Transaction failed but amount deducted from account.,?

Question

Hello, i shekhar v swamy has done transaction on 1/9/2015 of Rs12, 500/- from union bank ATM branch Jail road ATM 111 at 11:55 AM and my account number is XXXXXXXXXXXXX0060 Branch Code: 559687. The machine showed "WAIT TRANSACTION IN BEING PROCESSING" but after waiting i did not get any amount. I complaint in the bank along with the application but they responded after 2 months that the transaction was successful. i asked them to check the footage of that days transaction but they denied. Please look into this matter seriously. my cell phone number is xxxxxxxxxxx4050 hopping for positive response. thanking you yours faithfully, shekhar v swam

 

Answer 1

Mr.Swamy,

At the outset, let me clarify that this site is designed by a group of senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

As regards your complaint, let me clarify that these days, banks ATMs are designed to dispense cash without fail. That is, if a cash withdrawal transaction is successful it is presumed that the machine has dispensed cash. On the contrary, if the transaction is unsuccessful, system auto reverses the debit transaction and credits the amount back to the account. If your account had been debited on 1.9.2015 you would have immediately received as SMS alert. You are silent about this. I find many other gaps in your statements. 

If your account has been debited but no cash was dispensed, the bank has to account for the amount. You are justified in asking for CCTV footage for viewing what exactly transpired during the transaction process and satisfy yourself. If the bank does not have the CCTV footage, it has to satisfy you explaining what exactly happened with the amount debited to your account which you claim you have not received. 

If you still have a strong reason to pursue the case then I suggest you to first write to the Nodal Officer of your  bank, narrating the sequence of events,  through email or letter. You can find out the details of the Nodal Officer from the bank’s website.

In case you do not receive a response or the response is not satisfactory and you still feel aggrieved for valid reasons  you can lodge a complaint with the Banking Ombudsman for resolution. For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/

 

Regards

 

J R Mohandas