Possible cash withdrawal error by bank?

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atikovi
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Possible cash withdrawal error by bank?

Post by atikovi » Fri May 01, 2020 11:26 pm

This is a Capital One 360 money market account and I noticed a $1900 discrepancy between my balance and what the bank says my balance is. I have traced it back to Feb 28 2019 when I made an in branch $1000 cash withdrawal at 9:07am and another one for $900 at 9:08am according to the receipts they gave me. Here is the printout I made online,

Image

The 2 withdrawals I made being the 2nd and 3rd entries from the bottom. The identical withdrawals I DIDN'T make are at the top and the odd thing is they were recorded as happening after my interest was credited which is usually after banking hours so I couldn't have made the second pair of withdrawals. Anyone here in the banking industry that has seen something like this? I'll go into the bank tomorrow but is there anything I should or shouldn't say?

OnTrack2020
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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 6:24 am

It is now May 2nd. I am quite surprised the bank has not found that error already.

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atikovi
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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 6:35 am

This was over a year ago, and since it's to the banks benefit why would they bother?

mortfree
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Re: Possible cash withdrawal error by bank?

Post by mortfree » Sat May 02, 2020 6:36 am

You meant Feb 28, 2020, right?

Good catch on the duplicate transaction sets that are not in your favor.

Should be an easy fix

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atikovi
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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 6:37 am

I said 2019 in OP.

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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 6:56 am

atikovi wrote:
Sat May 02, 2020 6:35 am
This was over a year ago, and since it's to the banks benefit why would they bother?
Because banks need to balance their drawers. I've seen a few situations that have involved family members, not involving this amount of money though, where the bank remedies the situation the same day. If I were missing close to $2,000 out of any of any money market/checking account, I would notice it almost immediately. What happened between February 28 and March 4 of 2019 when you made the transfer? Did you not notice that account was off by almost $2k?

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 7:16 am

OnTrack2020 wrote:
Sat May 02, 2020 6:56 am
What happened between February 28 and March 4 of 2019 when you made the transfer? Did you not notice that account was off by almost $2k?
Apparently not. I have a credit card payment due every 4th that I schedule a week or 2 before and deduct from the balance right then so the bank balance rarely matches my checkbook balance. Only because of the reduced activity lately that I noticed something off.

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Re: Possible cash withdrawal error by bank?

Post by dukeblue219 » Sat May 02, 2020 7:25 am

OnTrack2020 wrote:
Sat May 02, 2020 6:56 am
atikovi wrote:
Sat May 02, 2020 6:35 am
This was over a year ago, and since it's to the banks benefit why would they bother?
Because banks need to balance their drawers.
The drawer balanced because the teller pocketed the other $1900.

No, I can't prove it. But that'd be my concern because otherwise it wouldn't have balanced. It's going to be hard to prove 15 months later if the banks records lined up from that day. You'd probably need security cam footage.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 7:29 am

Buy why would the cash withdrawal show on the ledger as having been made after the banking day ended?

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midareff
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Re: Possible cash withdrawal error by bank?

Post by midareff » Sat May 02, 2020 7:30 am

Feb 28, 2019 and today is May 2, 2020...... and you are just figuring out a $1,900 error occurred more than a year ago. If you spent 5 minutes a month to eyeball accounts from bank to credit cards this stuff would not happen.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 7:32 am

midareff wrote:
Sat May 02, 2020 7:30 am
Feb 28, 2019 and today is May 2, 2020...... and you are just figuring out a $1,900 error occurred more than a year ago. If you spent 5 minutes a month to eyeball accounts from bank to credit cards this stuff would not happen.
I repeat, I have a credit card payment due every 4th that I schedule a week or 2 before and deduct from the balance right then so the bank balance rarely matches my checkbook balance. Only because of the reduced activity lately that I noticed something off.

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Re: Possible cash withdrawal error by bank?

Post by galawdawg » Sat May 02, 2020 7:34 am

Generally you only have sixty (60) days from the date of the first statement where a bank error appears to report the error, otherwise, the statement is presumed correct and the bank has no legal obligation to investigate the error or take any other action. The Capital One 360 money market account disclosure has that provision as well. So if this occurred in 2019 as you indicate, absent some goodwill on the part of Capital One, this may be an expensive reminder to review financial statements for errors on a timely basis.

