Ever strolled into an ATM with your Debit Card only to have it dispense insufficient cash? Has your bank account recorded a withdrawal that you didn’t make? Don’t panic. We’ll tell you what to do.
Make a note of the details
Before you do anything else, make a note of the date, time and location where you faced an issue with the ATM. Of course, in the heat of the moment, you would probably be absolutely livid at the ATM coughing up insufficient cash and wouldn’t really think about taking down these details.
However, information like this will help the bank track the transaction. Call your bank’s helpline immediately and report the matter.
Additional Reading: ATM Usage And You
File a complaint with your bank
The bank will accept your complaint regarding the faulty transaction and will then contact the ATM provider. The bank will review the ATM’s transaction history to look for any inaccuracies in cash dispensation.
Will I get my money back?
Yes, don’t worry! For most claims of this type, your bank will promptly reimburse the money due to you.
Additional Reading: Tips To Use Your ATM Effectively
Help! The machine swallowed my money or Debit Card
The Reserve Bank of India has deactivated the retraction of currency notes if you do not pull the money out within the few seconds allowed for removal. However, there may still be some old cash machines that have not disabled the money retraction function.
If the machine has swallowed your Debit Card, you need to inform your bank immediately.
Watch this short video below that explains what to do in case the ATM didn’t dispense cash and your account got debited.
Why did it happen?
In all likelihood, the Debit Card probably got stuck because of a problem with the card. In this case, you need to place a request for a new Debit Card at your bank’s nearest branch.
Don’t worry though! You’ll have a new Debit Card very soon. Until then, you can still make cash withdrawals at the branch with your chequebook. You could also consider applying for a Credit Card and going cashless. What say?