7 Steps to recover money if ATM transaction gets declined and money gets deducted


If ever your ATM transaction gets declined but still, your amount gets deducted then follow these simple steps.

Your transaction got declined, but your money gets deducted, don’t worry, follow these following steps and be rest assured that you will get your money back. Here is a to-do guide if something like this happens.

  1. Call the customer care number of the bank with whom you have your account opened with. It could happen due to some technical issues.
  2. If you still aren’t satisfied, then go to the nearest branch and speak to them about it.
  3. If your problem doesn’t get solved there as well, then speak to the branch manager.
  4. If he fails to help you, then call the grievance cell. The department is taken care of by highly designated people like the GM of the bank, and this department particularly looks after grievance cases. Those who post direct complaints on their website is also taken care of by this department only.
  5. If you still face the same problem then you can go to the Banking Ombudsman. A senior official is appointed by the RBI. According to the scheme introduced in the year 1995, the Banking Ombudsman takes care of the customer complaints which was not resolved by the bank itself. Under this scheme, all the commercial, regional, rural banks, and also the scheduled primary cooperative banks are covered. Till date, only 15 ombudsmen have been received. You can find their address and contact details on the RBI website.
  6. If you still feel dissatisfied then you can contact National Consumer Disputes Redressal Commission. Log on to http://ncdrc.nic.in/. These are the biggest guys in the hierarchy and can take care of your problems and also hold the bank accountable for not being able to solve the issue and for harassments.
  7. If everything fails, then you can take the Legal Route. Being the citizen of India you have the right to sue the bank and also slap charge the bank for the legal cost. Go to the nearest District Court and file a complaint and sue them.

Every bank looks into financial discrepancies seriously and gives a fast-track solution to its customers. All these ways are here to help you in case you don’t find any solution but be rest assured that banks will help you with your problem and you will get your money back.

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