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ATM Deposit Claim-Investigation Beyond 10 Days

Answered by: 
John Burnett

Question: 
If a client makes a claim that the ATM did not deposit either cash or a check in the correct amount, however does not recall the amount of the cash or check, what should our bank do if the investigation goes beyond 10 business days when provisional credit would be owed?
Answer: 

If you don't have anything more than a guess by the customer concerning what you're looking for -- I trust you have scoured the ATM transaction logs looking for evidence his/her card accessed the machine -- you have, I think, enough to close the investigation and deny the claim before you get to the 10th business day. And if the customer has not stated a claim amount, you have nothing to work with as to any provisional credit.

First published on 05/26/2019

Filed under: 
Compliance
Filed under compliance as: 
Reg. E
Deposit

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