Failed ATM transaction? Here's what you should do if debited money does NOT return
The RBI also said that it is the responsibility of the bank to put the deducted money in your account if the transaction fails. One can get their money back soon and also the bank will compensate you for the delay.
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FollowAre you a victim of a failed ATM transaction? or are you struggling to get back your deducted money after a failed ATM transaction? If yes, then you must watch this video released by the Reserve Bank of India or RBI.
In this video, featuring Bollywood mega star Amitabh Bachchan, explains how you can get compensation if the bank is not giving your money back in case of a failed ATM transaction. It also explained how to lodge a complaint regarding the same. Watch this video.
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The RBI also said that it is the responsibility of the bank to put the deducted money in your account if the transaction fails. One can get their money back soon and also the bank will compensate you for the delay.
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According to the RBI, the banks are required to reverse the transactions on their own. However, it is always advisable to file a complaint as soon as possible with the bank that owns the ATM or the card issuing bank.
If the reversal and compensation are not made by the bank, the customers have the right to bring the issue to his/her bank.
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