Ok... Which one of you dropped your ATM Receipt?

[chinaco]

Take a look.

News Headlines

 

[Westernskies]

Damn, looks like I need to be more careful...

 

[glippy]

Oh please, that can't be anyone here. Whoever's that is, they were willing to pay the $2.75 out of network ATM fee.

 

[ziggy29]

Oh please, that can't be anyone here. Whoever's that is, they were willing to pay the $2.75 out of network ATM fee.

Hey, all of my ATM receipts have fees on them.

(Of course, my bank rebates them to me each month, so hopefully I haven't lost too much "street cred" for this confession...)

 

[REWahoo]

I agree it doesn't belong to anyone here - OK, maybe Danmar, but I suspect he, like the rest of us would have most of that $100M invested in something with a return a little better than a checking account.

 

[kumquat]

No, it's just pocket change for him. His REAL MONEY is invested.

 

[DblDoc]

Maybe one of the posters who went all cash...

DD

 

[clifp]

I agree it doesn't belong to anyone here - OK, maybe Danmar, but I suspect he, like the rest of us would have most of that $100M invested in something with a return a little better than a checking account.

The receipt says savings account, right now the old fashion passbooks savings account have some of the highest interest rates around. Schwab's is .4% and I think the internet banks like ING exceed 1% which ain't chump change with $100 million.

The bigger question is since Capital One isn't on the too big to fail why not have the money with a safer bank?

 

[ziggy29]

The receipt says savings account, right now the old fashion passbooks savings account have some of the highest interest rates around. Schwab's is .4% and I think the internet banks like ING exceed 1% which ain't chump change with $100 million.

The bigger question is since Capital One isn't on the too big to fail why not have the money with a safer bank?

Dividing $100 million into a little less than $250K is a lot of accounts...

 

[Texas Proud]

The receipt says savings account, right now the old fashion passbooks savings account have some of the highest interest rates around. Schwab's is .4% and I think the internet banks like ING exceed 1% which ain't chump change with $100 million.

The bigger question is since Capital One isn't on the too big to fail why not have the money with a safer bank?

More than likely he does.... if you have a Cap One account they do not charge you..... so, the money must be somewhere else...

 

[W2R]

Caught! It was me. That $2.75 is part of the vast, actually immense supply of funds that I am secretly spending and covering up with creative math and money laundering (love that squeaky clean money!).

 

[Patrick]

The update says it belongs to hedge fund manager D. Tepp (presumably David Tepper), who says he hasn't used an ATM "since Lehman." Nice. He made $4 billion in 2009, so $100 million is just pocket change to him, I guess.

 

[yakers]

Thought it was Danmar too, but he might want to avoid the ATM fee, since he is one of us thrifty ER types.

 

[LOL!]

I think this will turn out to be bogus in that out-of-network ATMs could easily miscommunicate amounts. Even I had a huge ATM receipt number once when the teller made a typo the day before.

Also I wonder if you could do this: Deposit "checks" via ATM and state that the deposit amount is $190,0121,491.45 or so. I think the software will update your account total even though it is "pending". Then go around and check your balance leaving the receipt dangling.

 

[bssc]

I vote for the account where the fee get rebated guess.

 

[LARS]

This has to be photo-shopped. Who in their right mind would have $100 million at Capital One? NO WAY. Would I believe it if it was JP Morgan or Northern Trust or some other "good" bank? Maybe, but Capital One. Gimme a break.

 

[obgyn65]

I agree with LARS. Doesn't look genuine.

This has to be photo-shopped.

 

[mickeyd]

Looks to me like a fake ATM receipt that will be broadly cast over many, many financial forums such as this. Funny, though.

 

[Nords]

The bigger question is since Capital One isn't on the too big to fail why not have the money with a safer bank?

Heck, with that balance he might consider just buying a safer bank...

 

[freebird5825]

I appreciate the efforts of all previous posters who tried to cover for me. However, being the closest geographically, I have no choice but to confess.

The local ATMs in East Nowhere don't print receipts with that many digits, so I drove 5 hours to Long Island today and back, just for [-]access to modern technology [/-]the hell of it.

That $2.75 ATM fee was just a drop in the bucket compared to the NYS Thruway tolls and the gasoline.

But it was more than worth it to get my 15 minutes of e-fame.

 

[chinaco]

Although banks are regulated and now there is a lot of focus on the books, reserves, liquidity, etc.


Putting $100M into a savings account means taking on much of the company risk will little participation in the potential upside.

Seems like a dumb move to me. This person would be better off putting the bulk of it in short-term treasuries. Better guarantee... maybe even a better return.

Surely this is a lottery winner and not a money manager.

 

[Gus.]

Also I wonder if you could do this: Deposit "checks" via ATM and state that the deposit amount is $190,0121,491.45 or so. I think the software will update your account total even though it is "pending". Then go around and check your balance leaving the receipt dangling.

The available balance matches the balance, so that couldn't be the cause. I don't know of any bank that would make an ATM deposit of millions or even of thousands available immediately.

 

[Texas Proud]

This has to be photo-shopped. Who in their right mind would have $100 million at Capital One? NO WAY. Would I believe it if it was JP Morgan or Northern Trust or some other "good" bank? Maybe, but Capital One. Gimme a break.

I guess nobody read what I posted before.... the money is not in Cap One.. if you have an account at Cap One they do not charge you a fee... since there is a fee, it is not a Cap One account.... simple..


Now, I did see a video of an talk with someone who is rich and he said he has a lot of money in Chase... that they pay him 20 or 25 BP and that is a good rate for 'cash'... and he said this could be a small amount of his investments in cash for the guy...

Also, rich people get special favors... more than likely they are sweeping this money into an investment every night so the funds are not 'in the bank' if it is every closed...

Is it fake Sure it could be.... but there also is the possibility it is real...

 

[sheehs1]

Saw this article....blinked and kept going. I knew it wasn't mine.

 

[FreeAtLast]

Another candidate for ER. We should see them on this forum any day now.