If this occurred in 2020 and if it has not yet been sixty (60) days since the date of the first statement where the error appeared, you should report the error by following the procedure outlined in your Capital One account disclosure.

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Re: Possible cash withdrawal error by bank?

Post by Cigarman » Sat May 02, 2020 7:52 am

One of the biggest "Gotcha's" in the banking world is how the process withdrawals and deposits.

It is my understanding that the order things show up on your statement is irrelevant.

Each night a bank processes withdrawals FIRST, then non-cash/electronic transfer deposits. So, if you have $2000 in your bank account, have withdrawals totalling $2500 for the day but deposited a check for $5000 first thing that morning, the bank would have shown you overdrawn by $500, most likely charged you overdraft fees and then deposited the $5000. Meanwhile, you are thinking your $2500 was covered by the $5000 deposit. Had you made the deposit in cash/electronically, the money automatically shows up in your account and there would be no overdraft.

In your case, again the order on the statement means nothing. What is relevant, as previously pointed out, is that you are not in the habit of checking all your accounts on a regular basis.

Banks are very particular on how things are done and there will be a trail, it just would have been much easier in April 2019 as opposed to May 2020.

Best of luck in getting your money returned.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 7:55 am

Statute of limitations is a lot longer than just 60 days anywhere in the ecountry.

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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 7:55 am

dukeblue219 wrote:
Sat May 02, 2020 7:25 am
OnTrack2020 wrote:
Sat May 02, 2020 6:56 am
atikovi wrote:
Sat May 02, 2020 6:35 am
This was over a year ago, and since it's to the banks benefit why would they bother?
Because banks need to balance their drawers.
The drawer balanced because the teller pocketed the other $1900.

No, I can't prove it. But that'd be my concern because otherwise it wouldn't have balanced. It's going to be hard to prove 15 months later if the banks records lined up from that day. You'd probably need security cam footage.
I'm not buying that the teller pocketed the money, and I'm not trying to be naive either. However, yes, OP, go the bank and explain the situation and ask how this happened--even if it is a year later. You have your original receipts. The bank should be able to track down what happened to this money. They can research this stuff. They most likely will charge you a fee to do the research. However, if they do charge you a fee and it is found to be a bank error, I would ask for the research fee money back. Please keep us posted on this---I would like to know the outcome.

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Re: Possible cash withdrawal error by bank?

Post by livesoft » Sat May 02, 2020 7:57 am

This is going to be tough to fix since the employees involved may no longer work at the bank.

I once deposited a 6-figure check in person at a teller window and interacted with a real human being. She gave me a received receipt for the deposit, but later entered it as a withdrawal. When reported the next day, the bank manager thought I was trying to pull a fast one on him. It took about 3 weeks for them to agree it was their mistake. It took an audit of the bank's daily in/out by a group outside the bank to come to that conclusion.
Last edited by livesoft on Sat May 02, 2020 8:04 am, edited 2 times in total.
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OnTrack2020
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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 7:59 am

Cigarman wrote:
Sat May 02, 2020 7:52 am
One of the biggest "Gotcha's" in the banking world is how the process withdrawals and deposits.

It is my understanding that the order things show up on your statement is irrelevant.

Each night a bank processes withdrawals FIRST, then non-cash/electronic transfer deposits. So, if you have $2000 in your bank account, have withdrawals totalling $2500 for the day but deposited a check for $5000 first thing that morning, the bank would have shown you overdrawn by $500, most likely charged you overdraft fees and then deposited the $5000. Meanwhile, you are thinking your $2500 was covered by the $5000 deposit. Had you made the deposit in cash/electronically, the money automatically shows up in your account and there would be no overdraft.

In your case, again the order on the statement means nothing. What is relevant, as previously pointed out, is that you are not in the habit of checking all your accounts on a regular basis.

Banks are very particular on how things are done and there will be a trail, it just would have been much easier in April 2019 as opposed to May 2020.

Best of luck in getting your money returned.
This is simply not true on how a bank processes withdrawals and deposits.

Honestly, there needs to be a banker in here to chime in on this situation.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 8:03 am

livesoft wrote:
Sat May 02, 2020 7:57 am
This is going to be tough to fix since the employees involve may no longer work at the bank.

