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I'm a Taxi Driver, I drive at night and it's mostly Pubers and Clubers that I carry. So every Note is checked with one of those Special Pens.
Today, when I used the Auto-teller to do my bi-weekly Pay-in, it told me that one of the Notes was Fraudulent and that it was retaining it.
Now, either I had a faulty Pen, or the Auto-teller was faulty. Either way, I needed to know.
Initially the Bank were unwilling to allow me to examine the Note, giving a number of reasons. However, I persisted and a little over 10 minutes later, a bloke came round the corner, presented his apologies and said that the Note was not a Fake and here it was. Thank you very much, he said, but occasionally, if a Note had become damp, the Auto-teller considered that it was fraudulent
Now forgive me for saying this but, had I not stood my ground, would I have seen that £20.00 again. I ha'e me dooots!
I once had a problem with an ATM outside Asda. I made two attempts to obtain money, and on each occasion the machine issued a printed-out statement, but no money. Asda didn't want to know, so I took it up with the bank, a short time later.
After making a few checks the bank was aware as to what had happened, and my account had not actually been debited.Thinking that you might be £200.00 down, brought on a few sweats that day.
Speaking to my daughter who works in a well known high street bank, she told me that in the last 24 hours the ATM outside the front door of said bank had dispensed £43,000.
I didn't know they held that much!
and occasionally it will make a mistake. It shouldn't happen but it does, although it makes far fewer mistakes than human beings.
The ATMs work on a cassette system - the notes are prepacked into the cassettes, and how much goes in depends on the note values.
A cassette might hold 2500 banknotes, so if they're £20 notes there will be £50,000 available to dispense.
Not all machines are filled to capacity, it depends on the insurance cover.
those Special Pens can be fooled with a certain hairspray applied to the notes.
I suppose if the note is damp then the machine thinks you have just made it ;))
I was in HSBC the other day and someone had inserted a slightly creased cheque which jammed the machine so someone had to open it up to remove the cheque.
Now that was a seriously complex machine with many belts and scanners and printers. I really can't imagine that a wall full of those machines is any cheaper than a counter full of staff, and they're definitely no quicker...
I have many reasons for not trusting these machines (or at times others around them), this is yet another to add to my list.
And I am sure the FE and some of you will tell me I'm wrong - well if I am I'm on the safe side of wrong.
ATM's have been in use for many years, and are extremely reliable - far more reliable than humans.
On average we withdraw £20 million in cash from ATMs every hour of every day in the UK. That means billions of transactions a year, and almost all of them go without a hitch.
The banks' automated systems process around 1.5 million transactions every hour, and almost all of them are trouble-free as well.
The human elements in the banking system are by far the least reliable links in tha chain. I vitually never enter a bank branch - all my banking is via the internet and ATMs all over the UK, Europe and beyond. I can't remember when there was last an error of any description.
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