Is it true that the Reserve Bank of India (RBI) has rules for failed card transactions at ATMs?
Answer 
Yes, the central bank has some rules in place to protect customers in failed card transactions.
These rules are applicable to failed transactions at other bank ATMs and white label ATMs; white label ATMs are those that are set up, owned and operated by non-bank entities. These ATMs provide banking services to customers, based on the cards (debit/credit/prepaid) issued by banks.
Here are the other RBI rules you should know about if your card transaction at an ATM fails but your account gets debited of the amount. Please note, these rules are applicable to failed transactions at other banks ATMs and white label ATMs (WLAs) too:
1.Irrespective of use of card at own bank ATM or other bank ATM or WLAs, a customer should lodge a complaint with the card issuing bank as soon as possible.
2. As per the RBI, banks are required to display the name(s) and the contact number(s) of concerned officers / toll free numbers / help desk numbers in the ATM box. Similarly, in WLAs, contact numbers of officials / helpline numbers also have to be put up to enable filing of complaints.
3. If transaction at ATM fails but your account is debited then the card issuing bank is required to resolve your complaint by re-crediting your account within 7 working days from the date of complaint.
4. Effective July 1, 2011, the card-issuing bank is required to pay compensation of Rs. 100 per day for delay in re-crediting the customer’s amount beyond 7 working days from the date of receipt of complaint regarding failed ATM transactions (where the customer’s account is debited). The compensation has to be credited to the customer’s account without any claim being filed by the customer. However, to be eligible for compensation, the customer has to file the complaint within 30 days of the transaction.
5. If the complaint is not addressed by the customer’s bank within the stipulated time or not addressed to the customer’s satisfaction, the customer can complain to the banking ombudsman within 30 days of receiving reply from the bank or in case of non-receipt of a reply from the bank within 30 days of lodging the complaint.
Yes, the central bank has some rules in place to protect customers in failed card transactions.
These rules are applicable to failed transactions at other bank ATMs and white label ATMs; white label ATMs are those that are set up, owned and operated by non-bank entities. These ATMs provide banking services to customers, based on the cards (debit/credit/prepaid) issued by banks.
Here are the other RBI rules you should know about if your card transaction at an ATM fails but your account gets debited of the amount. Please note, these rules are applicable to failed transactions at other banks ATMs and white label ATMs (WLAs) too:
1.Irrespective of use of card at own bank ATM or other bank ATM or WLAs, a customer should lodge a complaint with the card issuing bank as soon as possible.
2. As per the RBI, banks are required to display the name(s) and the contact number(s) of concerned officers / toll free numbers / help desk numbers in the ATM box. Similarly, in WLAs, contact numbers of officials / helpline numbers also have to be put up to enable filing of complaints.
3. If transaction at ATM fails but your account is debited then the card issuing bank is required to resolve your complaint by re-crediting your account within 7 working days from the date of complaint.
4. Effective July 1, 2011, the card-issuing bank is required to pay compensation of Rs. 100 per day for delay in re-crediting the customer’s amount beyond 7 working days from the date of receipt of complaint regarding failed ATM transactions (where the customer’s account is debited). The compensation has to be credited to the customer’s account without any claim being filed by the customer. However, to be eligible for compensation, the customer has to file the complaint within 30 days of the transaction.
5. If the complaint is not addressed by the customer’s bank within the stipulated time or not addressed to the customer’s satisfaction, the customer can complain to the banking ombudsman within 30 days of receiving reply from the bank or in case of non-receipt of a reply from the bank within 30 days of lodging the complaint.