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Free Money From ATM - is it really free?

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    #62
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    parsi wrote: »
    Always found it strange (and possibly unbalanced and unfair) that when the bank may a mistake and overpay they can sequester the funds immediately but where the bank "make a mistake" and you're overcharged you can whistle for the funds until they're good and ready.
    It depends on the error. In the case of undercharging you, chances are that the banks has already spent some time investigating before the customer hears of it. Whereas with a customer claiming to have been overcharged, it might be the first the bank has heard of it, therefore need to investigate (not only the specifics of the claim, but also to ensure that the claim isn't fraudulent). They can't just hand out cash to any old person who walks in off the street claiming to have been overcharged.


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    #63
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    dotsman wrote: »
    OK, very simple.

    Condescension or sarcasm? I can't quite make up my mind.
    dotsman wrote: »
    When the money is taken from the customer's account, IF they do not have insufficient funds, then they go into an unauthorised Overdraft. They end up paying surcharge interest and/or penalty fees (for any DD/SO's that are missed due to insufficient funds).

    See, this is the problem I have with your stance and you've finally gone into enough detail about it so that I can haul you up on it.

    You are making the huge leap that the customer has ignored correspondence, buried their head in the sand and allowed themselves to go into an unauthorised overdraft.
    dotsman wrote: »
    You are correct in stating that the bank will (or at least, should) write to the customer under these circumstances. The nature of this letter (or possibly phone call) will be that the account is being operated outside the authorised limit and needs to be rectified (Different banks will have different policies regarding these letters). Failure to rectify the account will result in the account being moved into arrears management.

    Again, you're making assumptions that the person has ignored everything and also doesn't have enough in the account to cover the over-dispensing.
    dotsman wrote: »
    I'm not saying that receiving too much money from an ATM results in the account necessarily going into arrears. I was just saying that, should there be insufficient funds in the account to cover the extra amount, the customer is embarking on the road that leads to arrears.

    Good, I think I'm getting somewhere with you.
    dotsman wrote: »
    Unless your just being pedantic with the word "arrears" - in that the word technically only applies to missed repayments (ie on a loan, and not an overdraft). However, failure to rectify an unauthorised overdraft leads to a demand for repayment, and thus arrears, should the customer non-comply.

    I'm not, just hauling you up on using the term.

    dotsman wrote: »
    Correct, but checking the journal should identify everyone who received incorrect amounts. More often than not, the theft will be discovered.

    And even when it isn't - there's Karma:)

    Whaddya know, banks aren't all powerful, all seeing entities that see everything. I'm glad to see you finally admit that it may not be discovered.

    Look at the situation they're in now, they didn't have clairvoyance enough to see that, did they? :pac:


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    #64
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    kaiser sauze wrote: »
    Condescension or sarcasm? I can't quite make up my mind.
    Well, let's just say it's not sarcasm!


    kaiser sauze wrote: »
    See, this is the problem I have with your stance and you've finally gone into enough detail about it so that I can haul you up on it.

    You are making the huge leap that the customer has ignored correspondence, buried their head in the sand and allowed themselves to go into an unauthorised overdraft.
    But I never stated that they definitely would! I was saying that that is what lay at the end of the road if they were to follow the advice being given by certain posters here.


    kaiser sauze wrote: »
    Again, you're making assumptions that the person has ignored everything and also doesn't have enough in the account to cover the over-dispensing.
    As above. For me, the most likely thing to happen is that the full money comes out of their account and life moves on. But if they don't have sufficient funds and if they try to close their account etc as some people were advising, then this is how it would end up.


    kaiser sauze wrote: »
    Good, I think I'm getting somewhere with you.
    I'm not that sort of guy. sorry:)

    kaiser sauze wrote: »
    I'm not, just hauling you up on using the term.
    Pedantic


    kaiser sauze wrote: »
    Whaddya know, banks aren't all powerful, all seeing entities that see everything. I'm glad to see you finally admit that it may not be discovered.

    Look at the situation they're in now, they didn't have clairvoyance enough to see that, did they? :pac:
    Never said they were!


    OK, I've answered all your queries. Can you answer just one of mine? Are you encouraging a person (be it th OP or any other person who reads this and might end up in the same situation as the OP) to steal money?


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    #65
    daveirl
    Closed Accounts Posts: 14,483 ✭✭✭✭daveirl


    This post has been deleted.


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    #66
    BankMan
    Closed Accounts Posts: 143 ✭✭BankMan


    Dotsman you seem to be determined to bring this down to mudslinging level. I didn't attack you, I tried to correct your statements. As my name suggests, I require no explanation regarding banking issues.

    I must congratulate you on your condescension though - it's so delicious I could eat it without salt. :cool:

    In the unlikely event that you realise you need to get a life, feel free to ask someone to explain to you what to do with it etc.


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    #67
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    BankMan wrote: »
    Dotsman you seem to be determined to bring this down to mudslinging level. I didn't attack you, I tried to correct your statements.

    Really???
    BankMan wrote: »
    Dotsman, your talking ****e.
    BankMan wrote: »
    In the unlikely event that you realise you need to get a life, feel free to ask someone to explain to you what to do with it etc.

    Now, that's some correcting:rolleyes:

    BankMan wrote: »
    As my name suggests, I require no explanation regarding banking issues.
    One doesn't require a degree, numerous IBI certifications, and many year's banking experience to pick a username.

    Welcome to the ignore list buddy (you're the first person I've ever had to do this for!)


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    #68
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    kaiser sauze wrote: »
    You are making the large assumption that this will be found out.

    I would'nt be under the impression that it wouldn't TBH.


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    #69
    KillerShamrock
    Registered Users Posts: 1,393 ✭✭✭KillerShamrock


    Hmm think this thread has gone well off course and maybe be heading to a flaming war mods should close it i think.


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    #70
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Indeed. Play nice people.


This discussion has been closed.
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