ATM transaction failed? Amount deducted? Know what RBI says- Re-credit, compensation, here is all you need to know
As per the information provided by the Reserve Bank of India in case of a failed ATM transaction when your account is debited, the bank is supposed to reverse such transactions on its own.
Automated Teller Machine or ATM is a computerised machine which is used by bank account holders mainly to withdraw cash and to carry out other financial and non-financial transactions without the need to visit the bank branch.
However, have you wondered what will happen in case of a failed ATM transaction when your account is debited?
As per the information provided by the Reserve Bank of India (RBI) if such incidents happen then the banks are supposed to reverse such transactions on their own. However, it is always a good practice to lodge a complaint with the card issuing bank or ATM owner bank at the earliest.
See Zee Business Live TV Streaming Below:
https://rbi.org.in/Scripts/AboutUsDisplay.aspx?pg=BankingOmbudsmen.html.Or one can also make an online complaint at https://cms.rbi.org.in/cms/IndexPage.aspx?aspxerrorpath=/cms/cms/indexpa...
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