Users on the social-media platform began sharing videos that showed a so-called glitch at Chase Bank that was allowing customers to deposit big checks and withdraw funds from ATMs immediately, even if sufficient funds weren’t available.
To all the idiots in the thread saying the bank should never have let this happen: this is cashing a check and you want this to be possible so you don’t have to wait 3 days after depositing a check to access the funds.
A bank that’s done business with you trusts that you wouldn’t deposit a fake check and believes that the amount on the check is going to be available to be transferred.
Anyone abusing that trust makes it likely that the feature will be taken away from the rest of us, and they should see at least a week of jail time.
People are literally running out of money. This is expected.
I’ve always maintained that if the system allows it to happen then it should be legal. I mean I’m not stupid enough to go out there and try it, because I know it’s illegal. Just the law needs to change.
I both agree and disagree with you.
Agree: If you maintain a system, you are responsible for protecting it and for some of the ramifications of its use.
Disagree: nobody has a right to commit fraud.
