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Bank charges: Consumers have 'no proof' of deposit at paying-in machines

UK consumers have been warned that some bank paying-in machines do not provide sufficient evidence of a deposit.

The machines are prevalent throughout bank branches across the country but many of them do not provide adequate receipts.

Customers at major banking groups including Santander, Lloyds, Nationwide, Royal Bank of Scotland and HSBC will receive a slip which shows that a transaction took place but not how much was paid, reports the Daily Mail.

Furthermore, Barclays provide receipts which do not actually prove a deposit was even made but are used merely to assist staff locate missing envelopes.

James Daley, editor of Which? Money, told the news provider: "If banks are not willing to provide a guarantee, then they should be putting signs up at the machine warning customers."

The six aforementioned firms have begun to phase in new machines which do provide proof of the value of deposits but some branches are yet to install them.

The Financial Ombudsman Service revealed that only half of all complaints it received about missing deposits were upheld last year.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800030942-ADNFCR

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