Just read an interesting story about a CIBC ATM in Moncton, New Brunsick that was giving ATM users Canadian Tire money. Four customers got the "funny money".
"The machine spat out 11 Canadian Tire bills in denominations ranging from 10 cents to $2".
Can you imagine!!!!
Doesn't surprise me one bit. They are too busy harrassing CMTers, Willyers and WHIBers to check for counterfeit bills, Canadian Tire Money or truly defaced bills. I've heard of two cases in November alone where a bank machine dispensed counterfeit money and the bank had no explanation for their customers except to seize the bills at the customers expense.
That is not fair. Then it should be seized at the banks expense :(
LOSS FALLS ON LAST PERSON WHO HAD IT … I GUESS THAT BRINGS TRUE MEANING … "TO PASS THE BUCK".
Where did you read that? I've not seen it in the newspapers here, although that is the kind of thing the local papers like to draw attention to. Moncton is less than two hours drive from here (Fredericton) and shopping trips to Moncton are very popular.
I often go to the ATM at odd hours, when the bank branch is not open. Suppose that I tried to take out $40 and the ATM gave me Canadian Tire Money instead. What are the chances of my being believed when I show up at the branch the next morning!! Still my bank balance would show the $40 deduction. This kind of talk leaves me wondering whether I want to use the ATM anymore.
Did you say a CIBC ATM? Ouch. You'd think they have enough to worry about with their fax machine scandal, without spitting McTire bucks out of their machines to boot…
(Just goes to show…The 1 and 2$ bills never really left this nation of ours, did they :D)
Money King
Lady in Barrie Ont. got counterfeit money from ATM at bank during business hours. Bank manager said too bad, so sad. Makes me wonder if the bank knows it's counterfeit money and passes it on to the customer so the bank doesn't have to take the loss??
I found the artical on my telus home page. According to the artical it was reported from CBC. The bank did reimburse the four people involved.
Their (the banks) explanation was " It clearly must have come in from some of our business customers who package up their own cash. We're still tacking down exactly what the source was"
My question is, Don't the bank teller count the money before is is loaded into the ATMs?
There was also mention of the fax problem as well.
As for your question about the after hours problem Otkau, I guess it depends on the bank. I got shorted at the ATM after hours once and they were very good about it. I had to wait until they balanced at the end of the next day but I did get reimbursed. If I was given counterfeit money at bank and they said to bad they had better look out! I can get very loud.
I think that is just a story….first of all Canadian Tire money is smaller, different colours and those ATM's are made to scan for any defaults in the money.
Otaku queried:
Where did you read that? I've not seen it in the
newspapers here, although that is the kind of thing the
local papers like to draw attention to. Moncton is less
than two hours drive from here (Fredericton) and shopping
trips to Moncton are very popular.
and pawnman suggested:
I think that is just a story….first of all Canadian
Tire money is smaller, different colours and those
ATM's are made to scan for any defaults in the money.
yeah, i'd kinda like to hear verification of this too. it smacks of urban legend but i'd be pleased to be proved incorrect. did some google-ing on the key words in the story and came up empty. i also searched cbc's site with no results. it's a lttle suspicious coming on the heels of the fax thing.
i deal almost exclusively with bank machines and the only error that i've ever encountered was in my favour. i've found them far less fallible than human tellers… friendlier, too! :)
Doesn't a security company load the machines with containers of bills that the bank purchases or something like that and not the bank itself load the machines?? I thought i heard that somewhere but maybe its just rumor!
I thought until now as well that the money goes through a person, that would notice if there is Canadian Tire Money in between, before it gets loaded into the machine. So far lucky, my money was always right and good that I got.
Here is the story. It was in the National Post today also.
http://www.canada.com/vancouver/vancouversun/news/story.html?id=3bccc80a-ee7f-4a67-8a83-4f6b04a3ebd4
and:
http://www.canada.com/search/story.html?id=68bac5f0-3977-40e9-9deb-8011b0dcdf91
Thank you Idjit. I wasn't sure how to post the actual story.
Back in 86 I was shorted by the ATM and had to wait until the end of the month, to see if they were short!! I didn't think that was fair but they didn't care. It was the Nova Scotia my husband used my bank card on our joint account, that was their reason for waiting 3 weeks!! ( He should have used his own card!!!)
I don't trust ATMs. If at all possible, I will take advantage of 'cashback' when I make retail purchases. We offer it at our store, and many other retailers do too. There's nothing better than having a human count your cash out to you, and you can ask for different denominations, too.
I've seen too many people's weekends ruined because an ATM has 'eaten' their card, too. It happens with frightening regularity at some machines, and it's not because their is anything wrong with the account, but a fault with the bank or machine. usually the only recourse after it happens is to apply for a new card on Monday = no weekend = PIA!
I used to work for a company that loads the machines…I think I visited about 80% of the machines in Saskatoon as of the time I quit in 2002.
The machines DO NOT scan for faulty bills. The banks are suppossed to purge their money of faulty and damaged bills before passing them on to us to load. The machines do reject some bills that don't pick up too well, but they can't tell the difference in size between a Cdn Tire bill and real money.
This was just CIBC being careless, again!
…..PIA?????
I would have used PITA!!!
Pain in the a*s!
Ahhhhh…..
I sent an e-mail to snopes.com — an urban legend site. they sometimes reply, if there is any truth to this RUMOR/STORY they will look into it. will let you know if they reply to me.
YES it happened to me, I used my card at a nova scotia(not my branch) on a friday evening, it ate my card-I went back to the bank on Monday morning and they informed me that all cards eaten by an atm are destroyed and I had to go back to my branch to get a new card.no cash-no card for the weekend…plus the crap of driving around to get a new card.
Frank
Once I forgot my card… must've been concentrating on the money. I had to wait to get a new one so it was handy having another account and card at another bank that I could use in the meantime.
Like Joycer, I forgot my card one time while in a hurry to get my money and go. Later that day, when I discovered my card was missing, I went back to the (still open) bank. I was issued a new temporary card right away (with a different card number),they canceled the old card, and a while later they mailed me a card with my name on it.
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