Stressful bank error
By dorannmwin
@dorannmwin (36392)
United States
October 11, 2012 9:30pm CST
On Monday I went to deposit my husband's paycheck at the bank because he gets paid on Mondays and our account was slightly overdrawn during the weekend, so I wanted to get the money into the bank as soon as possible. I didn't realize that the bank wasn't open on Monday because of Columbus Day. So, I deposited his check through the ATM machine. On my receipt, it said that the funds would be posted to our account on 10/09/12 upon verification. So, I get home on Tuesday and check the bank (as I do several times a day). Our deposit that had been pending was not showing at all and our bank had put a $90.00 overdraft fee on our account as well.
On Wednesday morning, we were on the phone with the bank as soon as they opened. They were prompt in getting the deposit in. The machine was due for an audit and they had to manually enter everything and it wasn't slated to be done until Wednesday. So, my stress came to an end.
Have you ever experienced a bank error? If you have, did your bank promptly deal with the error? If you haven't, what would you do if you were to see that your bank had made an error that was negatively impacting you?
2 people like this
18 responses
@sishy7 (27166)
• Australia
12 Oct 12
One time I noticed through online banking a deposit into my account that I know nothing about. I called my bank to find out and they told me there will be a fee charged to my account if I want that deposit to be investigated. I did not want to be charged and decided to just leave the unknown deposit there untouched. Few days later the bank notified me that they have made an error and that deposit was reversed. I was thinking to myself then; what if I had withdrawn that deposit and my account was overdrawn when they reversed their deposit error? I'm sure the bank would have still charged me the overdraft fee... 
@dorannmwin (36392)
• United States
13 Oct 12
Of course the bank would have charged you overdraft fees if you had taken the money out of your account. The reason that I say that is because I see that banks will charge you fees where ever and whenever they can, but they are seldom willing to admit to their own mistakes.
1 person likes this
@lampar (7584)
• United States
13 Oct 12
Error did happen most of the time for account holder if he deposited money order or check during holiday season, sometime he may think the bank is open for business, or only close for a day, but it turn out that is not the case, they may only open half day or go on vacation for a week, then it will lead to account overdraft by the depositor assuming that his account had been credited two day later minus the close holiday. It is a faulty assumption happen quite often to most people unless they call the bank up and check on their business schedule. 
@lampar (7584)
• United States
16 Oct 12
Then in your case, it can't be your error, if the receipt stated clearly the fund is available on and after the stated date. Unless the bank has a different interpretation on its own ATM message which we know is quite often the case whenever transaction is done through machine or online, bank always has a different version of explanation on receipt you have in hand.
@dorannmwin (36392)
• United States
17 Oct 12
That is exactly my thought. Don't put into writing what you don't believe to be the truth. It was an honest mistake on the bank's part and they were quick to correct it and for that I am very thankful.
@dorannmwin (36392)
• United States
16 Oct 12
I honestly would have been able to chalk this mistake up to being my own error had it not been for the fact that the deposit receipt that I got said that the funds would be available on 10/9/12.
@dawnald (85137)
• Shingle Springs, California
15 Oct 12
Don't think I"ve ever had to deal with a bank error, other than them returning a check that they shouldn't have, but that would definitely stress me.
@dorannmwin (36392)
• United States
16 Oct 12
It definitely did stress me out. Had it not been for the fact that the bank quickly corrected their error, I believe that I would have ended up having a full blown panic attack.
@allknowing (153544)
• India
13 Oct 12
So far so good. That's the advantage of living in a small town. One is treated with care be it a bank,a grocer, an electrician, and even a doctor.
@dorannmwin (36392)
• United States
16 Oct 12
I can't say that we really live in a small town, however, my husband and I do choose to use smaller businesses because we both feel like we get much better customer service that way.
@camomile07 (1420)
• Germany
12 Oct 12
As I remember, I never had a similar problem with my bank, but what's is the fact that the banks are very fast (too fast in my opinian) to charge fees for everything, even for no money on an account or for not beeing able to pay a bill at time.
@dorannmwin (36392)
• United States
13 Oct 12
That is definitely how they make money.
