ATM transaction got declined but amount got deducted? Here’s what you should do


Have you ever faced the problem, where the ATM machine fails to dispense cash, but your account gets debited? This, however, doesn’t happen as such, but if this ever happens to you then following are the steps to follow right away. No one would want to lose money without any reason. All the following steps are guided by the Reserve Bank of India.

  1. If your account gets debited and you don’t have the cash with you after using an ATM machine, then you need to lodge a complaint to the bank whose card you have used. Go to them personally or call them, but first things first, lodge the complaint. It doesn’t matter if you haven’t used your bank’s ATM machine.
  2. If it is a case of WLA then you need to call the customer care number right away and let them know about the failed transaction.
  3. WLA stands for White Label ATMs. This is set up, operated and owned by non-banks.
  4. RBI has instructed the banks to resolve these kinds of transaction issues within just 7 working days from the date the complaint has been lodged.
  5. In case this doesn’t get resolved, then a compensation of Rs. 100 has to be paid by the bank to the customer for the delay. After the 7th day if you still don’t get your money back then the bank will pay Rs. 100 as compensation for each delayed day.
  6. This compensation will have to be credited by the bank to the customer’s account without the customer demanding for it.
  7. If you don’t lodge any complaint about the failed transaction within 30 days, then please note that no compensation will be provided.
  8. If you don’t feel satisfied with your bank’s resolution, then you can approach Banking Ombudsman. If the bank fails to provide a solution or rejects the complaint, then as well you can contact Banking Ombudsman.
  9. Please note that each and every bank has a CCTV camera installed. It won’t be difficult for them to collect the footage and figure out if the transaction actually happened or not.
Please follow and like us:
Pin Share

You May Like

Leave a Comment