If you can pull money out of almost any ATM why can you not deposit money into almost any ATM?
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You need extra hardware and software to have a machine that is capable of accepting cash. It’s not done because it’s simply not necessary.
The point of an ATM is for people to be able to conveniently access their cash at any time at multiple locations throughout the city.
You often need cash. You pretty much never need to deposit cash at a random place at a random time. When’s the last time you thought to yourself “*oh shit, I’ve got $100 extra in my wallet, better deposit it quickly*”?
Someone from the bank goes through and runs those deposit envelopes by hand in the morning. They are only running it for their bank.
Source: they got mad at me when I stopped including deposit slip and just relied on the machine record.
I think people gave covered it already but basically if it’s not directly attached to a bank, someone is contracted out to collect the cash.
If every ATM accepted deposits then someone would have to count how many deposits there were and to what bank, and then distribute it back to them. It would be a nightmare and not worth the effort
I do have a true story about cash deposits through. I used to work for an IT service desk for a bank and was part of the small team that dealt with ATM issues
The ATM’S were really old and the ones that took deposits, the person had to use an envelope and put the cash in there because it didn’t take notes directly
Many people would just put their money into the chute and it would end up loose in ATM for the bank to find the next day
I remember I had one call because the branch couldn’t find $20 that was deposited this was and they suspected it had gone into a space where they can’t reach, so wanted me to log a call with the ATM vendor
I did as they asked and IIRC It was about $240 for a call out if it wasn’t an actual fault. I’m surprised the bank just didn’t write off $20 from the till
Ok, let’s assume you are talking about just bank Atms that have depositors and dispensers. Some banks/ credit unions will allow you to deposit in thier atms even thocyou are not a member. It has everything to do who processes the atm rather than the institution. Also if that location is part of a alliance of atms on the same networks. For the most part, Bank atms generally don’t allow due to liability to your account. That is why you can’t deposit anywhere and generally your own bank.
Guess we can’t have it all, huh? Can’t wait for the day when I can make it rain at my local ATM.
I don’t know about ATMs, but at my work the self check outs that take cash have entirely seperate mechanisms for accepting and dispensing cash. So if you were making a lot of ATMs it would save a lot of money not having to fit a second mechanism inside to accept cash.
You can! Here in Australia you can deposit into any ATM. It did away with the Night Safes. You set up the deposit, it spits out an envelope, you put your cash or cheque in the envelope, put it in the slot, and it prints out a receipt of the deposit. You just don’t ditch the receipt! Works fine.
I haven’t seen people talking about the trust issue. When you request money, you actually get the money. There would be a paper trail with your bank of the withdrawal, but if there isn’t, bank error in your favor!
With a deposit into a random ATM, they said they deposited the funds into your bank, but phony ATMs could just horde your cash and not put the funds into your account. Bank error costs you! Lose a turn!
Honestly, i think it’s just government regulations. In Japan, almost every ATM in convinience stores can be used to deposit cash.
In Germany many banks have ATMs where you can deposit cash to your account. Since burgulars broke into our house we use that service at our bank “Sparkasse” everytime we received bigger amounts of cash like money gifts on christmas or birthdays etc. So we don’t have much cash at home.
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