Well, we bank with a small local bank and where many of the larger banks will charge you for everything, our bank doesn't have a tendency of doing this. In addition to that, they have caught things that would never be caught if we were banking with one of the giant banks.
@911Ricki (13588)
• Canada
17 Oct 12
$90 fee that is ridiculous. Yes, I have had some small errors, but they fixed them right away leaving them apologizing. My sister even 8 months down the road trying to get it fixed. I hope this error didnt cause you anymore issues, or any issues in the future (it's gone for good).
@dorannmwin (36392)
• United States
17 Oct 12
It is gone for good and for that I am quite thankful. I really do feel blessed that we do work with a very reasonable bank. Where it is a community bank, they do tend to treat their customers like they are part of the family.
@jillhill (37353)
• United States
14 Oct 12
It was a long time ago. I deposited my check in the drive up..for reasons unknown to me the check was not credited to my account and I had a big overdraft....I called the bank and closed my account and they returned my check. It had been left in the drive up and never even deposited...they did take off the overdraft charges...but it was embarassing!
@dorannmwin (36392)
• United States
16 Oct 12
I believe that what is worse is that there are times that we will think that there is money in the bank and then when we go to use our debit cards to make a purchase we find out that the money that we thought we had deposited was never properly credited and we get denied at the store. Talk about embarrassing.
@dorannmwin (36392)
• United States
16 Oct 12
I really don't know if that is the case with all banks, but I definitely have seen that this is the case with the bank that my husband and I use. For that I'm very thankful.
@lelin1123 (15594)
• Puerto Rico
14 Oct 12
I had a problem with my bank last year. I had an account in New Mexico where I had lived for three years. I didn't close the account when I moved to Puerto Rico because I knew I would be going back within 5 months. When I returned from my trip from New Mexico I still hadn't closed the account. There was very little money in the account maybe 7 dollars. Well a magazine company decided to renew my magazine account without asking me first and used this account to take the money. Well I then received a overdraft notice in the mail of owing over 35 dollars. I was so upset I sent the bank an email explaining the whole situation and they fix the problem and then upon my request closed my account.
@dorannmwin (36392)
• United States
16 Oct 12
The problems with automatic withdrawals does seem to be one of the biggest issues that most people will have with banks. There will be something that they have set up for automatic transactions and those don't always get cancelled when a checking account is closed or goes inactive.
@marguicha (230351)
• Chile
13 Oct 12
You were lucky to check your account. I bet there are lot of people that lose money because of those kinds of mistakes. THere should be a way to deal with them there, but it seems that the Banks are not interested. I have had my share of banking problems and I have set things right, but the Bank did not pay me for my time
. I`m glad it all turned out well for you
. I`m glad it all turned out well for you@dorannmwin (36392)
• United States
16 Oct 12
I've always known that there was a reason that I am so very anal with keeping an eye on our checking account. This isn't the first time that there has been a mistake, but it was the first time that there was a mistake of that magnitude.
They've always been really good about correcting their errors though.
@ravisivan (14082)
• India
12 Oct 12
For me reverse happened. Post office was crediting wrongly every month nearly Rs.5000 more. Totally rs.1.20 lakh was there more than my eligible balance. I had to walk more than three /four times to two three post offices to get things sorted out. now the matter is settled. this is due to computer error. one error means always error.
@dorannmwin (36392)
• United States
13 Oct 12
Hey, I would never complain if there was extra money that was to show up to me. However, I am an honest person and I would have to say that I would have done exactly the same thing that you have done in your situation.
@bluespygirl (2112)
• Philippines
12 Oct 12
I had a stressful bank error too!!!
This happened just a few days ago. I went to an ATM machine in the mall to withdraw. Unfortunately, I didn't know that there is a maximum withdrawal limit only per transaction. My ATM / account was different from the regular savings account so I thought my account has bigger withdrawal limit. I keep on typing my wanted withdrawal and then my pin was blocked just for the day because I exceed the limit. and it says that I can't withdraw within the day. Good thing that my bank is there so I went there to have an over the counter transaction.
Before they allowed me to withdraw, they told me that I had already that I had just withdrawn the 25,000pesos limit per transaction. I felt nauseous because I didnt punch those numbers and I didnt withdrawn that. I was withrawing 45,000, not 25,000.
