Public Service Anouncement: Beware of Being Short Changed by NAB Deposit ATMs

Scrooge McDuck on 01/11/2019 - 21:13
Last edited 01/11/2019 - 21:13

Last night I deposited my week's earnings into my local NAB deposit ATM. I had counted it as 26 $100 notes and had them neatly lined up all squared and facing the same way in my wallet. I pulled out the wad and inserted it into the receiver. The machine took a while to count it before displaying a total of $2,500. At that point I questioned myself but thankfully I tapped the button for returning the notes. My 26 $100 notes were returned and I instead reinserted them in bundles of 10, 10 and 6.

If I hadn't been diligent, it seems I would have lost $100. What if I have been short changed before but haven't noticed!? I'm sure others have lost due to these ATMs.

What recourse would I have if I didn't receive all my money back? Would I need proof of what I inserted? Videotaping each deposit would be quite a hassle! I'm really quite unhappy with the service.

So beware of depositing cash at deposit ATMs. I thought an Australian big four bank would maintain their equipment to a high standard. I was wrong. Don't trust the technology!

Has anyone had similar experiences? My search found this: https://www.ozbargain.com.au/node/472272

Financial

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

Comments

  • John Kimble on 01/11/2019 - 23:55
    +1

    I thought you got paid in gold coins?

    But yeah, I've only used CBA ATMs for cash deposits, most of the time not that many notes so not an issue, sold 2 cars privately in the past, so on 2 occasions had over 100 x 50s…was shitting myself carrying so much cash and that the machine would miscount…but all good.

    Theoretically there should be a electronic journal and a balance done at next cash up, so it should have eventually gotten to your account…but who knows…

    • Scrooge McDuck on 02/11/2019 - 00:28
      +1

      Theoretically there should be a electronic journal and a balance done at next cash up, so it should have eventually gotten to your account…but who knows…

      Would love to hear from NAB staff. Do we have any here? This was a big disappointment because I'd been really happy with my NAB accounts before this issue.

      I wonder if it's worth calling them to report it.

      • John Kimble on 02/11/2019 - 00:33
        +2

        Yes, report it, next time you deposit your wad of cash or it happens again, probably not worth calling.

        Machine might need repair or maintenance.

        Don't work for NAB, but used to work for a company that owned, installed and maintained ATMs. I wasn't directly involved in that part of the business though.

        • Scrooge McDuck on 02/11/2019 - 02:39

          I wonder how it could verify the authenticity of the notes but miscount them. If two were stuck together surely they wouldn't pass verification. Maybe I had them lined up too well…

          • Ozpit on 02/11/2019 - 10:03
            +3

            @Scrooge McDuck: … as per your namesake, maybe you should also stop ironing them after each umpteenth time you count them before heading off to the bank.

          • Antikythera on 02/11/2019 - 15:43
            +1

            @Scrooge McDuck: not an ATM but a bill counter in hotel. if a note doesn't scan correctly it will be be put in a separate pile. so all the correctly scanned notes will be in a pile of 25 and the reject in a pile of one. when they were returned to you and recounted it must have scanned correctly.

            often the optics on our counter will need a clean and will start rejecting multiple notes at a time.

  • Kranbone on 02/11/2019 - 01:09
    +1

    Report it.

    Long story short, I deposited money into an ATM (CBA) which jammed. Rather than spit the notes back it said, error then closed itself.
    Had to wait several weeks while a "manual count" as done. In the end they credited me. I did file a complaint which was escalated.

    ….recently I also had an error (this time in my favour). Withdrew money from one bank 1000, then went into another branch to deposit money into another account. When the count was done she counted 1050 (which is odd as I only had 100's, no 50s).

  • ssquid on 02/11/2019 - 01:59
    +3

    Why aren't you putting it in your money bin?

    • Scrooge McDuck on 02/11/2019 - 02:31

      I don't know what gold is doing but the Nasdaq has had a great year!

  • p1 ama on 02/11/2019 - 01:59
    +2

    This happened to me before, but I didn't notice, contacted the bank and they refunded me the correct amount within 2 weeks or so. It does look like they genuinely have records kept on these things.

    I would make the effort to count, but yeah, that's just the way the world is. Mistakes happen.

    • Scrooge McDuck on 02/11/2019 - 02:31
      +1

      Did you provide any kind of evidence?

      • p1 ama on 02/11/2019 - 02:36
        +2

        Nope, just told them what happened. They said they would investigate.

  • DeafMutePretender on 02/11/2019 - 02:48
    +1

    What makes more sense/logical?

    1) OzBargainers hate rich people
    2) OzBargainers love rich people

  • GoldenDragon888 on 02/11/2019 - 06:32
    +1

    Who still gets paid cash pay packet?

