Amount Deducted From ATM But Not Dispensed? These 5 Tricks Will Help You Get Every Penny Back | Business News

If cash does not come out of the ATM or gets stuck midway, do not rush or try to pull the notes out forcefully. (AI Generated)

Has it ever happened that you or someone you know tried to withdraw money from an ATM, but the machine failed to dispense cash while the amount was still deducted from the account? This is a fairly common issue caused by technical glitches.

While most people today prefer digital payments through UPI, ATM withdrawals remain frequent, and such incidents can be stressful. The good news is, by following a few simple steps, you can recover your money without panic.

Keep the Transaction Receipt Safe

If cash does not come out of the ATM or gets stuck midway, do not rush or try to pull the notes out forcefully. Wait for a few moments, as sometimes the machine takes extra time to dispense money. If the cash still does not appear, keep the transaction receipt safe along with the SMS alert received on your phone. Also, note down the ATM number displayed on the machine.

Banks Are Liable to Compensate

According to the Reserve Bank of India (RBI), if cash is not dispensed but money is deducted, the bank must refund the amount within five working days. If the bank delays, it must pay a compensation of Rs 100 per day until the money is credited. However, this is only applicable if the issue is formally reported to the bank.

Contact Customer Care First

In many cases, banks automatically reverse the amount within 24 hours. If that does not happen, immediately contact your bank’s customer care. While raising the complaint, provide details such as the ATM location, transaction date and time, transaction ID, and the receipt.

If customer care fails to resolve the issue, visit your bank branch directly or file an online complaint through the bank’s official website.

Escalate to RBI Ombudsman

Every bank has an internal Ombudsman Officer whose details are available on the bank’s website. If the issue remains unresolved, you can approach the RBI Ombudsman by filing an online complaint on the RBI portal or by contacting the nearest RBI Ombudsman office.

Take the Case to NCDRC If Needed

If all options fail, the matter can be escalated to the National Consumer Disputes Redressal Commission (NCDRC). For this, you must keep transaction receipts, bank statements, proof of communication with the bank, and if possible, CCTV footage from the ATM.