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I deposited a few hundred bucks into my TB the other day, no envelope, no slip nothing, just into the ATM it goes, it even counts it for you so you dont have to write in the amount. It was awesome.
It doesn't work that smooth for large amounts. ATMs have both withdrawal limits and deposit limits on cash.
Chase has one of the most "liberal" policies, and even they limit ATM deposits to 60 bills (so only $6K if all bills are $100). ATM withdrawals are usually pretty small in all banks, usually about $1K daily withdrawal limit. If you start dealing with larger non-trivial amounts you have to go to a teller.
It doesn't work that smooth for large amounts. ATMs have both withdrawal limits and deposit limits on cash.
Chase has one of the most "liberal" policies, and even they limit ATM deposits to 60 bills (so only $6K if all bills are $100). ATM withdrawals are usually pretty small in all banks, usually about $1K daily withdrawal limit. If you start dealing with larger non-trivial amounts you have to go to a teller.
Some limits have to be put in place, otherwise eejits would do all sorts of things like scams and money laundering, counterfeit bills, etc.... Things like Jorge Aponte-Guzman Figaro Sanchez rolling up and depositing thousands from day's or week's take.
Withdrawal limits are in place for two main reasons. Machines can only hold but so much money, so you don't want one or two persons emptying things out. Also vice-versa; if someone is using a stolen or fraudulent card there is a limit to how much damage can be done to bank and or individual account holder.
Some limits have to be put in place, otherwise eejits would do all sorts of things like scams and money laundering, counterfeit bills, etc.... Things like Jorge Aponte-Guzman Figaro Sanchez rolling up and depositing thousands from day's or week's take.
Withdrawal limits are in place for two main reasons. Machines can only hold but so much money, so you don't want one or two persons emptying things out. Also vice-versa; if someone is using a stolen or fraudulent card there is a limit to how much damage can be done to bank and or individual account holder.
I understand why the limits are there. I was just explaining why tellers are needed as well.
Citibank is one of the worst banks around. I had a duplicate charge from them that it took WEEKS to resolve to get my money back. Had bought some Italian shirts from a boutique store on 57th St and was hit twice with the same charge. Well they would not give me my money back. I want to a few Citibank branches, called Customer Service numerous times and was given the runaround. Finally they gave me my money back and then some. Eventually closed my accounts with them and went elsewhere. The bank I use, you don't need to swipe your card to get into the ATM, nor out it in the card reader. You can use the contactless option to get in and to access your account, this way your card won't get stuck in the machine.
I'd be angry with Citi Bank but even angrier at the store for not correcting it.
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