    • [Deactivated] on 02/11/2019 - 07:51
      +1

      And in 26 x $100 notes haha

      • FutureTech on 02/11/2019 - 08:41
        +8

        I always withdraw my salary in cash every time I'm paid, take a photo of the roll of $100s for insta and redeposit them, but that's just me

    • ssquid on 02/11/2019 - 22:47

      Drug dealers.
      Sex workers.
      CIs.
      Illegal aliens/non-working-visa backpackers.

    • adante on 03/11/2019 - 17:25

      some tradies

  • [Deactivated] on 02/11/2019 - 07:21
    +1

    Yeah this has been happening for a while. That's why I usually take it to the counter or no more than 8 notes at a time if they are $50 notes.

    I don't know whether it gets deposited into the next persons account or if it just disappears into the aether.

  • burningrage on 02/11/2019 - 07:55
    +1

    It happened to me too. Coins deposited not the same as counted but unfortunately, the ATM then became stuck and out of order.

    Had to wait a few days to get the money in.

  • ihbh on 02/11/2019 - 08:05

    Scrooge, what would your state of mind be if the machine returned $2500?

    Catch you at a meetup.

    • Scrooge McDuck on 02/11/2019 - 08:21

      Scrooge, what would your state of mind be if the machine returned $2500?

      I'd be on the warpath. I probably would've fronted up to the branch yesterday and had some stern words for the manager.

      That's another reason I posted this thread, to be better prepared in case that happens in future.

  • WaterMark on 02/11/2019 - 08:20
    +8

    Maybe it’s the new method of ATO to take their tax portion from those who earn “cash-in-hand”. Hahaha.

    • Scrooge McDuck on 02/11/2019 - 08:47

      Apparently they would like to see the $100 phased out and there won't be an updated note like the other denominations. $20 is still coming.

      Until crypto is more widely adopted, cash is still king in my industry. Even the $100 note is too small. Between my folded wad of hundos, bank cards, opal cards, RFID tags, condoms, gift cards and ID cards; my wallet forms a bulge in my pants to rival the other one.

      There is still a niche in the market for issuing reliable higher denomination notes. If a business could issue $500 and $1,000 with the trust of the market, they could make billions from a fractional reserve! Casino chips could fill the void, but the $500 was abolished in Sydney due to counterfeiting. $1,000 and $5,000 are useful.

  • wyrmy on 02/11/2019 - 08:40
    +1

    Happened to me after the deposit was accepted. I was second guessing myself thinking I counted wrong but I called the bank, raised the discrepancy and they said they will investigate.
    After 2 days I got an SMS saying the difference was deposited back into my account.
    Was pretty easy but unfortunate it happened in the first place.

    • Scrooge McDuck on 02/11/2019 - 08:54
      +1

      I'm really concerned by how many other reports are here so far! And I'd heard nothing of it previously…

      Is that royal commission still running?

      • capslock janitor on 03/11/2019 - 15:46
        +1

        Happened to my colleague who banks with NAB.
        He was calling NAB throughout the whole day.
        Then was sacked months later…

  • padman on 02/11/2019 - 09:03

    You should have insisted on getting paid in gold coins.

  • THICKnSLOW on 02/11/2019 - 09:06

    Some things you can only trust another human being to do competently.

    • Scrooge McDuck on 02/11/2019 - 09:11

      I wish I shared your faith in humanity!

      • THICKnSLOW on 02/11/2019 - 13:15

        I've had only one instance where the bank teller counted missing one bank note ( the missing one was in my wallet) in my entire life, so yeah I have faith in my bank tellers. That was a few years ago they counted by hand, now they use machines :(

  • gimme on 02/11/2019 - 09:08
    +2

    It's not NAB thing, it's an ATM thing. Happened to me with ANZ. Bottom line ypu ALWAYS need to be diligent.
    I unfortunately 2nd guessed myself and long story short, initially the branch didn't refund me as they're investigation allegedly showed that the ATM spat out the excess 100 after I left and the next person just grabbed it. I did get it back by making an official complaint.

  • diddy50 on 02/11/2019 - 09:14

    Ohhhh where do I sign up to this +$10,000 a month cash job??

  • Dr Cheapo on 02/11/2019 - 10:16
    +4

    Yes absolutely correct op
    Happened to me multiple times through NAB's smart deposit ATMs
    I am now very careful and split it into 10's

    When i informed the bank teller about this she said upon the atm asking your confirmation it would deposit the right amount anyway… I do not believe this for a second

    Thanks for the PSA op

    Btw I'm beginning to dislike what alot of this community is about. This bloke is trying to warn us about a common fault that would affect people day to day, and alot of comments are picking apart his story referring to his weekly earnings in jealously. There is no need for this

  • bobbieb on 02/11/2019 - 10:36
    +2

    I had a similar experience with a CBA deposit ATM, so it would seem that not just the NAB ATMs are susceptible to this particular error.

