Several reports have come in, indicating the new Chase Bank ATMs that now have deposit-scanning features have kinks in the system that could cost you big bucks.
While the new technology is advertised as nearly being able to â€œread your mind,â€ the ATMs donâ€™t actually read business-issued checks very well and often refuse to let certain kinds of checks even be deposited.
This, of course, defeats the whole convenience of their new â€˜accurateâ€™ features that are heavily advertised.
Issues being reported:
In some cases, the ATM takes the check for deposit, is not able to read it, and prints an error slip. In normal situations, the customer would then have to take the check and deposit in person to a teller during regular business hours.
But the Chase ATMs TAKE the check and do not issue a deposit on the account, and enter into pending â€œinvestigationâ€ for 30 days.
If you are a single mom, starving student or small business, this minor hiccup could begin the start of a large financial disruption. When Chase is contacted regarding this situation, no representatives are able to give details or estimations as to how or when a decision will be made, or when the “investigation” will close.
Other issues with Eaten Check Syndrome?
It can be problematic to get a new check re-issued. The machines are actually shredding the checks so to get one reprinted from a business 30 days later can be tricky. If it’s from someone you don’t know very well, perhaps a check from someone on Craigslist – good luck. (And for the record, we don’t recommend accepting checks from someone on Craiglist)
Ironically, (and according to reps speaking with Chase customers) the machines are not even emptied by tellers! A third party on an infrequent basis for certain locations empties the ATM. There is no manual override to depositing checks, so the current theory is this “modern, efficient, and â€˜mind-readingâ€™ technology” in the new Chase ATMs is actually to save bank costs.