With online payment services being available for all your transaction needs, usage of ATM to withdraw cash might have been reduced lately. No matter how much little cash we want to carry, you also can’t completely deny the usage of cash currency in your everyday life.
It is also true that utilizing an ATM can occasionally be challenging. There have been several instances when people have complained that their transaction was rejected for technical reasons when the machine ran out of money. Even worse is when the ATM rejects your transaction but you still get an SMS letting you know that the money has been taken out of your account.
Normally, there is an immediate follow-up SMS by the bank that lets you know that the amount you had sought to withdraw has been re-deposited in your account. But sometimes it may become worrisome if the amount is very big.
Generally money getting deducted from bank and ATM not dispensing cash happens due technical (faulty) or logistical (dry ATM when the ATMs run out of cash) issues.
If you too face a similar situation where money was deducted from bank, ATM didn’t dispense cash, here is what you need to do:
Usually money is reversed in the account immediately after a faulty transaction, however, if you still haven’t got your money back you could call up either the bank customer care or visit the branch. It is most likely that you will soon find the solution. However, should your issue escalate further and there is no redressal for your grievance, you could inform the ombudsman i.e the RBI, or you could take a legal recourse too in serious matters.
