Is the bank responsible?

Question

This has never happened to me but I’ve wondered about it- especially when in a bank.

Imagine the following 2 scenarios:

1. You’re standing in line waiting to deposit a large sum of money. Bank robbers come in and not only rob the bank but rob each customer in the bank. Should the bank be liable and have to reimburse you for your loss? Please support your answer.

2. You are in the process of withdrawing a large sum of cash. The teller has just handed you the money. Bank robbers come in and rob the bank. In the process they take your money as well. Should the bank be liable and have to reimburse you for your loss? Please support your answer.

If anyone has any references please share them. I’ve always been curious about this. I know banks carry insurance for robberies but are customers covered by the bank as well? If so is there a limit to how much they will reimburse you for?

Answer 1

In both instances the bank is not in possession of the money.

The only  possible way to get the money from the bank would be if they did not take precautions to make sure that these kind of things wouldn't happen.

Also some banks are insured for such things, and the insurance extends to the customers in the bank at the time.

Answer 2

Call your local bank and ask them what their policy is.

Answer 3

FDIC (the federal agency that insures banks) covers any money on the premises, whether you're bringing it in or taking it out. You're protected from the time you walk into the bank until the time you walk out.

Answer 4

1. no money is still yours

2. yes money had been deposit