ATM Transaction Failure: Know What You Should Do?

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Many of us often witness a failed ATM transaction many times. Many users face this problem of cash not being dispensed and account still being debited with an equivalent amount. 

What to do when you face an ATM transaction failure:

Transaction slip

In case of transaction error, you should keep the transaction slip generated. The transaction slip is a very important document which comes to help. This slip contains all the important information about your ATM transaction such as

  • Name of the ATM Bank
  • Location
  • Date and time of transaction
  • Transaction reference number
  • Response Code
  • Card No/Account Number
  • Nature of Transaction

 

Complaint

The victim of failed ATM transaction should lodge written complaints immediately with Acquiring bank branch and issuing branch. Acquiring bank is the branch that controls the ATM that was used for withdrawing money. If you have the account in HDFC bank and you used the ATM of Punjab National Bank, PNB will be the acquiring bank. HDFC bank is the issuing bank here. The customer can make a telephonic complaint to their helpline and obtain a complaint number. Filing a written complaint immediately is required for safeguarding your legal rights. If needed, send the complaint by registered post. Top 16 Things You Can Do At An ATM

Do not dealy

Don't delay your complaints and don't get panic. Immediately follow the mentioned steps. Delay in lodging complaints results fails data tracking, and this may create trouble in recovering the money back. Most likely, the amount is credited back to the customer's bank account within seven days of the failed transaction. How To Take Instant Loan From ICICI Bank Through ATMs?

RIT

If your bank is a public sector bank and it does not provide the documents asked by you-you can use Right to Information Act to get the documents and recordings. How To Reduce Your ATM Fees? 

Reasons for ATM transactions errors

There are many reasons why an ATM Transaction fails
By entering a wrong password

  • When there is not sufficient balance in the account
  • Insufficient balance in the ATM
  • Suspicious activity
  • Inactive cards
  • No minimum balance

 

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