ATM Tips: Did money get deducted from your account at the ATM but you didn't receive the cash? Do this immediately..

ATM Failed Transaction Complaint Process: In today's digital age, everyone withdraws money from ATMs, but sometimes it happens that the ATM doesn't dispense the cash, but you receive a transaction message on your mobile phone, or the money is debited, but you don't receive a message. In such situations, people often panic, wondering if they will get their money back. But you don't need to worry. The Reserve Bank of India (RBI) has made clear and strict rules for the safety of customers, which help in getting your deducted money back. Let's find out what the rules are and what you should do.

RBI Rules Regarding ATM Failed Transactions
According to the central bank's 'Failed Transaction' rules, if an ATM transaction fails and money is debited, the bank has to return the money to your account within T+5 days. Here, T means the day of the transaction. This means the money will be credited to your account within the next 5 working days after the money was debited. This process should be automatic; you don't need to visit the bank.

What if the bank doesn't return the money?
If the bank does not return the money within 5 days, the RBI states that from the sixth day onwards, the bank will have to pay a penalty of Rs. 100 per day. This rule applies to all banks. To receive the penalty, you must filed a complaint within 30 days. This means that for every day the bank delays the refund, it will have to pay you an additional Rs. 100.

What to do if you receive an SMS about money being debited from the ATM, but the money is not dispensed?
1. Keep the ATM slip safe.

2. It contains the transaction ID and the machine code.

3. If you don't have the slip, get the information from your bank statement.

4. Go to the nearest branch and file a written complaint or call the bank's customer care number and get a complaint number.

5. Nowadays, most banks also provide the option to register complaints on their apps and websites.

6. Your mobile number should be updated with the bank.

7. Ensure your mobile network is working correctly so that you receive transaction messages.

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