I once deposited a 6-figure check in person at a teller window and interacted with a real human being. She gave me a received for the deposit, but later entered it as a withdrawal.
At this bank you give the teller a signed withdrawal slip, so they should have the two I made. I want to see the two others.

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Re: Possible cash withdrawal error by bank?

Post by galawdawg » Sat May 02, 2020 8:06 am

atikovi wrote:
Sat May 02, 2020 7:55 am
Statute of limitations is a lot longer than just 60 days anywhere in the ecountry.
And what does the statute of limitations have to do with this? The statute of limitations only prescribes the time limits for bringing a legal action in court. Do you plan to sue Capital One for this alleged error that you did not "discover" for over a year and present evidence that they owe you money? What evidence do you have that they owe you money??

IANYL.

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Re: Possible cash withdrawal error by bank?

Post by midareff » Sat May 02, 2020 8:07 am

atikovi wrote:
Sat May 02, 2020 7:32 am
midareff wrote:
Sat May 02, 2020 7:30 am
Feb 28, 2019 and today is May 2, 2020...... and you are just figuring out a $1,900 error occurred more than a year ago. If you spent 5 minutes a month to eyeball accounts from bank to credit cards this stuff would not happen.
I repeat, I have a credit card payment due every 4th that I schedule a week or 2 before and deduct from the balance right then so the bank balance rarely matches my checkbook balance. Only because of the reduced activity lately that I noticed something off.
I have credit card and other payments due at various dates from the 2nd to the 12th of the month. In all, there are generally12 debits and 6 credits occurring monthly in that time frame. All debits are on auto-pay (in full) so nothing has to be scheduled. I use a password manager which logs on to sites in seconds. I'll repeat, If you actually looked at your transactions and balances on a weekly or monthly basis it would take only a couple of minutes at most and this would not happen..... and if it did happen, you would catch it almost immediately, not need to research something that happened a year ago.

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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 8:08 am

I would also consider speaking with a supervisor or possibly going to a different branch to have this researched, not dealing with the same person who did the original transaction--if you remember who that was.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 8:09 am

Cigarman wrote:
Sat May 02, 2020 7:52 am
In your case, again the order on the statement means nothing.
That is nonsense. The second pair of cash withdrawals were clearly made AFTER the month's interest was credited which is well after the banks are closed for the day. Me AND a teller would have had to break into the bank at like 11pm to make the withdrawal for your statement to have any merit.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 8:12 am

galawdawg wrote:
Sat May 02, 2020 8:06 am
atikovi wrote:
Sat May 02, 2020 7:55 am
Statute of limitations is a lot longer than just 60 days anywhere in the ecountry.
And what does the statute of limitations have to do with this? The statute of limitations only prescribes the time limits for bringing a legal action in court. Do you plan to sue Capital One for this alleged error that you did not "discover" for over a year and present evidence that they owe you money? What evidence do you have that they owe you money??

IANYL.
You were the one that said, Generally you only have sixty (60) days from the date of the first statement where a bank error appears to report the error, otherwise, the statement is presumed correct and the bank has no legal obligation to investigate the error or take any other action. Evidence is that bank ledger showing a pair of identical cash withdrawals made when the bank couldn't possibly be open.

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Re: Possible cash withdrawal error by bank?

Post by kaneohe » Sat May 02, 2020 8:14 am

atikovi wrote:
Sat May 02, 2020 7:32 am
midareff wrote:
Sat May 02, 2020 7:30 am
Feb 28, 2019 and today is May 2, 2020...... and you are just figuring out a $1,900 error occurred more than a year ago. If you spent 5 minutes a month to eyeball accounts from bank to credit cards this stuff would not happen.
I repeat, I have a credit card payment due every 4th that I schedule a week or 2 before and deduct from the balance right then so the bank balance rarely matches my checkbook balance. Only because of the reduced activity lately that I noticed something off.
I understand the bank balance vs checkbook balance issue. I stopped recording my autopay withdrawals until they actually happen (usually similar numbers every month) so the bank and checkbook balance are usually in agreement unless I write a check and it is still outstanding. I do have to spend a few minutes several times a wk checking the bank balance and transactions but it is useful for tracking.

