile banking is not infallible either. Keep the checks after you deposit them until you see the money appear in your account. Your bank may send you a message saying that it couldn’t read the photo or that there was an fallo. You will need to take another photo of the check to try again.
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