Cash question ?

simon06

I was thinking the other day about the following scenario. Suppose you lost a twenty pound note out of your wallet, for example the wind blew it away. Could that twenty pound note be traced back to the atm or bank where it was initially withdrawn from along with the account number,date,time etc of the withdrawal using the serial number as a tracker ?

paragon909

simon06 wrote: »

I was thinking the other day about the following scenario. Suppose you lost a twenty pound note out of your wallet, for example the wind blew it away. Could that twenty pound note be traced back to the atm or bank where it was initially withdrawn from along with the account number,date,time etc of the withdrawal using the serial number as a tracker ?

NO,

If that was the case everyone would be losing money and getting banks to launch investigations lol. If people are careless with money then it's there own fault it's called being negligent and banks dont refund or reward people for that.

grumbler

simon06 wrote: »

I was thinking the other day about the following scenario. Suppose you lost a twenty pound note out of your wallet, for example the wind blew it away. Could that twenty pound note be traced back to the atm or bank where it was initially withdrawn from along with the account number,date,time etc of the withdrawal using the serial number as a tracker ?

Why would anyone want this?
Cash changes hands not in ATMs only, so this 'tracking' would be pretty much pointless.

SailorSam

What if you'd asked for £20 cashback when you were shopping in Tesco would you tell them you'd lost the money and wanted a replacement.

PeacefulWaters

Every ATM withdrawal I've ever made was mis-sold because the banks failed to do this.

Reimburse all my withdrawals plus 8% interest now!

simon06

Sorry misunderstanding on my part. Wouldn't ATMs keep a log of the serial numbers of the notes withdrawn and match them with the account number it was withdrawn from along with date and time etc ? I was just wondering if it was possible to trace a note all the way back to the atm or bank it was last withdrawn from using the serial number ? For example knowing where a particular note had gone say the mint then deposit in account A withdraw from account A deposit in account B withdraw from account B etc etc like a time line and a map ?

agrinnall

No, who do you think would record the serial numbers of every note put into an ATM, the security guards working at probably not much more than minimum wage? If it was done, expect massive charges for withdrawing cash, and we'll all know that you're the one to blame.

zerog

Well it could be done automatically, and I don't think it is unreasonable for people to make this assumption on first thoughts.

Of course if you spend a bit longer then it doesn't make any sense.

SuperHan

Even if it could be done, what benefit would this have?

I cannot see any point as a note may change hands hundreds of times before being banked, so it provides no real insight for an awful lot of administration.

colsten

What a strange question to ask if you aren't, or considering to be, in the business of forging bank notes.

PeacefulWaters

Most ATMs don't use new notes.

Who should get the job of writing down the several thousand unique unsequenced serial numbers when the machine gets restocked?