Even if you schedule and deduct the cc payment in your checkbook a wk or 2 in advance, shouldn't the checkbook be in balance for the other 2 or 3 wks of the month. How large are the credit card payments? One issue is that your normal balance is quite large so it is easy to see how a 2K discrepancy would be missed. Perhaps consider opening another account with lower balance where such an error would be more obvious

Good luck w/ the bank.........good question about the duplicate after entries after interest was posted. Good luck with the bank.

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Re: Possible cash withdrawal error by bank?

Post by Cigarman » Sat May 02, 2020 8:16 am

Just as an FYI, https://tribeyeo.wordpress.com/2017/03/ ... raft-fees/

So I may not have been 100% correct but banks do rearrange transactions in order to generate more fees. What shows up on your statement is not necessarily how things occur behind the curtain.

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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 8:20 am

kaneohe wrote:
Sat May 02, 2020 8:14 am
One issue is that your normal balance is quite large so it is easy to see how a 2K discrepancy would be missed. Perhaps consider opening another account with lower balance where such an error would be more obvious
Well, this account is/was paying over 2% interest so the $50 or so interest a month was nice. The credit card is the only bill I pay from this account since it can be scheduled on the day it's due and it's usually in the $2-4K range and I don't lose a days interest. I do have a regular checking account there too.

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Re: Possible cash withdrawal error by bank?

Post by galawdawg » Sat May 02, 2020 8:23 am

atikovi wrote:
Sat May 02, 2020 8:12 am
galawdawg wrote:
Sat May 02, 2020 8:06 am
atikovi wrote:
Sat May 02, 2020 7:55 am
Statute of limitations is a lot longer than just 60 days anywhere in the ecountry.
And what does the statute of limitations have to do with this? The statute of limitations only prescribes the time limits for bringing a legal action in court. Do you plan to sue Capital One for this alleged error that you did not "discover" for over a year and present evidence that they owe you money? What evidence do you have that they owe you money??

IANYL.
You were the one that said, Generally you only have sixty (60) days from the date of the first statement where a bank error appears to report the error, otherwise, the statement is presumed correct and the bank has no legal obligation to investigate the error or take any other action. Evidence is that bank ledger showing a pair of identical cash withdrawals made when the bank couldn't possibly be open.
The sixty (60) day billing error reporting period is completely different than the statute of limitations. One has to do with when you are barred from filing a legal action in court, the other has to do with when a bank is no longer required to investigate your complaint that they made a error. You are comparing apples and oranges.

And since you mentioned in a previous post (viewtopic.php?f=2&t=291781#p4777181) that you check your bank accounts every month when you are in front of your computer with your checkbook out, how did you fail to "notice" this for over fourteen months?

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Re: Possible cash withdrawal error by bank?

Post by Katietsu » Sat May 02, 2020 8:26 am

atikovi wrote:
Sat May 02, 2020 8:12 am
galawdawg wrote:
Sat May 02, 2020 8:06 am
atikovi wrote:
Sat May 02, 2020 7:55 am
Statute of limitations is a lot longer than just 60 days anywhere in the ecountry.
And what does the statute of limitations have to do with this? The statute of limitations only prescribes the time limits for bringing a legal action in court. Do you plan to sue Capital One for this alleged error that you did not "discover" for over a year and present evidence that they owe you money? What evidence do you have that they owe you money??

IANYL.
You were the one that said, Generally you only have sixty (60) days from the date of the first statement where a bank error appears to report the error, otherwise, the statement is presumed correct and the bank has no legal obligation to investigate the error or take any other action. Evidence is that bank ledger showing a pair of identical cash withdrawals made when the bank couldn't possibly be open.
Because 60 days does matter. Per FDIC:
Bank Statements. If you notice a transfer of funds from your bank account that you (or another account owner) did not authorize, you are not responsible for the lost funds as long as you notify the bank of the error within 60 days of the bank sending you a statement. If you do not notify your bank in time, then your losses may not be limited

And the fact that you schedule a credit card payment that is not processed yet does not eliminate your responsibility your ability to reconcile (“balance”) your check record with the banks.

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Re: Possible cash withdrawal error by bank?

Post by Katietsu » Sat May 02, 2020 8:29 am

Banks where I live have only designated branches that are open for walk ins due to Covid-19. Most branches require an appointment to meet with the type of employee that could help you with this. I suggest you call ahead.

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Re: Possible cash withdrawal error by bank?