    I my case, I ended up having to chase the Branch to get the situation remedied… I inserted $1k in $50s (they had been pre-counted and bundled into lots of 10 notes with elastic bands), had the ATM ask me to verify a deposit of $850. I did the obvious thing and aborted the deposit, at which point the ATM returned only $800.

    Unfortunately, it was out-of-hours, so I had to return to the branch the next day to plead my case… thankfully the branch staff were professional and courteous, but it did take a bit of time and effort to have the money returned.

    Now, I generally try to deposits over the counter, or at a minimum use the ATM while the branch is actually open for business.

    • cnitsuj on 02/11/2019 - 11:03
      +1

      I also had a similar experience with CBA. The ATM only returns what it has counted. I provided feedback that the ATM needs a staging area and should return everything regardless of what it counts including a piece of paper. I had to lodge a dispute with the bank and it took a while to get my money back. I will only deposit over the counter from now on.

  • HeWhoKnows on 02/11/2019 - 10:55
    +1

    I have come across this a few times myself but with ANZ some years ago.

    Now I insist on over-the-counter deposits when it comes to several hundred dollars or more

  • ramb9 on 02/11/2019 - 11:33
    +2

    This happened last time to my partner. Machine counted less, but after it would've processed the 2500, it likely would have ejected $100 out.

  • drfuzzy on 02/11/2019 - 11:58
    +5

    Banks make mistakes with cash.
    As a child, I recall the day the bank teller handed my mother 2 folds of $100 bills in error. Each fold had 20 notes.
    Mum handed the cash straight back but the teller was adamant it didn't belong to the bank.
    "They must have been in your handbag", the teller said.
    It was 30 years ago and it was the State Bank of Victoria.
    The $4000 was in the old paper money.
    Later that day, mum received an frantic call to bring the notes back.

    • Antikythera on 02/11/2019 - 15:55
      -3

      As a child, I recall the day I noticed the teller would turn over the deposit slip as soon as mum handed it to them but mum only ever looked at the front of the deposit slip.

      So next time we visited the bank, while mum was filling out the deposit slip, I grabbed another deposit slip and wrote on the back "this is a robbery. give me all the cash" and then put it back with all the other deposit slips.

      Never got a frantic call from the bank though.

  • Donaldhump on 02/11/2019 - 12:54
    -1

    yeh i remember back in the 80s when my pay packet was notes. i tried to deposit my weekly income of $4000 into a teller machine, and my now ex wife took her share of 80%, really unfair

  • OzHunterNSW on 02/11/2019 - 13:04
    +3

    You contact the bank and they conduct an audit upon the machine's activity that day.

    Same occurred a few weeks back when I deposited my weekly wage. It only seemed to record $4,700 so after making enquiries the remaining $2,200 was accredited to my account

  • Love a bargain on 02/11/2019 - 13:17

    Don't people always count and know how much they're cash they're depositing before they hand the cash over to a teller or put them into a machine anyway? I mean, I'd check how much I'm giving a cashier at a shop when I'm paying, why wouldn't I do the same when I'm essentially doing the same at a bank?

    • capslock janitor on 03/11/2019 - 15:51

      Coz we're not buying anything with $2500 cash much anymore. Would use card at the retailer.

      I always count mine when topping up my Debit account.

  • mitt on 02/11/2019 - 13:35
    +1

    If a mistake was made it would come up on the ATM reconciliation. You should always know what you are depositing & if you notice a discrepancy after you have finalised, contact the bank.

    If they have a matching discrepancy that day in the reconciliation they will usually adjust it (you usually dont get to know the details, its just corrected after a few days if they confirm your story)

  • ca4cpa on 02/11/2019 - 14:36

    2600 cash (net)
    1330 tax
    3930 grosss/week

    Package to 204000
    Good on him.

    • smartazz104 on 02/11/2019 - 20:17
      +1

      Not everyone is a 9-5 drone.

      • capslock janitor on 03/11/2019 - 15:53

        I'm waiting for the day where I can cut my day to 9-12 but still earn like 9-5

  • funnysht on 02/11/2019 - 21:08
    +1

    Yeah happened to me twice

    I tried depositing 10 notes, checked counted only 9

    Overall I have used it 4 times and TWICE it happened !

