Shorted $168 From a Bag at my Dump Bank...

[baddbluff]

I made 2 dumps a week or two ago. When the deposits finally posted, one was for $1499.50 and the other was $1332.55. How does a machine count $1500 in halves as $1332.55 I know for a fact that it contained EXACTLY 3 boxes of halves (3 bags @ $500 each). ^ give or take 50c like the other deposit. The bags contained only halves. What recourse do I have here?

 

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[mark1982]

Call the bank ASAP! What i understand is some coin carriers will keep the coins in a bag with your information on them for a certain amount of time if there is any problems with the amount that was credited. That's to much money to let roll off your back.

 

[ArkieBassMan]

This is exactly why I will never dump in this manner. If the coins are gone, you have no recourse. Maybe the bank will take pity on you and give you credit. All you can do is call them and hope.

 

[BuffaloBoy]

my dump bank works with me on shortages only once have I been out on my shortages which was about $40... I've been refunded aqs much as $350 in as little as two weeks when they sent the batch out to be recounted for any shortages.

 

[twiasp]

Also audit your account every so often if you are dumping bags. I noticed my bank account for coin roll hunting was diminishing and went to the bank to gather info to do an easy audit myself. Well i learned that my bank gives me the "tapes" off the bags i turn in but that receipt number doesn't match anything on my accounts. So the bank ended up doing my audit for me, had to have a branch manager call the vault manager to audit. Few days later my account was credited 9500.00 of what the vault manager said were "backlogged bags" lol. I got a lot of apologies from the branch manager and she thanked me for showing them an obvious weakness in their system that will be corrected. I brought them a dozen muffins (7 bucks from Sam's) and they sent me a thank you card with all their signatures and a nice little paragraph of how pleasant it is have have nice customers. That branch is now my main go to dump bank and will audit my account anytime i want them too as long as i make an excel spreadsheet with all my receipt numbers on them, dates turned in, and location.

 

[huntsman53]

I agree to notify the Bank asap! The Bank will obviously show an overage in the coin deposits once all of it or them have been tallied. Since you are short a specifc amount and if the Bank's overage is at or close to that amount, they should credit your' account with what it is short.


Frank

 

[Owassokie]

This is exactly why I will never dump in this manner. If the coins are gone, you have no recourse. Maybe the bank will take pity on you and give you credit. All you can do is call them and hope.

In my area and experience, you have very limited recourse whether it's counted immediately or sent to be counted. Regardless of how you dump, the most import thing is that the bank and/or vault employees believe you were shorted. They get people constantly telling them they've been shorted. I've contributed to the problem by having them do an audit one time when dumping $2000 in coin at a bank. It came up $200 short. After putting them through the hassle, I went home and found a bag my daughter filled with ~$200 in halves. I'm guessing I'm not the only person that's done this.

If you're at the bank for an instant dump and they believe your coin was counted properly, you will likely never get your coin back. If they believe you, keep good records of individual coin deposits AND do a real audit, you will likely get your money back. Sending coin off feels like you have less control. However, if you keep the bags light and consistent, it will help you avoid shortages. Don't mix denominations. If depositing halves, make every bag $500 instead of $1000, even if you have several thousand to deposit. Another idea is to weigh each bag and write the weight on the bag and the corresponding numbered slip. The importance of light, consistent bags is the employees at the bank and the vault will become accustomed to the consistency of the bags. Light bags limit the opportunity for significant shortages. Each bag is counted separately. You can show a pattern of constancy that will probably be recognized by the employee and fixed before you realize there was even a mistake. If it doesn't get fixed before it hits your account, use you deposit slips, account information, and bag numbers to show the pattern of consistent deposits. Again, it's all about convincing the employees that you were truly shorted.

For the record, I know my thoughts are kind of 'one size fits all'. You may have a connection at a bank or live in a region where things are done differently. YMMV

OO