(WHTM)– Most of us use ATMs to get cash, but some people — like workers who rely on tips — use ATMs to make cash deposits. One woman learned why that can be risky.
Colleen Curran recently went to her local Bank of America branch to do something she had done many times before.
I put my credit card in, to make a deposit,” Curran said.
She had cash from her job for a deposit, though this time a lot more cash than usual.
“The majority of them was $100 increments, and it was $2,220,” Curran said.
As she put it in, she claims it “literally it just kept spinning around” and then “the screen went dark, and no receipt or anything,” Curran said.
Her $2,000 was gone.
“It was scary, it was not fun,” Curran said.
Now granted, this doesn’t happen every day. Most ATMs like this will accept cash just fine. But there are some things you can do to make sure this doesn’t happen to you.
We contacted Bank of America’s corporate office where a spokeswoman promised to investigate and told us “The matter has now been resolved.” Shortly after, Curran says she was contacted by the bank, which told her they had located her cash and will restore it in the next billing cycle.
Bankrate says to think twice about depositing very large amounts of cash in an ATM and it says to avoid deposits at ATMs not owned by your bank.
Curran says she learned a lesson.
“Nobody expects a bank ATM to like, break,” Curran said.
So if you have a big deposit, make it inside the bank during business hours, and that way you don’t waste your money.
Source: Don’t Waste Your Money: Making big deposits at an ATM versus inside the bank
