When withdrawing money from an ATM, sometimes the amount is debited from the bank account, but no cash is dispensed from the ATM. Most people get worried about their money in such situations. However, in such cases, your money is usually refunded. The bank refunds the money within 5 working days. If this doesn't happen, you can claim compensation. The process for getting your money back is very simple. If money is debited from your bank account while withdrawing from an ATM and the bank doesn't refund your money on time, you can file a complaint and claim compensation. You can file a complaint with the RBI's CMS (Complaint Management System). The complete process is explained below.
How to file a complaint if you don't receive your money back
This problem is very common and causes distress to people. When you withdraw money from an ATM and the machine malfunctions, the money is debited from your account, but you don't receive the cash. In such a situation, the bank usually refunds your money within a short time. However, if your money is not refunded, you can file a complaint by following the steps mentioned below.
Follow these steps to file a complaint.
If money is debited but you don't receive the cash, save the message confirming the debit on your phone.
Note down the ATM location, date, and time.
File a complaint within 24 to 48 hours through your bank's mobile app, net banking, or customer care.
According to RBI rules, the bank refunds the debited amount within 5 working days of the transaction.
If the money is not refunded, file a complaint on the RBI's Complaint Management System (CMS) at cms.rbi.org.in.
Note that if the bank does not refund the money even after the RBI's stipulated time limit, you should receive compensation of Rs. 100 per day until the money is credited to your account. This rule has been created to provide relief to customers.
Disclaimer: This content has been sourced and edited from Navbharat Times. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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