There are certain times when an individual may come across failed ATM transactions where the amount is debited but cash is not dispensed by the machine. In such incidents, the customer should note the same and lodge a complaint with the card issuing bank at the earliest.
In the case where the transaction carried out at another bank's/nonbank's ATM, same procedure should be followed. In the case of White Lable ATMs, the contact number or toll-free numbers will be available for lodging complaints regarding failed transactions at their ATMs.
As per rules, the amount should be credited to the account within 7 working days after raising a compliant.
If the amount is not credited, the cardholder is entitled to compensation of Rs 100 per day, till the amount is not credited to the account.
Note that customers are eligible to receive such compensation for delay, only if the claim is lodged with the bank within 30 days of the date of the transaction.
Things To Note During Failed ATM Transaction:
- Details of your bank and the ATM back where you have used the card.
- Date and time of the transaction
- Keep the transaction Slip printout handy- this will help you get details of the transaction done.
- Collect the acknowledgment copy from the bank for written application of the complaint.
- If possible attach the photocopy of the transaction slip
- Copy of your account statement reflecting the disputed transaction
As per RBI guidelines, all disputes regarding ATM failed transactions will be settled by the issuing bank and the acquiring bank through the ATM system provider only.
The number of free transactions allowed per month at other bank ATMs to Savings Bank account holders includes all types of transactions, financial or non-financial.
Failed transactions due to insufficient funds at another bank ATM will attract decline charges and will be levied on the customer.