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?
- Keep the transaction slip safely
- 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.
- 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.
- Regulatory norms mandates that the bank should complete its investigation within 12 working days. Otherwise they need to pay penalty.
- Even still your grievance is unresolved, you can approach banking ombudsman