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I really do not think this statement is true. AFAIK the limits are in place to limit fraud (if someone has skimmed or stolen your card) and to prevent theft (so
by planetjones 9y ago
I really do not think this statement is true. AFAIK the limits are in place to limit fraud (if someone has skimmed or stolen your card) and to prevent theft (someone mugging you as you withdraw a huge amount of cash).
If what you are saying is true it would be possible to go overdrawn at an ATM. This (again AFAIK) doesn’t happen as there is a call to check your balance.
- jedberg 9y ago> If what you are saying is true it would be possible to go overdrawn at an ATM. It is most definitely possible, it just rarely happens because the network doesn't fail often. See here for more sources: https://www.google.com/search?q=eventual+consistency+atm https://www.google.com/search?q=eventual+consistency+atm
- Lanzaa 9y agoThe banking system is rather complicated. I think it would be possible to overdraw in some situations. See also this article where hackers stole $45 million from ATMs: http://www.nytimes.com/2013/05/10/nyregion/eight-charged-in-45-million-global-cyber-bank-thefts.html http://www.nytimes.com/2013/05/10/nyregion/eight-charged-in-...