BANKS CAN BE A PROBLEM
There is a misconceptions that banks (1) are honest and (2) do not make mistakes. I mostly believe in the honesty of banks because tellers that work with customers have nothing to gain by being dishonest. But an incident that happened to my wife quite recently for a significant amount of money made me suspect of #2. This is our story. Many years ago I invested in a friend’s shopping centre in the U.S.A along with many others and received a monthly cheque in American funds as rental payment. My wife took the American cheque into our bank to deposit it into our bank account. But let me backtrack a bit. My wife, bless her soul, checks every transaction that we have with the bank, no matter the amount of the money involved. I always thought it was a waste of time as what could the bank have done with the cheque but put it into our bank account. She went online but could not find the deposit in our bank account and because it was a Sunday she waited until Monday to actually go into the bank and check. The teller that my wife had dealt with was on her day off and she got a senior staff member to look into it. The bank was able to look at all the transactions that the teller had made in the previous 2 weeks and was able to see that the cheque had gone into another bank account with a similar account number. It is my belief that the person receiving that money might not have notified the bank that the deposit was made in error. The moral of this story is don’t take anything for granted when it comes to banks. Always double check!