The Milford Bank Presents: The Weird World of Financial News!

By Brenda Norris

At The Milford Bank, we’ve been committed to helping Stratford and Milford families improve their quality of life for generations. And given how long we’ve been at it, we thought we’d seen it all. But if you’ve seen the headlines lately, you’d realize that these are truly unique times that we live in.

While it is important to remain disciplined and responsible when it comes to your finances, it is equally as important not to let the stress of managing your money take over your life either. That said, this week’s blog post will take a break from helpful hints, savings strategies or methods for finding your family the perfect home. Instead, we’ll take a look around the world to learn about some of the craziest stories making news in the finance sector today.

Texas man accidentally deposits himself at Corpus Christie ATM

It may be easier than ever to make a deposit right at your ATM, but if you’re not careful you may just end up depositing more than you asked for. Such was the case for a Texas ATM repairman, who became stuck inside the machine when the locking mechanism closed behind him while he worked.

He was rescued three hours later after successfully passing a message through the receipt slot when a customer made their own withdrawal. After police were notified, it took them thirty minutes to kick down the door to reach the man who was angry, but unscathed.

Japanese Bank deploys world’s first robotic banker

The next time you’re passing through Japan’s historic capital and find yourself looking for a bank, head down to the central office of Japan’s largest lender, the Bank of Tokyo Mitsubishi UFJ. There, you’ll be able to catch a glimpse of a rare sight—the world’s first robotic banker. Nao, which the robot has been named, greets customers when they enter and can assist with all the bank’s main services in Japanese, Chinese and English.

What would you do with 300,000 pennies?

Meanwhile, back in the States, a Virginia man was so frustrated with the customer service he was getting from his local DMV that when the time came to pay sales tax on his two cars, he gave employees at the Lebanon, Virginia location his two cents—rather, his 300,000 cents.

After an exhaustive debate that began over improperly signed paperwork for his son’s new car came to a pass, the Virginia resident headed to the DMV to pay a $3,000 sales tax, entirely in pennies. The coins filled up five wheel barrows, and took until 1:00 AM the following day for employees to get a final count.

Bank error in your favor, collect $2 million

Several years ago, an Australian man opened up a high-limit credit card account with his local bank. Due to an administrative oversight, however, his funds were not shut off when the line of credit was exceeded. Realizing this, that man continued to withdraw and re-invest funds for the next several years before finally being caught. During that time, he was able to withdraw $2 million, which he spent on travel, sports cars, collectibles and more. He did, to his credit, continue to pay his mortgage, insurance and other bills too. But in the end, he was sentenced to roughly five years in jail for his deception.

To learn about how you can make the most of your financial situation the right way, stop by any office of The Milford Bank in Milford or Stratford today. You can also learn more by checking out our Online Learning Center here.