It is quite obvious that many a times, ATM transactions are declined, however, we find that the amount is debited to our account. Possibly this could be due a defective ATM machine or problem with the dispenser or other technical flaw in the system. Such declined transactions can be taken up for recovery within a week or two. You will definitely get your money back provided you follow the following few steps:
- Though the amount would be credited back to the customer’s account, once the entry is reconciled at the bank’s end, delay may occur due to technical fault. In such cases, ensure to follow up with the bank on their customer care
- If the problem persists, visit the nearest bank branch and follow up with them to solve your problem and get an assurance from them.
- Further not satisfied? – Meet the Branch Manager if the concerned department personnel are not co-operative.
- Problem still not solved? – Grievance Cell – This is an exclusive unit dealing with customer grievances Cell. This is headed by an executive of the rank of GENERAL MANAGER. The complaints posted directly on the bank’s website are also resolved by this department.
- Let us assume that the problem still persists. Now comes the Banking ombudsman – This is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in banking services, as per directions issued in 1995. All Scheduled Commercial Banks, Regional Rural banks and Scheduled Primary Co-operative banks are covered under the scheme. So far, there are 15 ombudsmen, whose offices are located mostly in state capitals. Their addresses and contact details are available on the RBI website.
- .Still not solved? –National Consumer Disputes Redressal Commissionwhose site is http://ncdrc.nic.in/ – These are by far the biggest bodies available and possess real powers to hold the bank accountable for harassment.
- Possibly let us say the problem Still Continues which may not happen. However the recourse available is – Legal Route –Go to the nearest District Court and sue the bank! This is the last and final resort available to you as a citizen of India. You may go on and fight a case, and even slap charges on the bank for recovery of legal costs.
It is true that these days, the Banks are quick in resolving such complaints and you can rest assured of getting your money back without any Problem.