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Failed ATM transaction but money debited?

You might have come across this situation at some point of time. You visit an ATM to withdraw money, swipe your card, enter the pin and amount but the ATM throws up some error and doesn’t let out any money. And to your dismay, you receive message on your mobile that the money has been debited from your account for a failed transaction. Quite a frustrating situation this is.

What to do with failed transactions?

Most people would freak out if its happening for the first time. A question then arises whom to contact for the refund; whether the bank which owns the ATM where you have tried withdrawing money or your bank (the ATM issuing bank). For example, you have a HDFC Bank ATM and tried withdrawing money from a State bank ATM. In case the transaction fails and results in money being debited, you should always contact the ATM issuing bank, which in this case is HDFC bank.

A lot of the ATM’s these days are on-site, which means the ATM is within the premises or within reaching distance of its home branch. You may visit that branch immediately for guidance but ultimately, to register your complaint, you must visit your bank branch. Most banks readily have a complaint form for ATM related complaints but you may even give in writing as an application describing the transaction details.

Instant ATM refunds

I have observed this quite a few times that in case the failed transaction happens in a home bank ATM, the amount gets refunded instantly. That is, if you were trying to use your HDFC Card in a HDFC ATM and the transaction gets failed, the amount gets instantly refunded. You can verify this by visiting any other nearby ATM. There’s no need to register any complaint in this case.

In case there are two different banks involved, refund will be processed going by customers complaint. A customer will have 30 days to register his complaint regarding a failed transaction. This can take time, as the banks have to verify the complaint details by tallying ATM amounts and disbursed amounts and there by settling the failed amount between themselves. It can take anywhere from 1 day to 7 days. In rare cases where the complaint is not settled with in 7 days, the customer is entitled to get Rs.100 per day, till the case is settled, provided the complaint turns out to be legit.

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