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What to do when ATM does not dispense cash but the amount gets deducted

Cash withdrawal from automated teller machines (ATMs) will certainly increase during at the time of festivals. But cash transactions from ATMs sometimes fail and the amount is debited from your account. The bank's cash vending machine delivers a slip mentioning
money has been debited. So, what to do whenever the ATM fails to dispense the money?

As per the Reserve Bank of India (RBI) guidelines, banks have to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within seven days of an account holder’s complaint.

The banking regulator further mentioned that all customers are entitled to receive such compensation for delays only if a claim is lodged with the issuing bank within 30 days of the date of the transaction.

In many cases, if the ATM transaction is cancelled, within a few minutes customers get a text message of the amount being credited into their account. However, if the auto-credit does not happen, then you have to take any of the steps mentioned below.

Here's a simple step-by-step guide:

1) Whenever the ATM transaction is declined, you get a “transaction failed” receipt from the cash-dispensing machine. Always keep the slip with you as it will have the transaction reference number.

2) If you do not get the transaction slip then you can take out a bank mini statement.

3) Make a written complaint in the branch and attach the photocopy of the transaction slip.

4) The slip is crucial as it carries the ATM’s ID, location, time and response code from the bank.

5) Customers can drop a complaint in the drop box available at the ATM kiosk. 

6) After the banking working hours or on a holiday, customers can either log in to the bank’s website or call the customer care number, providing details of the failed transaction.

7) Customers can also write a mail to the bank about the failed ATM withdrawal and ask for help.

8) You will get a call from the bank within 24 hours and the money will be sent to your account within seven working days.

9) Many a times banks scan CCTV cameras installed in ATM kiosk. Banks check the complete footage of customer to ascertain that the ATM failed to dispense cash.

The central bank's rules clearly mention that banks are required to display the name/s and the contact number/s of concerned officers / toll free numbers / help desk numbers in the ATM premises. Also, in ATM booths, contact numbers of officials / toll free numbers / helpline numbers are also displayed for lodging any complaint regarding failed / disputed transactions.


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