What to do when your ATM transaction fails?

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There are numerous complaints about failed and partly failed ATM transactions in India. The RBI had promised an expanded access to bank ATMs from April 1 this year.

Three months later, it is turning out to be a nightmare for many customers as banks still haven’t got their act together.

Just try getting cash out of an ATM of a bank (where you don’t have an account). It will be nothing short of a miracle if your transaction goes through smoothly. Often your request is turned down — for a variety of operational reasons.

What is  failed ATM transaction?

You may not get the cash — but your card swipe may have still deducted the balance in your account.

What to do now?

  1. Keep the transaction slip  safely
  2. First inform the security person employed at the ATM and register a complaint in the complaint book available at the ATM and ask the security to counter sign that complaint.
  3. Then visit your branch and ask for complaint form. Fill the details in that form and take a xerox the form and then submit the form to your bank and get the acknowledgement in the xerox copy. Follow through with an email.
  4. Regulatory norms mandates that the bank should complete its investigation within 12 working days. Otherwise they need to pay penalty.
  5. Even still your grievance is unresolved, you can approach banking ombudsman 
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