One thing that we never fail to notice at an ATM (Automated Teller Machine) is the waste paper bin overflowing with crumbled and torn up ATM slips. We hardly ever think of putting that slip of paper back into our pockets. A huge mistake that we shouldn't be making anyway. Here's why:
1. It serves as your proof of transaction
Gone are the days of going to the bank every week to get our passbooks updated. Our parents used to do that to make sure there were no discrepancies in the transactions. The ATM slips, nowadays, act as proof of our transactions. The ATM works on a software so the chances of errors will always be there. And in case there is a problem, the bank would require your transaction receipt to rectify the error. If you're wondering which slips to keep and which ones to discard, keep all of them. Sort them out month wise and keep them in a labelled envelope. When you're sure you won't be needing them again, you can try to recycle/upcycle them for something more useful.
2. Others could misuse it
ATM receipts also help by making sure your money is safe. As we advance technologically, so do criminals. In fact, there have been a number of cases around the world where people have secretly been stealing money from people, and because they never checked their receipts, these crooks would keep getting away with it for months. By keeping a tab on the amount withdrawn and the balance left, you would always be sure about your transactions and would manage to keep prying eyes away.
3. You could be aiding cyber crime
No matter how many ways we crush or tear them, those slips thrown into the bin can still be used by hackers to decode and hack into your system. You are well aware that things can really go south from there.
Always keep an eye out. Safe.
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