Don’t Waste Your Money: ATM Deposit Warning

Don't Waste Your Money

Most of us use ATMs to get cash. But some people, like workers who rely on tips, use ATMs to make cash deposits. But did you ever wonder if that is risky?

Eric Morton says he’s out a bunch of cash, actually, a lot of cash after what he believes was an ATM malfunction. He says he deposited $1,300, yes more than a thousand dollars cash, into an ATM. “I hear it counting the money. As it’s processing, an error hits the screen!” Morton said.

Confused, he decided to check his account. “I then follow up, go back to the ATM, and check my account, to see maybe it’s in there. It was not in there,” Morton said. Eric owns a courier company and says he frequently deposits cash.

But when he says when he called the bank’s security department, the agent questioned whether he was telling the truth. “So I feel like I am defending myself more than you are trying to help me, I am trying to find out where my $1,300 went and no one can tell me anything,” Morton said.

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Eric says he’s not asking the bank to take him at his word. He is just asking the bank to look at the footage from the camera on, and the cameras around that ATM. “That’s all I have been asking. Check the camera footage,” Morton said.

So don’t let this happen to you. With cash, bankrite.com says to use an ATM at a physical bank, not a freestanding one, don’t deposit cash to an out of network ATM, and consider using a live teller if it’s a very large amount.

Good news, after we got involved, the bank looked at the video and determined that Eric was telling the truth. They have just put $1,300 back in his account. As always, don’t waste your money.

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