ATM deposits must be discrete from withdrawals, why?
August 18, 2011 6:07 PM   Subscribe

Why is it that when I make a deposit to my bank, using an ATM, it must be a separate transaction from any other transactions?

Tonight I went to deposit a check at my bank. I swiped my card, entered my PIN and then proceeded to deposit the check. As soon as I had finished my deposit, it asked if I wanted additional deposits. I didn't. It then logged me out. I had swipe my card and log in again to make a withdrawal.

Why is this?

My current bank is HSBC, but I remember it being the same way for other banks I've had accounts with in the past.
posted by sciencegeek to Work & Money (15 answers total) 1 user marked this as a favorite
 
My bank is PNC, and it doesn't do this. So I don't think that it "must" be that way. That's just what HSBC has chosen to do.
posted by decathecting at 6:11 PM on August 18, 2011


I haven't experienced this at Wachovia or Wells Fargo. I think it's just your bank.
posted by duien at 6:15 PM on August 18, 2011


Question rephrased:

Why would a bank choose to do it this way?
posted by sciencegeek at 6:18 PM on August 18, 2011


Most likely, it simply didn't occur to them that anyone might want to make a withdrawal in the same transaction as a deposit.
posted by jacalata at 6:19 PM on August 18, 2011 [1 favorite]


So that you can't walk away and allow the next person to withdraw money from your account?
posted by unreasonable at 6:23 PM on August 18, 2011 [1 favorite]


They do this so that there's a stopgap if you just walk away after your deposit, to keep someone else from pressing the button offering more transactions. Chase does this too -- they ask for your PIN a second time. This way people won't just hang out at busy ATM's waiting for someone who's in a hurry or on the phone to come along and leave their account open..
posted by hermitosis at 6:47 PM on August 18, 2011


BofA does it too. Security precaution.
posted by JohnnyGunn at 6:50 PM on August 18, 2011


Capitol One bank just upgraded the atms in my area with this feature.
posted by JujuB at 6:56 PM on August 18, 2011


What unreasonable said. When you switch to do a withdrawal they'll want to scan the card and have you enter the PIN again to make sure it is you. This is a feature, not a bug.
posted by birdherder at 7:43 PM on August 18, 2011 [2 favorites]


Security feature, for sure. Especially if the ATM doesn't keep the card during the transaction, this keeps someone from casually walking away and the next person to the ATM taking advantage of an open transaction.
posted by xingcat at 8:21 PM on August 18, 2011


BofA does it too.

I wonder if this varies by BofA location. I deposit checks/cash quite often at my local BofA ATMs, and it always lets me deposit and withdraw in the same transaction. The ATMs I use hold onto the card rather than a swipe, though, and only release it when you say your transaction is complete (or when you get your withdrawal on a "Quick Cash" transaction, but that doesn't include deposits).
posted by JenMarie at 9:58 PM on August 18, 2011


JenMarie: "BofA does it too.

I wonder if this varies by BofA location. I deposit checks/cash quite often at my local BofA ATMs, and it always lets me deposit and withdraw in the same transaction. The ATMs I use hold onto the card rather than a swipe, though, and only release it when you say your transaction is complete (or when you get your withdrawal on a "Quick Cash" transaction, but that doesn't include deposits).
"

I am in a suburb of NY. I swipe card and put it in pocket. Having to reswipe is a good yet annoying thing. When I was a young teen in the mid 70's, I had a savings account at CitiBank. This was when ATMs were first introduced. A man was using the one in my branch before I did. I walked up and he was still logged in. Being a NY teenager, I decided to mess with him, but not take out any money (not sure if it would have let me without a password). I was able to move $7,000 (half his balance) from savings to a 6 month CD.

Felt guilty for years. Still do.
posted by JohnnyGunn at 10:50 PM on August 18, 2011 [1 favorite]


Thanks for the "varies by location" information as relates to it being a safety feature. I remembered having to do this for PNC when I lived in Philadelphia - perhaps the locations I used implemented early.

This still does not explain why this is true for deposits but not other kinds of transactions.
posted by sciencegeek at 4:37 AM on August 19, 2011


For the PNC locations I use, after a deposit it allows one more transaction, and that's it.
posted by inigo2 at 7:08 AM on August 19, 2011


It probably allows multiple deposits because, hey, what crook is putting money INTO a stranger's account. It re-requires a pin when you want to do a withdrawal because that's where the money is.
posted by JJtheJetPlane at 12:55 PM on August 19, 2011


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