Simple Procedure for REVERSAL OF FAILED ATM TRANSACTIONS.

A common complaint amongst ATM users is that their respective account has been
debited, but the necessary cash has not been received by them. And, in this era of
centralization, customers are facing difficulties in resolution of their
complaints.

The delays in resolving the issues are primarily due to submission of incomplete
data by customers to the respective banks.
The ATM Transaction Slip, is the most important piece of paper in an ATM
Transaction.
The ATM Transaction Slip, contains all or most of the following information:-
01) Name of the ATM Bank
02) Location
03) Date of transaction
04) Time of transaction
05) Transaction reference number
06) Response Code
07) Card No/Account Number- only the last 3-4 digits will be visible
08) Nature of Transaction

Today, I will try to explain a simple procedure for REVERSAL OF FAILED ATM
TRANSACTIONS.

01) Preserve the Original ATM Transaction Slip. This is the most important piece
of paper required to substantiate your amount claim. ------- -- -- Many of the
today’s ATM’s indicate that the paper is not available to generate ATM Transaction
Slip, and request to proceed further. If the paper is not in stock, DO NOT execute
the transaction, cancel the transaction and proceed to the next ATM.
02) Scan/Xerox the Original ATM Transaction Slip, as the ink of the Original ATM
Transaction Slip, will fade after a week. You will find that the Original ATM
Transaction Slip, has turned into a harmless white paper!!!!!!!!
03) Call up the customer care number of the ATM Bank, and inform the complaint
details. Insist on a complaint number. This will help in tracking the complaint
and the time-frame of resolution.
04) Call up the customer care number of the your Bank, and inform the complaint
details. Insist on a complaint number. This will help in tracking the complaint
and the time-frame of resolution.
05) Email the complaint to the customer care department of the ATM Bank and your
Bank, as early as possible.

As per the latest Reserve Bank of India, guidelines, It is mandatory for the banks
to reimburse the customers, the amount wrongfully debited on account of failed ATM
transactions, within a maximum period of 12 working days from the date of receipt
of the customer complaint.
ii) For any failure to re-credit the customers account within 12 working days from
the date of receipt of the complaint, the bank shall pay compensation of Rs.100/-,
per day, to the aggrieved customer. This compensation has to be credited to the
customer’s account automatically without any claim from the customer, on the same
day when the bank affords the credit for the failed ATM transaction.
Please refer
http://prashantnepayments.blogspot.com/2009/07/atm-related-complaints-on-rise.html
Hence, if the disputed amount is not credited within 12 working days of lodging
the complaint, you will be eligible for compensation of Rs.100/- per delayed day
of credit. So, the earlier you lodge the complaint (proof required), the better it
will be for you.

From the date of complaint lodgment, wait for 12 days and than verify your account
for the credit. If the amount is not credited, escalate the complaint to the next
level.

Help the Banks, to resolve your ATM Complaints faster,efficiently.