This is How You Can Refund Failed ATM Transactions in 7 Days
A failed ATM transaction in India usually results in loss of the money involved in the transaction. This is How You Can Refund Failed ATM Transactions in 7 Days. Usually, the issuing bank deposit back the failed transaction amount into the account of the victim within seven days from the date of filing a complaint. Keep in mind that any delay by the issuing bank beyond 7 days will results in the levy of penalty on the bank at the rate of Rs. 100 per day. But the victim has to file the complaint within 30 days from the date of failed ATM transaction. Here are few steps to Get Cash Back.
Issuing Bank Branch
Visit the Issuing bank branch to Refund Failed ATM Transaction amount. Usually the issuing bank officials tell victims that there is no need to file any complaint and their money gets automatically credited to the account within 7 days. Sometimes, these officers tell the victims to make complaint on telephone to their helpline. If something like this is told to you, remember that an unconcerned bank officer is trying to misguide you. It is nothing authentically wrong to make a telephonic complaint to their helpline and obtaining a complaint number. But a faithful officer always files a written complaint immediately to protect your legal rights.
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Documents Required to file a Complaint
While lodging complaint, you must ask bank to submit these documents.
- Copy of account statement showing the disputed transaction
- Copy of EJ/JP Log (Electronic Journal / Journal Print) of failed transaction.
- EOD Report (End of Day Reconciliation Report) and Cash Verification Report of the ATM for the date of transaction
- ATM camera and CCTV camera recordings for the failed transaction on a CD/DVD
- Switch Report of transaction
Use Right To Information Act
In case the issuing bank does not give the documents asked by the victim and it happens to be a public sector bank, it is advisable to use Right to Information Act and the victim will definitely get the documents and recordings.
Approach Banking Ombudsman officer for any complaint related to the ATM. Ombudsman Officer hears to the complaint of bank related matters. Ombudsman investigates the exact situation by checking the daily account of the bank.
Just in case you failed to get sufficient help from Ombudsman Officer to Refund Failed ATM Transactions, consumer Court is also an option for you. This court deals with cases concerning consumer disputes and grievances.
In any case of any fraudulent act, you can go to the police and file a FIR, but the Police usually take long time to act.
For any other problem related to ATMs, you should first complain in your own bank. If no action is taken for a month, you can file a complaint in the banking ombudsman office. If you do not want to go to the Ombudsman then you can also get help from customer court.
This is How You Can Refund Failed ATM Transactions in 7 Days. For more informative stuff, stay connected with us only at coolexample.in