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#1141044 - 03/05/09 11:10 PM Lost ATM Deposit
travelgirl Offline
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Joined: Mar 2004
Posts: 223
Minnesota
I know I should know the answer to this but I'm drawing a blank (maybe it's becuse I received my Compliance Exam request letter today).

We received a call from a customer claiming he made a deposit in a Wells Fargo ATM machine two days ago but it has yet to show up here as a credit to his account. He is also stating there was a problem processing the transaction at the ATM. When it asked to insert his envelope, he did, but the machine just kept circling back..enter your envelope, enter your envelope, then it reset to the main screen. It sounds like the machine didn't recognize his deposit even though he claims to have put the envelope in (we have no reason to believe the customer is lying).

My question is this - he obviously wants his $15,000 credit - Is this something we investigate under a Reg E dispute(whereby we give provisional credit) or is it handled between our agreement with our ATM processor?

My thought it to give it a couple of days for Wells Fargo to balance their machine but he wants his $ now.

I searched for other threads and in the launch pad but couldn't find any other similar questions. I know it must be something that happens. What do we do?

The machine did not issue a receipt either.
Last edited by travelgirl; 03/05/09 11:10 PM.
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#1141066 - 03/06/09 12:31 AM Re: Lost ATM Deposit travelgirl
WonderWoman Offline
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gone fishin'
I'm wondering where he actually inserted his envelope?

We were having a similar discussion on another post regarding Night Drop Deposits.

Have him physically show you where he put the envelope. Also, see if the envelope is stuck inbetween any catches.

Also, maybe he's not seeing a credit because a hold was placed on the $15,000 item???
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#1141102 - 03/06/09 11:55 AM Re: Lost ATM Deposit WonderWoman
rlcarey Offline
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Galveston, TX
If you think he is lying, do your research and deny his claim. If this was a check deposit, he would just need to have the issuer stop payment and reissue the check.
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#1141147 - 03/06/09 01:30 PM Re: Lost ATM Deposit rlcarey
edAudit Online
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edAudit
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I can not tell you in my career how many times I found deposits in the place where the supplies of empty envelopes are found in the ATM.

I would check there first.

Good luck
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#1141171 - 03/06/09 01:52 PM Re: Lost ATM Deposit edAudit
HappyGilmore Offline
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Pulling people out of the ditc...
I'm assuming from your post that you are not with Wells but another bank, so checking the ATM with him is probably not an option. I would contact Well's ATM division to make them awaare of the claim and ask for someone to get busy balancing. Also agree with Randy that it may be easier to have the maker re-issue the check.
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#1141291 - 03/06/09 03:14 PM Re: Lost ATM Deposit HappyGilmore
travelgirl Offline
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Minnesota
Thanks everyone for the posts. No, we are not a Wells Fargo bank so checking the slot at the ATM is probably not a feasible option.

I will see if the issuer can re-issue a check first. If not we will try to Wells Fargo route - I just don't know how easily it will be to get a hold of the right "people."

In the meantime, do we owe this customer any provisional credit? If so, is it because of Reg E rules? Of course, we want to help resolve it, but do we have to go beyond that by giving credit?

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#1141347 - 03/06/09 03:39 PM Re: Lost ATM Deposit travelgirl
#Just Jay Online
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Have you considered going right to the source and just calling the branch and asking them to take a quick look, or ask them if they had any issues with the machine?

They may have the item and be just as bamboolozed as you are.
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#1141359 - 03/06/09 03:45 PM Re: Lost ATM Deposit #Just Jay
smash Offline
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Joined: May 2004
Posts: 331
Texas
My guess is exactly what EDAudit said. Think about it:

The machine says Insert Envelope and the customer puts it in the place where it says "Envelopes". The machine continues to say "Insert Envelope. Insert Envelope." It keeps waiting to be fed an envelope and then gives up, cycles out of the transaction without giving a receipt. The envelope with the check is still sitting there at the ATM in the envelope receptacle.

I would also do what Caged AG said and call the branch. Ask them to look in the envelope receptacle.

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#1141502 - 03/06/09 05:08 PM Re: Lost ATM Deposit smash
Lilly C Offline
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Joined: Dec 2004
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Sunny Florida
check to see if there any trash receptacles. I've had customers place deposits there- believe it or not-. some trash receptacles are made to look as part of the atm machines.

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#1141780 - 03/06/09 07:54 PM Re: Lost ATM Deposit Lilly C
HappyGilmore Offline
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Pulling people out of the ditc...
I don't see how you owe provisional credit; there is no receipt, there is no record of deposit, the customer has no proof a deposit was made and is missing.
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#1142013 - 03/06/09 10:45 PM Re: Lost ATM Deposit HappyGilmore
Plain Old Tom Offline
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I'd try and wrap it up before the provisional credit question even comes in to play. If you can't solve it within 10 days I'd deny it since there is no record of the deposit. That said, lean on Wells hard to figure out what happened quickly. This may be a case where dealing with the local branch staff is the most helpful.

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#1142070 - 03/07/09 05:34 AM Re: Lost ATM Deposit Plain Old Tom
omartinez1 Offline
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Northern California
I would be very leary of your customers story. Wells Fargo largely has envelope free ATM's (depending on where in the country you are in) and usually will not accept other banks deposits, the machine is programmed not to accept them (knowing this from at one time working for them and I'm still a customer). You might be able to ask a manager at the location that your customer claims to have used and they at least will let you know if they still use the envelope accepting ATM.

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#1142088 - 03/07/09 05:34 PM Re: Lost ATM Deposit omartinez1
Andy_Z Offline
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You should easily be able to wrap this up within 10 business days, making any provisional credit moot. I would also hope that someone with a $15K check would know where to put the envelope. And I also agree that fewer machines accept deposits and deposits for other banks no less.

Even if you deny the claim because no deposit was actually received, the check could be stopped and new one issued in short order.

Although it is a paper item, I would consider it a Reg E error under the OSC 11(a)2, because the customer is saying it is an error. (That also means your clock started days ago.) Please let us know how this turns out.
Last edited by Andy Z; 03/07/09 05:42 PM.
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#1143357 - 03/11/09 02:23 PM Re: Lost ATM Deposit Andy_Z
travelgirl Offline
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Minnesota
All is well. Our ops person got in touch with our ATM contact at Wells Fargo last week (we can't even request them to research through their on-line system until 5 business days have gone by so we called). Yesterday we received word from our contact that they were giving us credit due to a "machine malfunction."

I don't know if they "found" the envelope in the machine or what, but they gave us credit and indicated it was resolved. I have to assume (which is a dangerous thing to do, I know) that the deposit was located.

Thanks to everyone for their help! I wasn't too worried this one was fraud as the customer lives across town, has been a client for a long time, routinely uses the ATM for his deposits and keep an $8,000 average balance. However, the cautions everyone pointed out were good and ones we should all keep out eyes out for.

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