Money Lost Between Banks?

Cat On Lenovo Laptop

Cat On Lenovo Laptop

Two days שעם,during the Purim holiday,  I tried to withdraw 1000 NIS from Bank Leumi in Dizengof. The ATM , aka “Kaspomat” returned an error an apologized.

As I was walking across the street to another ATM I was surprised to receive an SMS from Bank Poalim(my bank) confirming that 1000NIS have been withdrawn from my account.

The SMS was a result of a new cool service that Poalim provides sending SMS notifications on major account actions.

However, I was always under the impression that ATM transactions are Atomic in the database sense of transactions. A further check in my on-line account has shown that indeed 1000NIS withdrawal is listed there as well.

In the end of the day, the transaction was automatically canceled after 48 hours. My guess is that Bank Poalim and Bank Leumi “settle” their differences after 24 hours so the overall Action consistent , but it is not Atomic.

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One Response to “Money Lost Between Banks?”

  1. LLB Says:

    It’s hardly atomic. Further than that, it’s not even synced online with the bank’s main DB and the ATM machine doesn’t always know your current balance. There have been cases of hackers with inside info taking advantage of scheduled disruptions in the bank’s network. They quickly went through all the ATMs in a 20 mile radius, withdrawing the max amount $$$ from each machine. Of course, after a few incidents like these, all the banks installed anti-fraud systems which detect and block suspicious activities like this.

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