May 20, 2016
TD Bank Is Killing Its Money-Eating Coin Counters
In early April, NBC’s Today show tested the machines by pouring in about $300 worth of pennies, nickels, dimes, and quarters. In one case, the kiosk spat out a receipt worth 15% less than the deposit.
If only the bank could have determined that it was short-changing customers before the class-action lawsuits appeared.
Unfortunately, that would have required strict accounting standards. You know, like when you deposit $100 in the bank and they add exactly $100 to your account. At the end of the day, if they only find $99.99 in their till, then they'll spend hours and hours attempting to reconcile where that missing penny went.
You know, like a bank would.
Did I mention that my mom once worked in a bank vault? She did. If they were off so much as a penny at the end of the day, nobody went home until the error was found. Seriously.
I wonder how long those coin counters would have been in operation if the error would have been in favor of the customer? One can only imagine how many days that would have taken to fix. And since I have an active imagination, I'm going to guess a number less than two.
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