What To Do About Bank Teller Errors?
What would you do if you went to the bank to make a cash or check deposit and realized later that the bank teller made a mistake? Bank teller errors happen from time to time. They are imperfect just like anyone else.
Let’s say for example that you made a deposit for $100 cash, yet noticed only later that your receipt reflected as $10 or even as a $1,000 deposit made? Or you cashed a check for a specific amount and the amount received was way more than the expected amount? Or perhaps a person made a transfer to your account by mistake? Although these bank teller errors & mistakes may not be a daily occurrence at your bank, they in fact do happen once in a while.
If you have experienced firsthand or heard of someone who has, what is best thing to do when bank tellers make these mistakes? Well, bank tellers just as anybody else are imperfect. It’s not if they will make a mistake, it’s more about when it will occur.
It really doesn’t matter how old nor how much experience bank tellers have, it’s always possible to cross or transpose figures when making deposits, cashing checks and performing other business transactions in rush. I mean think about it. Try to count really fast to 50 and see if you don’t have to start over because you got distracted with something. However, when this does happen to you at a bank, what should you do?
I am covering this on my blog today because at some point or another you may be faced with this issue. I know that I have in the past.
Something To Consider..
Banks use software on computers that keep track of bank tellers’ balances for drawers at the end of each day. It will show outages and shortages due to bank tellers errors. Their denomination analysis performed along with research shows what contributed to these differences. What does this mean for the customer? Well, simple. Bank tellers errors are recorded.
Customers who think or were actually shorted cash should ALWAYS go bank to verify shortage. If a bank teller is over in the drawer at the end of the day, cash is credited to a general ledger account that banks keep until claimed. If he/she is over, likely it is due to giving too much out or a transposing of numbers and incorrect entry.
On any note, when bank teller errors occur, the teller must take responsibility.
The answer falls into what “integrity” really means. Integrity means in a nutshell doing what is right even when nobody is watching. Some have also described it having the willingness to stick to our values and standards. I liken it to listening to that ringing conscience that all we have that constantly reminds one of the right thing to do.
Some may reason that a bank will not miss that extra money that I received. If you in fact received the extra money by mistake and failed to return it after notified, you could have your account debited for the overage. Think about this for a minute. What does it really say about a person’s integrity and what he really stands for if he knows that he received more than expected? Or what does it say about a bank teller who recognizes the error, yet doesn’t contact a customer?
How to Help Minimize Mistakes & Bank Teller Errors
Although it’s very tempting and often unavoidable, while bank tellers are counting your money, bank teller errors often occur when interrupted with too many unnecessary questions. Try to wait until your bank teller finishes counting your money.
Some examples of some common bank teller errors occur with cash exchanges. It is common that customers like to talk to bank tellers while they are counting money. Nothing wrong with making conversation. However, this can often be very distracting for tellers. Conduct one transaction at a time.
Now, as for deposits, this also helps bank tellers avoid making mistakes of entering or even transposing numbers due to undue distraction.
Remember that it is always a good rule of thumb that upon finishing a transaction that a customer should always check their bank receipts. Also, reconcile your bank statements at the end of each month. Don’t expect that your bank will always be right posting transactions. If you notice that something is wrong or was not processed correctly, report it immediately to your bank so it can be fixed quickly. As soon as you notice these bank teller errors and mistakes, they must corrected by reporting them in a timely manner. If not done, this could result in losses for the customer in most cases.
So again, as you seen in this brief post, although bank tellers have a huge responsibility of managing and minimizing risks, while at the same time performing good customer service, remember that they are imperfect and do commit mistakes. However, customers can also help banks by cooperating and reporting any bank teller errors as soon as they are noticed.
Have you ever been faced with any of these situations before with bank tellers errors? Has anyone every given you too much money or not enough money in a bank transaction? If so, how did you handle it? Feel free to leave your comments below.