What to do when the ATM does not dispense money in cash but the amount is deducted



Representative image | Photo credit: BCCL

New Delhi: Cash withdrawals from automatic teller machines (ATMs) will certainly increase during Holi, the festival of colors. But cash transactions at ATMs sometimes fail and the amount is debited from your account. The bank’s automatic teller machine issues a slip stating that the money has been debited. So what to do every time the ATM doesn’t dispense the money?

As per Reserve Bank of India (RBI) guidelines, banks must reimburse customers for amounts wrongly debited from their accounts when ATM transactions fail within seven days of an account holder complaint. .

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

In many cases, if the ATM transaction is canceled, customers will receive an SMS within minutes showing the amount credited to their account. However, if the automatic credit does not occur, then you need to follow one of the steps mentioned below.

Here’s a simple step-by-step guide:

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

2) If you do not receive the transaction slip, then you can do a mini bank statement.

3) Submit a written complaint to the branch and attach a photocopy of the transaction slip.

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

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

6) After bank hours or on a public holiday, customers can either log into the bank’s website or call the customer service number, providing details of the failed transaction.

7) Customers can also write a letter to the bank regarding the failed ATM withdrawal and ask for assistance.

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

9) Many times banks scan CCTV cameras installed in ATM kiosks. Banks check the customer’s full images to make sure the ATM did not dispense cash.

The rules of the central bank clearly state that banks are required to display the name (s) and contact number (s) of the relevant agents / toll free numbers / help desk numbers in the ATM premises. In addition, in ATMs, officials’ contact numbers / toll-free numbers / hotline numbers are also displayed for filing any complaints about failed / disputed transactions.



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