Did not receive cash from atm but money debited from account? Here's what to do

It is possible for your transaction to get declined due to technical faults, or for the ATM to run out of cash. People are increasingly opting to pay online through UPI as digital

innovations progress. COVID-19 has also resulted in an increase in online payment methods, as many people believe that avoiding any form of interaction is a better alternative. Nevertheless,

ATMs dispensing cash remain significant in daily transactions across India. You may have stopped using ATM facilities for more transactions, but the service is still needed by everyone from

time to time. Where internet availability is poor, cash still plays an important role in our daily financial activity. ATM PROBLEMS Even if you are familiar with ATMs, it is possible for

your transaction to get declined due to technical faults, or for the ATM to run out of cash. In unlikely instances, ATMs reject transactions but the user receives an SMS indicating that

funds have been deducted from the bank account. There are mainly two reasons as to why this incident can happen Before providing the ATM card and PIN, it is always a good idea to

double-check the ATM. First, there could be technological concerns, even after the banks have conducted routine checks. In this situation, the money is automatically credited to your account

after a certain period of time, or the bank notifies you of the transaction. The second explanation could be fraud; in some cases, a skimmer device has been put into the card reader,

extracting all of your credentials from the magnetic strip. Additionally, your card could be cloned using the same stolen data, and money could be taken from your bank account without your

knowledge. But you don’t need to worry. There are several options for what to do in such situations *  CONTACT YOUR BANK’S CUSTOMER CARE SERVICE The first thing you should do is contact the

bank's customer service department. Any sum deducted from the account must be refunded to the client's account within seven working days of the complaint being lodged, according to

RBI guidelines. If not paid on time, they are entitled to Rs 100 every day of late payment. After keeping a record of your concern and capturing your transaction reference number, the

executive will file your report and offer you a complaint tracking number. And the authorities will look at the situation and probe it. * PERSONALLY SPEAK TO BRANCH MANAGER You can also make

a complaint by visiting the bank’s official website. Contacting a senior person makes it easier to settle any disputes or complaints. * CONTACT REGULATOR If none of the aforementioned

alternatives work, you may inform the Reserve Bank of India or the financial authorities. Such complaints can be made in writing, either by letter or on the internet. To receive your money

back, you must wait at least 30 days after filing a complaint.