I have to wait five working days for them to settle that. I was so afraid that it will not o back. I didnt really withdrawn that. I wish it will be settled. My husband might think that I had withdrawn the money. And besides, most moneys there are for our motorcycle dealer. I still feel scared
@dorannmwin (36392)
• United States
13 Oct 12
I think that we are all apt to make mistakes like this from time to time. I know that I've made mistakes like the one that you have mentioned here in the past and it is just something that I've had to deal with. Most of the time I am able to put the money right back in when I've over withdrawn. However, there are other times that I will just hold on to the cash instead of using the ATM for a while.
@echoforever (5180)
• United States
13 Oct 12
That would be one big over draft fee! I would be like that picture with my jaw dropped and panicking had i seen that. I am glad the bank worked with you quickly and you got it resolved. Still I would not like to see that statement. @dorannmwin (36392)
• United States
16 Oct 12
Oh, I definitely didn't like seeing it. I thought that I was going to have a panic attack right then and there.
@Tongcv (172)
• China
12 Oct 12
I have not encountered; I had a look at the story:one through ATM withdrawals,swallow tens of thousands of pieces,call customer service,customer service,said:"To three working days to resolve."Man can not be reconciled,the results for the other way,or playing just a phone call saying ATM multi-spit two thousand,customer service felt after five minutes to
@dorannmwin (36392)
• United States
13 Oct 12
That wouldn't be a good experience to have either. I have to admit that there are times that I am afraid of using the ATM, but for the most part, we really have never had any kind of a problem with using the ATM machines that are owned by the bank that we use.
@Hatley (163772)
• Garden Grove, California
12 Oct 12
hi dorannmwin I had the unhappy time of depositingv a christmas difte of 100 dollars a nd only getting credited for ten. and had to call an 800 number. I got a snippy woman who said with a sner so you want to file a bank error and I told her yes b ut c onnect me with another person. I got a very kind man who help;ed me to fill out the paper work and I did get m y ninety dollars returned tp my account in four weeks. lol .,
.,@dorannmwin (36392)
• United States
13 Oct 12
I consider our family to be very lucky to be banking with the local bank that we are using. They seem to know their customers and they have not only corrected this error promptly, they have also caught checks that have been forged as well and instead of cashing them, they will actually call us and verify the check before cashing them.
@bjc66bjc (6730)
• United States
12 Oct 12
Fortunately I have never been confronted with that bank error,
Thank God..so I really don't know how I would react if that
happens to me...I am pretty friendly with the bank tellers
so I would not anticipate any stressful moments..
Not I may be wrong, hey you never know....
@dorannmwin (36392)
• United States
13 Oct 12
My husband has a very good relationship with the tellers at the bank as well. It stressed me out when I saw it because of the time of day I was afraid that there was no way that they would reverse the overdraft fees. However, they did it and had it all taken care of within two hours of the time that the bank opened.
@Raine38 (12387)
• United States
12 Oct 12
Good thing I haven't experienced any banking error that caused me major stress, because I'm the type who gets too worried and anxious about things like this. There is just one incident with my credit card which their agent misrepresented the terms and even if I didn't agree, they start charging my card monthly of the insurance fee. This went on for 3 months and they charged me for 3 months' worth of fees. Good thing my bank reversed it.
@dorannmwin (36392)
• United States
13 Oct 12
I am most definitely a worrier and that is probably the main reason that this had me so very down. Thankfully, the bank was fast to correct their error and that is something that makes me very happy to be banking with the bank that we are using.
@baddkabee (115)
• Singapore
12 Oct 12
My experience is that my ATM was eaten by the machine so I had to request for its retrieval. I was informed of the date and time to retrieve it. When I got my ATM, I was surprised so see many other ATMs on their care pending retrieval, presumably got eaten by their machine too!
@dorannmwin (36392)
• United States
13 Oct 12
It actually is quite surprising to learn that this is something that does happen far more often than we are aware of. Another with ATM cards that I've heard about recently is that one of the larger local banks in our area had an error happen that deactivated the majority of their customer's ATM cards. This was something that led to a lot of discontent.