Post by kaneohe » Sat May 02, 2020 8:32 am

atikovi wrote:
Sat May 02, 2020 8:20 am
kaneohe wrote:
Sat May 02, 2020 8:14 am
One issue is that your normal balance is quite large so it is easy to see how a 2K discrepancy would be missed. Perhaps consider opening another account with lower balance where such an error would be more obvious
Well, this account is/was paying over 2% interest so the $50 or so interest a month was nice. The credit card is the only bill I pay from this account since it can be scheduled on the day it's due and it's usually in the $2-4K range and I don't lose a days interest. I do have a regular checking account there too.
I did notice that nice interest rate. Would they allow you to have a 2nd account of the same type w/ a lower balance so discrepancies would be more noticeable? or is there a minimum balance to get that high interest rate?

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Re: Possible cash withdrawal error by bank?

Post by galawdawg » Sat May 02, 2020 8:37 am

kaneohe wrote:
Sat May 02, 2020 8:14 am
Perhaps consider opening another account with lower balance where such an error would be more obvious.
OP said here (viewtopic.php?f=2&t=291781#p4777023) that he already has about ten accounts. What occurred here is the risk you run when instead of reconciling bank statements promptly and looking for errors you "eyeball" the balance to see if it "looks about right". Perhaps the bank will assist OP with his complaint, on the other hand, given the current state of things, they may not. They aren't required to.

It is, IMHO, penny wise and pound foolish to spend the time and effort moving money around multiple accounts each month hoping to earn a few extra dollars in interest but then fail to spend the time to review and reconcile bank statements looking for possible errors.

Instead of all these suggestions to further complicate things and open more accounts so the balances will be lower and "maybe" an error will be more noticeable, my suggestion is simply to reconcile your bank accounts monthly.

Good luck OP.

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Re: Possible cash withdrawal error by bank?

Post by Jags4186 » Sat May 02, 2020 8:52 am

While I know some people here don't like it, this is why I use Mint. I see every transaction as they happen in all my accounts every day. I immediately notice when there's something amiss.

OP, good luck getting your money back. I suspect since it's a cash withdrawal it will be exceedingly difficult, if not impossible, to get your money back unless they have a record of a $1900 till overage from that date.

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Re: Possible cash withdrawal error by bank?

Post by kaneohe » Sat May 02, 2020 9:00 am

galawdawg wrote:
Sat May 02, 2020 8:37 am
kaneohe wrote:
Sat May 02, 2020 8:14 am
Perhaps consider opening another account with lower balance where such an error would be more obvious.
OP said here (viewtopic.php?f=2&t=291781#p4777023) that he already has about ten accounts. What occurred here is the risk you run when instead of reconciling bank statements promptly and looking for errors you "eyeball" the balance to see if it "looks about right". Perhaps the bank will assist OP with his complaint, on the other hand, given the current state of things, they may not. They aren't required to.

It is, IMHO, penny wise and pound foolish to spend the time and effort moving money around multiple accounts each month hoping to earn a few extra dollars in interest but then fail to spend the time to review and reconcile bank statements looking for possible errors.

Instead of all these suggestions to further complicate things and open more accounts so the balances will be lower and "maybe" an error will be more noticeable, my suggestion is simply to reconcile your bank accounts monthly.

Good luck OP.
completely agree w/ you but I have the feeling that the number of folks like us are who actually reconcile monthly is diminishing. It helped me greatly when I stopped recording future withdrawals in the checkbk in advance but did so only when the transaction actually occurred. That way the checkbk and bank balance are almost always the same except for the rare outstanding check. You can record expected transactions , just not so they affect the balance until they actually occur. It does require checking balances/transactions more frequently........more suited for retired folks than busy working people but still takes just a few minutes/wk.

student
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Re: Possible cash withdrawal error by bank?

Post by student » Sat May 02, 2020 9:43 am

kaneohe wrote:
Sat May 02, 2020 9:00 am
galawdawg wrote:
Sat May 02, 2020 8:37 am
kaneohe wrote:
Sat May 02, 2020 8:14 am
Perhaps consider opening another account with lower balance where such an error would be more obvious.
OP said here (viewtopic.php?f=2&t=291781#p4777023) that he already has about ten accounts. What occurred here is the risk you run when instead of reconciling bank statements promptly and looking for errors you "eyeball" the balance to see if it "looks about right". Perhaps the bank will assist OP with his complaint, on the other hand, given the current state of things, they may not. They aren't required to.

