What happens if my account is debited for a card transaction at an ATM, but I do not get the money?

This is a very common occurrence wherein a user swipes his/her card at an ATM machine but the cash withdrawal is unsuccessful. In fact, according to data released by RBI, about 16,000 complaints, or 10% of all customer grievances at the banking ombudsman offices in FY18, were registered under the head ‘account debited but cash not dispensed at ATM.’

What’s worse is that debit card and ATM-related complaints saw a 50% jump in FY18 year on year.

You can raise a complaint with your issuing bank and it will resolve the issue by re-crediting your account within 7 working days from the date of complaint. If the bank that’s issued does not pay the amount within 7 working days, then it will have to pay compensation of Rs. 100 per day for delay in re-crediting the amount.