Settlement of Wrong / Failed ATM Debits

After the RBI has allowed interbank ATM transactions, the case of Wrong / Failed ATM debit transaction have risen considerably. Many have asked on how to go about the settlement of Failed ATM Debits. Here is the complete procedure to claim your Refund in case of Wrong /Failed ATM Withdrawal Transaction and Rights in case the Refund is delayed.

  • Draft a Letter to your bank with the following details of Failed Transaction – Date, Time, ATM ID [If Known], Last Four Digits of Card Number with your Name as Printed on card, Transaction ID / Number and finally the disputed amount
  • Enclose a copy of transaction receipt from ATM, if any [You keep the original with you]
  • Ask the bank to settle the case within 12 working days as per RBI Notification – RBI/2009-2010/100 DPSS No.101 /02.10.02/2009-2010 dated July 17th, 2009
  • Finally, make two copies of the letter and get signature and seal of the bank on a copy of the letter
  • If disputed transaction amount is not settled in 12 days, as per the abovesaid RBI Notification, you are entitled for compensation of Rs.100/-, per day until the settlement is done.

You can post your questions and comments on CardBhai Forum.

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