Plan B Forum

Last Sunday I used the ATM at Wells Fargo to deposit 3 checks. The machine accepted them and then gave me a message that the bank is not accepting deposits today.

Then it gave me only two of the three checks back.

I figured I'd go in on Monday and claim the missing check and deposit it. I decided to call first to see if we could correct the transaction by phone and was told that they don't touch ATM deposits at the branch and I would need to call their 800 number.

I called the 800 number and was told the local teller was correct and I needed to submit a claim. The claim will take three weeks to process.

Does this make any sense to anybody?

Not me...

Then it gave me only two of the three checks back.

Consider yourself lucky, they could've taken all three checks and told you to pound salt.

Sort of. All of those cheques from all of the ATMs are going to some central clearing centre. I don't know how they are batched, but someone is going to have to do a lot of manual searching to determine which cheque is not associated with a deposit. I don't know if that should or should not take three weeks, but I can imagine that it is not going to be a quick process.

If you had contacted whoever issued the cheque first thing Monday morning, they might have been able to stop payment on the cheque and re-issue it to you faster than the time required to locate and deposit the original.

Scooter wrote: If you had contacted whoever issued the cheque first thing Monday morning, they might have been able to stop payment on the cheque and re-issue it to you faster than the time required to locate and deposit the original.

I thought of that but found out that it would cost the issuer $31.00 to stop payment. Besides, it's the bank's fault and they should fix it.

It makes no sense that the local bank can't access the ATM deposits.

You shouldn't have to wait 3 weeks for the funds.

See if the bank will waive the stop payment fee, then get a new check.

Except I'd its a $20 check, don't bother

I'm not sure of the present Scooter, but years ago I worked in the check processing (transit) department of a bank and any check which was either not part of a deposit slip or part of a deposit where the other checks were missing would be flagged within hours and the customer contacted. And processing was at the bank level, not a central processing facility as they had to record deposits and prove outcash payments at the bank; there may have been one bank that did it for all the local branches, but it would likely be local.

It's called "kiting" and every financial institutions does it for as long as they can get away with it.


I just made an electronic funds transfer which will take 2 "business" days (4 days total) while they get their hand-cranked Webley-Vickers automatic accounting machine working.


When I transfer post tax savings from my work 401k to our Bank (where we keep the other post tax savings) it takes 4 business days. I think they have to buy new hamsters to run the little wheels that make it go.




yrs,
rubato

Guinevere wrote:"...

Except I'd its a $20 check, don't bother

Stealing from the poor is good business, and helps maintain the supply.





yrs,
rubato

This is different from kiting; this is a check which was lost while in their possession that they say will take the 3 weeks to locate. Now if they cashed it and did that, they might realize a benefit, but I don't know how the bank would account for the cash from the check.

I do all my bank transations with a live teller.

I always seem to end up in the line being worked by a dead one

.

Bankers are simple souls really. Not difficult to communicate with once you understand them.




yrs,
rubato

oldr_n_wsr wrote:I do all my bank transations with a live teller.

I do that with deposits...(I went through a nightmare about a dozen years ago with a large deposited check similar to Joe's; it's amazing to me that there are people who will even deposit cash into an ATM)

I'll take money out of an ATM in a pinch, but I usually replenish my wallet cash at the check-out at our local Luckys, where I can avoid paying an ATM fee...

(I bank with US Bank and they don't have a huge number of ATMs, but they're the best bank I've ever dealt with. No comparison with the Nazis at B of A or Wells Fargo.)

rubato wrote:Bankers are simple souls really. Not difficult to communicate with once you understand them.




yrs,
rubato

Great toon!

Lord Jim wrote:

oldr_n_wsr wrote:I do all my bank transations with a live teller.

I do that with deposits...

Are you sure this post doesn't belong in Big RR's "I sneeze out dog poo" thread?

(I bank with US Bank and they don't have a huge number of ATMs, but they're the best bank I've ever dealt with. No comparison with the Nazis at B of A or Wells Fargo.)

Same here, LJ.

I've found US Bank to be far superior in customer service and friendliness.

it helps to have your govt. welfare checks direct deposited

In regards to the OP, I received this email today-

Account temporarily credited
ATM/Debit/Prepaid Card Claim Reference Number XXXXXXX
RE: Debit Card XXXX-XXXX-XXXX-XXXX

We are processing a temporary credit to your account XXXXXXXXXX. This credit is provisional until our investigation is complete.

We have sent a detailed letter by mail. Please refer to the letter for the credit amount.
To view the credit amount online, allow one business day for processing; then go to Account Activity.
Once the investigation is complete, we will notify you of the final outcome.

If you have questions, please call us at 1-877-230-8708.

Thank you for your patience in this matter.
Sincerely,

Wells Fargo ATM Operations

Big banks can multiply the smallest matter...