It is, IMHO, penny wise and pound foolish to spend the time and effort moving money around multiple accounts each month hoping to earn a few extra dollars in interest but then fail to spend the time to review and reconcile bank statements looking for possible errors.

Instead of all these suggestions to further complicate things and open more accounts so the balances will be lower and "maybe" an error will be more noticeable, my suggestion is simply to reconcile your bank accounts monthly.

Good luck OP.
completely agree w/ you but I have the feeling that the number of folks like us are who actually reconcile monthly is diminishing. It helped me greatly when I stopped recording future withdrawals in the checkbk in advance but did so only when the transaction actually occurred. That way the checkbk and bank balance are almost always the same except for the rare outstanding check. You can record expected transactions , just not so they affect the balance until they actually occur. It does require checking balances/transactions more frequently........more suited for retired folks than busy working people but still takes just a few minutes/wk.
Although I don't reconcile my checkbook, I do set it up so that they will email me if there is a deposit or withdrawal. This is not as good as reconciling monthly but it is quite helpful.

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Re: Possible cash withdrawal error by bank?

Post by OnTrack2020 » Sat May 02, 2020 9:48 am

Jags4186 wrote:
Sat May 02, 2020 8:52 am
While I know some people here don't like it, this is why I use Mint. I see every transaction as they happen in all my accounts every day. I immediately notice when there's something amiss.

OP, good luck getting your money back. I suspect since it's a cash withdrawal it will be exceedingly difficult, if not impossible, to get your money back unless they have a record of a $1900 till overage from that date.
When I go to our bank to get cash, I have to sign a single paper withdrawal slip which they retain. They simply do not hand me the cash without signing their slip. The OP should have them research/ask for copies of the 4 cash withdrawals slips on that day. Maybe, by chance, his bank has duplicate withdrawal slips, where they retained both slips, separated the slips, and, therefore, are showing as four withdrawals---I don't know, I'm just putting that out there as an example.

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atikovi
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Re: Possible cash withdrawal error by bank?

Post by atikovi » Sat May 02, 2020 10:28 am

OK, I went into the bank and after a few minutes, it's seems there was some glitch in my online balance that shows that double withdrawal. They ran my transaction history and it only shows one pair of withdrawals and the statement jives with my checkbook register. Why the online balance shows the second withdrawal they don't know but that I should contact the online 360 account department. Also, this is first time I knew of being able to see an actual statement online vs. the online transaction page from which I have always reconciled my checkbook. So supposedly I was never out that second withdrawal. Will call next week and see what can be done.

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Re: Possible cash withdrawal error by bank?

Post by LadyGeek » Sat May 02, 2020 9:06 pm

This thread is now in the Personal Finance (Not Investing) forum (bank error).
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Re: Possible cash withdrawal error by bank?

Post by JBTX » Sat May 02, 2020 9:19 pm

galawdawg wrote:
Sat May 02, 2020 8:37 am
kaneohe wrote:
Sat May 02, 2020 8:14 am
Perhaps consider opening another account with lower balance where such an error would be more obvious.
OP said here (viewtopic.php?f=2&t=291781#p4777023) that he already has about ten accounts. What occurred here is the risk you run when instead of reconciling bank statements promptly and looking for errors you "eyeball" the balance to see if it "looks about right". Perhaps the bank will assist OP with his complaint, on the other hand, given the current state of things, they may not. They aren't required to.

It is, IMHO, penny wise and pound foolish to spend the time and effort moving money around multiple accounts each month hoping to earn a few extra dollars in interest but then fail to spend the time to review and reconcile bank statements looking for possible errors.

Instead of all these suggestions to further complicate things and open more accounts so the balances will be lower and "maybe" an error will be more noticeable, my suggestion is simply to reconcile your bank accounts monthly.

Good luck OP.
Any time you add complexity obviously the risk of such errors comes along. I have dozens of bank accounts and credit cards through bonus chasing. For me, using Quicken is an additional step that helps me stay on top of it. I can't imagine doing this without it or some similar mechanism.

Even if I missed $2000 from such an error the net benefits of such gaming has far exceeded that.

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