It has become essential to have an ATM (automatic teller machine) card, which is also a debit card linked to your bank account, to make cash withdrawals and make POS (point of sale) transactions – using the card in lieu of cash payment to a merchant, hotel and so on. Its usage is increasing by the day. Today virtually everybody, students, housewives, salaried persons, businessmen, pensioners, the elderly, has one. The ATM is normally a 24/7 service machine and there is no holiday for it unless there is a system breakdown.
No more is there a need to visit a bank to withdraw money. Now you can also make deposits in cash deposit machines. Banks send automatically generated text messages to the registered mobile number of account-holders as soon as money is credited or deposited or withdrawn or taken out through other means, in a particular savings bank account. If you do not have this facility you can visit the bank branch and ask them to get it activated by including your mobile number in your account. Whenever you receive in your account payments from salary, pension, stipend, subsidy or any kind of monetary assistance, you will receive this SMS stating that your account is credited and indicating the available balance. Likewise, you get an alert for amounts withdrawn also.
When you want to withdraw money any time, 24/7, you can visit any ATM of your own bank preferably or of any other bank. It is very simple and the language of the ATM giving directions to use the facility is bilingual. You can choose your convenient language. It is easy and user-friendly:
There is also a display in the ATM machine showing how and in which direction and where the card is to be inserted. After a few seconds you can remove it. The name of the card-holder will be displayed. You can select the language. Then, whatever steps the machine shows or directs you, you have to simply follow without any undue time-lapse.
Normally an ATM machine will ask for your four-digit PIN number and type of account: savings bank (most of the holders of an ATM card will have this type of account) or current account, meant of business people. The other one is of the credit card-type. After selecting this type of account you have to mention the amount to be withdrawn. When the requested amount comes out, remove the card safely and quickly and the process will come to a conclusion.
Do not share your PIN number with anybody, including staff members of the bank. There is a menu in the ATM system to change your PIN number as you please. Memorise it. You can choose a number that you would not forget easily but will not be easily guessed by a clever hacker who, for example, could easily find out your birth date and try different permutations and combinations around the numbers.
Thus, the procedure is simple. But problems arise when an ATM transaction fails, that is, your account is debited (the available balance gets reduced for the requested amount) but the requested money is not dispensed by ATM.
If you find that your account is debited twice but cash was given only once, or your account is debited but cash is not dispensed by an ATM, don’t panic. It is only a temporary inconvenience. If you face such an incident, please make a formal complaint either in person to the bank or online (now most of the banks have the facility on their websites). In the complaint format you have to submit the following correctly and carefully:
1. Your SB account number / ATM card number and your name
2. Date of transaction
3. Identification number of the ATM: Each ATM machine has its own ID. It indicates the name of the bank and its location in a unique manner. For example, if it is S1AA0251, it indicates that the name of the bank is Indian Bank and its location ID is Anna Nagar, Chennai. Likewise, each bank ATM will have a unique number. You can find the number on the machine in relation to which you have a dispute in the SMS sent to you or in your bank passbook / statement of account.
4. Time of transaction.
5. Sequence number of transaction
6. Amount under dispute.
These particulars may be available in the print-out given out by ATM. If you are not able to get a print-out, submit the correct known particulars in the complaint format and get an acknowledgement.
If you are unable to differentiate, please lodge a complaint for all doubtful transactions. But don’t make complaints with regard to genuine transactions unnecessarily. Be specific in making a complaint.
The bank is bound to settle the dispute within seven working days of the date of the complaint. If the bank claims that the failed / disputed transaction is successful, it has to give proper proof of payment as evidence. You have the right to ask for CCTV footage from the bank if you are not satisfied. If there are two debit transactions of ATM withdrawals of similar amounts, say Rs.10,000 each, or for that matter any doubtful amount, you have to lodge a complaint for all doubtful transactions and get proof for them for evidence of payment.
Hence, you have to do persistent follow-up with the bank, till your dispute is resolved to your satisfaction. It is always better and advisable to scrutinise each and every entry of transaction in your bank pass book / statement. If you find any entry to be suspicious or doubtful, make a proper enquiry with the bank and get it resolved.
If your complaint is not resolved to your satisfaction, you can approach the Banking Ombudsman: the address will be displayed in every bank branch. He is the quasi-judicial authority appointed by the Reserve Bank of India in exercise of powers conferred on it under Section 35A of the Banking Regulation Act, 1949 to enable resolution of complaints relating to certain services (including ATM failures) rendered by the bank. The bank will solve your disputes in a satisfactory manner within one month. If a complaint is not settled by an agreement within a period of one month, the Banking Ombudsman will pass an award after providing a reasonable opportunity to the complainant and the bank to present their case. It is up to the complainant to accept the award in full and final settlement of a complaint, or to reject it.
As per RBI norms, the time limit for the resolution of customer complaints by banks is seven working days from the date of receipt of a complaint. Failure to re-credit a customer’s account within seven working days shall entail payment of compensation at the rate of Rs. 100 a day by the issuing bank. The claim should be lodged with the bank that has issued the ATM card within 30 days of the transaction.
An ATM is a friend in need, and don’t hesitate to use it. You can use an ATM machine both for deposits and withdrawals. To deposit cash there is a machine called BNA (Bunch / Bulk Note Acceptor) / bank cash recyclers / cash deposit accepting machine, from which also you can withdraw cash just like a normal ATM since it is a recycling machine. Just like a limit exists for ATM withdrawals, there is a limit for acceptance of cash. Normally it will accept 200 notes per deposit in a mix of Rs.2,000 / Rs.500 / Rs.100 denominations up to a limit of Rs.2 lakh in a single transaction. The deposited account will be credited in the specified account instantly. It is an online transaction. You will get a printout.
ATM cards are very useful. In addition to cash withdrawals, they can be used in non-cash transactions such as payment to grocery shops, vendors, ticket booking, online bill payments and so on. Keep the card with you always, and remember the PIN. Do not write the PIN on a piece of paper and keep it with the ATM card. Keep it in confidence and use it carefully.
The author was a Senior Manager with Indian Bank. Email: pjeyasankargps@gmail.com