Depositing money in branch.....

R.O.S.S.I

R.O.S.S.I

R.O.S.S.I

Soldato
Joined
16 Nov 2002
Posts
11,301
Location
The Moon
Well i had a £2000 in cash to put in my bank account today so I popped along on my dinner break to my Natwest branch, but the queue was HUGE for the counter so I decided to use the new deposit machines.

So I start feeding all the money in as it says and it counts it all correctly after feeding it in in 4 lots and I get my reciepts. I print a mini-statement out before I leave and notice the money hasn't been credited to my account yet.

So I think fair enough it may take a few mins to go in, so I go back to work. Just checked it again on my online banking and its still not showing.
Is this normal for this to happen, is there a delay when using the machines when paying in money? Or has something gone wrong?

Cheers
 
Maybe its not done till the money has been manually checked to prevent fraud?

Lets say for example you get hold of someone card and pin. you print out a load of good fakes, go down and pay them in and then instantly go outside and withdraw real money from another machine. Only reason i can think of really why its not instant... they dont trust their machines to spot fakes :p
 
Last time I used one of those machines (local Natwest), it was instant (as confirmed by checking the cash machine outside after leaving the bank).
 
shauncr91 said:
When I deposit cash it's instant, I imagine cheques may take longer because they have to clear with the other bank.
Click to expand...

He used cash?

I'm not sure how the machines work but over the counter the transaction should appear on your account instantly.

Don't trust online banking though, it generally updates every 24 hours iirc?
 
When you use the envelopes in the letter box then it is not instant as they only count it at the end of the day. There's no guarantee that the receipt you hold isn't just a receipt for that machine, the note counter machine may not be connected to the bank network in any way.
 
Might be due to it being a fairly large amount of cash deposited. I know when I went in with 6k in cash and tried to pay it in the woman got all funny and said she had to get her manager. It was due to me selling a car and I had to tell them all that as they are required to know for laundering purposes. I'd go in or call them up.
 
as mentioned above. I sometimes use the deposit machine at Barclays and the money doesn't clear until they've collected/counted it at the end of the day.
 
I'd never use machines for paying in hard cash, I like the human element. Too many things to go wrong! But then again, I don't like computers and robots taking away a lot of human interaction in things.
 
I wouldnt start getting worried till tomorrow morning sometimes things take a while to update, I've had some go in instantly some not come up till close of buisness and some appear the next day
 
IIRC when I went into Natwest though last month I did notice on the enevelope that I was given to pay money in it said it wouldn't clear until the money is checked at the end of that day. I proceeded to pay it in at the counter so Iknew it was in straight away.
 
Last time I did this - allbeit with a smaller amount of money - it was in at the end of the day. They told me they don't leave it overnight for security issues, but that they don't do it instantly.
 
QuickLink said:
Might be due to it being a fairly large amount of cash deposited. I know when I went in with 6k in cash and tried to pay it in the woman got all funny and said she had to get her manager. It was due to me selling a car and I had to tell them all that as they are required to know for laundering purposes. I'd go in or call them up.
Click to expand...

Im going to be moving 5k a day for a few days next week, does this mean i should ring them up before hand? I never knew they were so fussy about things like this.

Im with barclays if that makes any difference, im literally moving the money about 30 m from building society to bank. I will be able to provide evidence of where i got the money from when i head into the bank.
 
You must log in or register to reply here.
Back
Top Bottom