We all must have gone through an incident where we went to the ATM to make a transaction, but the machine didn’t dispense the amount and the amount was deducted from the account. Doesn’t it terrifically horrify you seeing the debit message? Do you know what you should do in such a situation?

Here are a few steps you should do when you face a similar situation after an ATM withdrawal:

→ Record the ATM details

Record the exact time, date and location of the respective ATM withdrawal transaction. If the city is well-populated, there is a possibility of different ATM’s set up at different locations. You can even take a snapshot to save the details mentioned above. It is advisable to not use the same ATM again, at least not the same day.  

→ Keep the transaction receipt safely

Generally, you receive a transaction receipt on every ATM withdrawal or activity in the ATM machine. If in case you receive a transaction when the ATM didn’t dispense the cash, keep the receipt safely. This will be proof that you didn’t receive the money. You should take a copy of the receipt as the print on the receipt generally fades over time.

→ Contact your Bank

Report the transaction to the bank at the earliest. You can contact them via customer care or visit the nearest branch to the ATM. Ensure you mention every detail and explain exactly what happened to get a faster resolution. The best way to reach the customer care is by contacting the number mentioned at the back of your card.

→ Lodge a complaint

Reporting the ATM withdrawal transaction is not the same as filing a complaint. A complaint will also include the details of the contact you made with the bank. Moreover, you can clearly explain your situation in writing. It is advisable to attach your transaction receipt and any other document/snapshot that can prove your case.

→ Follow Up

If you haven’t heard from the bank even after the formal complaint, contact the branch and follow up. Request for the status of your complaint. It is your money after all!

→ Banking Ombudsman

If you don’t receive any update in spite of doing everything mentioned above, you can take recourse to the Banking Ombudsman. A Banking Ombudsman is a judicial authority made by the Government of India to resolve the customer complaints relating to services rendered by the banks.

Things to Know If An ATM Withdrawal Doesn’t Dispense Cash

Here are a few things to know when an ATM doesn’t dispense cash:

♦  The customer should lodge a complaint within 30 days from the date of the transaction. If the customer does not lodge within the stipulated time, he/she is not entitled to get any compensation.

♦  ATM’s that are set-up, owned and operated by non-banks are called as White Label ATM’s.

♦  If you face the situation in any of the WHL ATM’s, the customer care/toll-free number is mentioned somewhere on the ATM machine. You must then contact the operator resolve your issue.

♦  As per the instructions by the Reserve Bank of India, the banks have been asked to resolve the issue within 7 working days from the date of the complaint.

♦  W.e.f July 1, 2011, banks have to make a compensation of ₹100/day for delays made in re-crediting the amount. This is applicable only when the resolution is not provided within 7 working days from the date of the complaint.

♦  The compensation is to be given to the customer without he/she making any claim for the same. However, as mentioned above, it is possible only if the customer lodges a complaint within 30 days from the date of the transaction.

♦  Since most of the banks have CCTV cameras installed in the ATM rooms, you can ask for a copy and prove the transaction was incomplete from the other side.

Due to the recent guidelines laid by the RBI, the resolution of complaints has now become fast and quick. Although, it doesn’t make things easier, what’s better than to know that you will receive the amount eventually?