Consumer Blog

Our guest Author Mr. Pranjal Saikia wrote about ATM woes long back how his account was deducted of balance while ATM did not disburse him cash.
With ATM withdrawal becoming free, this kind of “cash not disbursed but balance deducted” problem has increased. And banks are taking long time to rectify those ATM errors. Sometime customer has to contact bank officials many times before it takes place finally, as recent reports says.
RBI circular which predates April 1 ATM free withdrawal, says “we have been receiving a number of complaints from bank customers, regarding debit of accounts even though ATMs have not disbursed cash for various reasons. More importantly , banks take considerable time in reimbursing the amounts involved in such failed transactions to card holders. In many cases, time taken is as many as 50 days.”
Bankers may be trying to pass the buck to technical problems, but it is the customers who face inconvenience! And there may also be elements who might just try to complain banks of not receiving fund even though they actually receive it!

Here is the news one may find useful:-

What if your cash withdrawal request at an ATM fails and yet your bank account stands depleted ? Despite an RBI directive that banks must reimburse such wrongly debited money within 12 working days, the process usually takes longer if you use the card at a bank other than yours. Says a senior banking ombudsman official, “Sticking to the 12-day deadline could be difficult because there are two banks involved here. Reimbursement may take up to three weeks.’’ Source and complete story.