RANT: What About 'NO' Do ATMs Not Understand?

Like many others this week, I was focused on finances. My youngest daughter's financial situation has mirrored that of the country and the world. It's been in free-fall because of Automatic Transaction Machines (ATMs) that didn't say no.

Let me say up front that my daughters have always been pretty good with money.  Oh, there was that time my eldest daughter discovered my bankcard and used it to supplement her allowance (or lack of one) for a couple of weeks before I discovered her felonious ways.  But, on the whole, they've been respectful and careful with their funds. They've had to be. I'm a Stingy Mommy. 

Things moved along swimmingly until last week when I got the first call. She was "a little overdrawn and the bank charged a 'huge' overdraft fee."  Youngest daughter was appropriately upset and apologetic. She assured me there were no items outstanding.  I went through the motions of lecturing her without making her feel worse than she already felt. We figured out what she needed, plus I added a little more to cover the gas money for a planned trip she was making to Kentucky over the weekend. I went to the bank and deposited the money.

I got the second call Monday morning. "I don't know how it happened, but I checked my balance today and I don't have any money again." 

I ramped up my reaction a bit.  "Do you know what my parents would have done?  They'd have left me in Kentucky. They'd have said, 'Really? How about you hitchhike home?'"

Then we went through her finances once more to determine how much she needed to get back to school and to cover her overdraft. Then I set up an account with Western Union.  When, after making the transfer, the agent asked me if there was anything else she could do, I responded, "Yes, teach my daughter how to balance her checkbook." Apparently Western Union does not provide that service.

It was quiet on the financial front until yesterday morning. My daughter, sobbing, called to say that she was several hundred dollars overdrawn and was told by the bank that she'd been charged overdraft charges on all her ATM transactions over the weekend.

First, do you know how college kids use their ATM cards?  Do you know how many ATM charges a one student can rack up over a weekend?  In our case, there were the 11 individual purchases of bottled water.  Then the box of tic tacs.  That cool headband.  The six-piece chicken nugget meal. Gasoline.  Lunch for her deadbeat friend whose ATM machine did have the sense to say no to him. (I want the name of his bank.) Then there were the ATM withdrawal fees and overdraft charges at $35.00 a clip, you can see how the deficit grew.

At what point does the ATM say no?  They said no to her friend whose lunch she had to buy.  Why not my daughter?  Oh, no. They'd rather charge her a withdrawal fee plus $35.00 for each transaction they should have denied.

After the obligatory lecture, another remote audit of her account, and an oath that there were no items outstanding, I used my new Western Union account for the second time in a week. I also let her know that there would be no more bailouts. It's clear ATMs have difficulty being the bad guy, but I don't. I can say, "No!  Call your father." And, be forewarned.  He knows all about this.

Comments

[Suzanne]

I remember when Jimjr had this kind of problem in his first job out of college. He cut up his ATM card. Said he was "ten-dollaring" himself into the poorhouse. If you have to stand in line at the bank to make a withdrawal or enter the amount in a checkbook transaction register, it's real. But ATM withdrawals seem like Monopoly money.