I like to consider myself a people person, and going to the bank to deposit checks is one of the greatest chances to talk with people. However, I gave that up recently after I tried banking through the automatic teller machine.
The ATM is beneficial for many reasons:
1. I don’t have to leave my car
2. I don’t need to show any type of picture ID; I only need my debit card
3. The ATM gives me an account balance with the receipt
4. I’m instantly credited for the transaction, as it shows up as available balance.
It’s reason No. 4 that’s always had me curious, though. Every time I go to the ATM to bank a small check (say, a rebate check), I’m tempted to enter a deposit amount far greater than the check — say, $150,004.75 for a $4.75 rebate check. I wouldn’t use the extra pending balance fraudulently, because I’d only want to see what my account would look like with all those zeros. Besides, a bank employee would surely catch the mistake during normal accounting practices.
But I’ve always stopped myself, because such an action technically constitutes wire fraud. There’s no distinction between the robber who intends to use the money to buy a car and me, the guy who wants a cheap laugh and an imaginary fortune.
I called a friend of mine who works at an area bank for an opinion — would the bank appreciate my obvious joke, or would it prosecute to the fullest extent of the law?
Neither, she guessed. She once made a $100 accounting error on her personal account, and her bank charged her some type of correction fee. It was a small fee, but we guessed in a case as egregious as what I was planning, I might get penalized with a fine as high as $10.
In the best case scenario, it would cost me $10 to be able to see $150,000 in my checking account. In the worst case, you’ll see me facing a charge of wire fraud.
So if you’re parked behind me at the ATM, you might be there for a while. I’m weighing my options.