    • funnysht on 02/11/2019 - 21:12

      and im not sure why it happens way more often than withddrawal (unless if it's just used notes etc)

      • funnysht on 02/11/2019 - 21:13

        also i thought they do eventually count it the next morning ? to exclude fake bills etc, may im wrong

  • Tiredman on 02/11/2019 - 21:26
    +2

    I used to work as a teller. End of the day we will usually tally the ATM machine. Either that or the next morning. If there are situations such as the one like OP's, just let the teller know. They will balance the ATM at the end of the day. Take the money out and check it against the roll. It's rare money will be unaccounted for.

    Sometimes if notes are stuck together or partially damaged etc… there will be a box inside the ATM where those notes could go. Even if you didn't notice it, or you noticed it couple of days later you are short, inform the branch anyway, they would've found the extra money inside the machine and kept it aside waiting for someone to claim it.

    • capslock janitor on 03/11/2019 - 15:54

      So if we don't catch them, then they don't investigate further and just keep it?

  • dono2 on 02/11/2019 - 21:43

    Your first mistake was depositing the weeks earnings into a bank. A true ozbarginer would have kept it in cash, asian style!

  • Gauntlet on 02/11/2019 - 22:19
    +1

    Ugh that's annoying to hear. Those coin counting machines have ripped me off more than once too. I know it seems counter productive to count the change and then use the machine but I was curious one time and it was incorrect. Has been a few times.

    • Eeples on 04/11/2019 - 23:18

      I bag up my own coins.

      It’s actually quite therapeutic.

      • apsilon on 05/11/2019 - 06:32

        So do I, it's how I know they're always wrong.

  • Craze on 02/11/2019 - 22:39
    +2

    Decided to chip in as I had a similar experience but with Westpac ATM. Had $2000 to deposit but the machine only counted $1800. I almost doubted myself but thankfully declined and re-deposit in smaller bundles.

  • lltravel on 02/11/2019 - 23:47
    -2

    nab is a shit bank anyway

    • John Kimble on 03/11/2019 - 00:16

      Please recommend a non shit bank.

  • bobwokeup on 03/11/2019 - 11:28
    +2

    Damn this has happened to me a few times. I always need to double check to make sure the machine adds it up right. Switched to ANZ and the machine gives you the money back that it can't take.

  • yamahamoto on 03/11/2019 - 11:31

    Even if you processed the transaction you can always contact the bank later. Every time they empty the ATM they do their own accounting to match the money. This is done by 3rd party company. You won’t lose your money.

    • John Kimble on 03/11/2019 - 12:06

      Sometimes bank staff do the branch attached ones

  • wog_ta on 03/11/2019 - 16:29
    +1

    Happened to me using a CBA machine. Tried to withdraw $80 and only 3×$20 notes came out. Called CBA and within 5 mins missing money was credited to my account

    Lesson is always double check.

  • Gnosh on 03/11/2019 - 16:31
    +2

    I just wanted to let everybody know that when I deposited my weekly wage (42 x $100 notes) the machine counted it correctly.

  • nikey2k27 on 03/11/2019 - 18:54

    Report it if up $100 went staff count it

  • neonlight on 03/11/2019 - 20:06

    I never deposit using machine. Never trust them. I go to counter

  • Aukay on 03/11/2019 - 21:10
    +1

    Happened to me as well with trying to deposit 20 X $50 notes at a NAB ATM. The machine counted 19, so I cancelled the transaction and luckily got the stack back. I then retried on the same machine and it correctly counted all 20 notes. I think it helps when the notes all are neatly stacked and if you avoid depositing any dog-eared notes in ATMs.

  • mjcoll123 on 04/11/2019 - 02:56

    Not an ATM error, but I once requested (over the counter) St George close a mortgage account after I sold my house and give me the balance in cash. Months later I received a new ATM card, and when I rang them to ask why they discovered there was $1,000 just sitting there. I had to go into a branch to request my money to be paid out (it took about a month for them to send a cheque) and close the account as requested. No apology whatsoever. I hate banks!

  • MementoMori on 04/11/2019 - 13:35

    Same same happens when withdrawing cash - always count.

    A friend who used to work in the Call Centre of one of the big 4 told me people would call up about this frequently.

    They'd need to send someone out to count all the notes in the machine!

    I'm sure 99%+ of the time it works fine.

  • anthony1106 on 04/11/2019 - 21:30
    +1

    Westpac Hurstville did that before as well

  • piece on 04/11/2019 - 22:06
    +1

    Same thing happened to me at a wbc cash machine today. Machine miscounted 19 x $100 when it should be 20 x. Luckily I read this post before the deposit so I was aware of the potential issue.

  • Eeples on 04/11/2019 - 23:14

    I do occasional 50s or two 50s as cardless deposits.

    Any more than that I use the human.

    Certainly, if the bank is closed, I would never consider depositing hundreds into the machine.

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