I am a teacher. I deposited $1500 cash into my account at my school district's credit union. My boyfriend counted the money five times and I counted it twice. When I took it to the credit union, the teller counted the money and gave me a receipt. This was on Friday at 1:00PM. Tuesday night when I got home, I had a bank statement of my account with a short hand-written note. The note said that the teller recounted the money and I was $100 short, so they deducted it from my account. I'm positive it was the right amount and the teller counted it. I went to the credit union and explained the situation and asked why they didn't call me right when it happened. They couldn't answer any of my questions. The girl that took care of the situation was not in the office, so they couldn't do anything, but said that they would call me when they figured it out. The woman I talked to at the credit union said she was the one that brought it to the bank, and when the bank counted it the total was off. They ended up getting back to me late the next day and the teller said she didn't count the money well the first time and realized the mistake when she went to recount it. It was 20's and 50's. I told them I was going to my credit union board. I didn't know what else I could do.
Is your credit union so small that yours was the only cash transaction it handled all day? That would be the only way the credit union could possibly know that the short count at the bank was due to a shortage in your funds.
You did the right thing to bring your complaint to the credit union board. There's no excuse for such slipshod cash handling. Even if the credit union's acceptance of your deposit was conditional until verified, it's highly unusual for a depositary institution not to honor its own receipt for cash deposited when it's verified by the teller with the customer present. $1,500 in 50s and 20s is not a large amount of cash in the scheme of things. That the teller could have missed a $100 shortage when counting it in front of you is surprising. Stick to your guns on this matter.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Is your credit union so small that yours was the only cash transaction it handled all day? That would be the only way the credit union could possibly know that the short count at the bank was due to a shortage in your funds.