Elearnmarkets - Financial Market Learning
  • Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • English
    • Hindi
    • Bengali
No Result
View All Result
  • Courses
  • Webinars
  • Learn On Elearnmarkets
Elearnmarkets - Learn Stock Market, trading, investing for Free
  • Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • English
    • Hindi
    • Bengali
No Result
View All Result
  • Courses
  • Webinars
  • Learn On Elearnmarkets
Elearnmarkets - Learn Stock Market, trading, investing for Free
No Result
View All Result
Home Basic Finance
4 Safeguards for Failed ATM transaction 1

4 Safeguards for Failed ATM transaction

Elearnmarkets by Elearnmarkets
December 8, 2021
in Basic Finance, Banking
Reading Time: 3 mins read
0
815
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp
Join TMP Join TMP Join TMP

Hindi: आप इस लेख को हिंदी में भी पढ़ सकते है|

Knowing how to handle transactions via an ATM is an integral part of money management. To learn more about managing your money, join our course to gain a Certification in Online Financial Planning & Wealth Management via Elearnmarkets.

Have you ever faced the failed ATM transaction?

Also Read: How to Withdraw Money from ATM Machine?

Well, one of my cousins did.

She had an account in X bank and withdrew money from the ATM of Y bank.

While her transaction showed processed, she did not get any cash and received a message saying that her account has been debited for Rs. xxxx

She thought that there may be some error and went to X bank.

What followed next is the subject of our discussion.

We will know in this article as to whether it was actually an error?

Whether my cousin did get the money back?

What procedure was involved?

What steps should you take in case of a failed ATM transaction?

When she went to X bank baffled and explained the manager of the transaction error, the manager asked her the following questions and explained her following:

  1. In case of transaction error, the customer should keep the transaction slip generated. This transaction slip contains the important information such as the issuing bank’s name(Y bank in this case), time of withdrawal, ATM# code, and other additional details. The details on transaction slip will help them detect the reason for the error.
  1. File a written complaint with both the X and Y bank, since X bank is the bank you hold the account and Y is the bank from whose ATM you had tried to withdraw money.
  1. Always remember that do not wait and panic that your money is gone. Immediately follow the aforementioned steps. Delay results in failure of data tracking and then you many have trouble in recovering the money back.
  1. Most likely, the amount is credited back to the customer’s bank account (X bank in this case) within seven days of the failed transaction.

4 Safeguards for Failed ATM transaction

Also, there is penalty levied against the bank in case it is not returned within seven days, provided you have filed the complaint within 30 days from the date of the transaction error.

Know More: Cardless Cash Withdrawal at ATM!

My cousin immediately followed the above steps and also got her money back within 7 days.

Bottomline:

In case you do not get it in the mentioned time, consult a legal advisor, who will surely guide you to get the money credited back in your account.

This means that in whatsoever the situation may be, do not panic.

Go to the respective authority, ask for the procedure and follow that promptly.

Always remember one thing; where there is a problem, there is a solution too.

You only need to follow the right approach.

We hope that after reading this article, you yourself will be able to guide anyone as to the steps to be followed in case of any transaction failure at the time of ATM withdrawal.

To avoid transaction error go for mobile banking. Learn here how to do Mobile Banking.

Happy Learning!!

Tags: ATMenglish
ShareTweetSend
Previous Post

Market Wrap for 12th September 2016:Nifty continues to plunge

Next Post

Market Wrap for 14th September, 2016

Elearnmarkets

Elearnmarkets

Elearnmarkets (ELM) is a complete financial market portal where the market experts have taken the onus to spread financial education. ELM constantly experiments with new education methodologies and technologies to make financial education effective, affordable and accessible to all. You can connect with us on Twitter @elearnmarkets.

Related Posts

5 Best Practices in Your First Year of Stock Market Trading 2
Basic Finance

5 Best Practices in Your First Year of Stock Market Trading

May 15, 2023
1.5k
Understand the MSCI Index and its Rebalancing Impact on the Indian Stock Market 3
Basic Finance

Understand the MSCI Index and its Rebalancing Impact on the Indian Stock Market

May 12, 2023
2.2k
Tax Planning - 7 Changes in the Indian Financial Environment that you need to know this Financial Year! 4
Basic Finance

Tax Planning – 7 Changes in the Indian Financial Environment that you need to know this Financial Year!

April 18, 2023
1.3k
Last-Minute Tax Planning- 5 Common Mistakes that Taxpayers Make 5
Basic Finance

Last-Minute Tax Planning- 5 Common Mistakes that Taxpayers Make

April 12, 2023
1k

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Facebook-f Twitter Instagram Linkedin-in Youtube Telegram

Register on Elearnmarkets

Continue your financial learning by creating your own account on Elearnmarkets.com

Register Free Account

Download App

Categories

  • Basic Finance
  • Derivatives
  • Financial Planning
  • Fundamental Analysis
  • Technical Analysis
  • Marketshala
  • Miscellaneous

Popular On Elearnmarkets

  • Market Superheroes:
  • Vivek Bajaj
  • Chetan Panchamia
  • Ashish Kyal
  • Premal Parekh
  • Abhijit Paul
  • Jegan
  • Sivakumar Jayachadran
  • Vishal Malkan
  • Jyoti Budhia
  • Vivek Gadodia
  • Vishal Mehta
  • Piyush Chaudhry
  • Santosh Pasi
  • Gomathi Shankar
  • Market Superheroes:
  • Vivek Bajaj
  • Chetan Panchamia
  • Ashish Kyal
  • Premal Parekh
  • Abhijit Paul
  • Jegan
  • Sivakumar Jayachadran
  • Vishal Malkan
  • Jyoti Budhia
  • Vivek Gadodia
  • Vishal Mehta
  • Piyush Chaudhry
  • Santosh Pasi
  • Gomathi Shankar
  • Courses:​
  • Options Trading
  • Dow Theory
  • Momentum Trading
  • Stock Investing
  • Stock Market for Beginners
  • Harmonic Chart Patterns
  • Algo Trading
  • Elliot Wave Theory
  • Advanced Excel
  • Cryptocurrency
  • NSE Certification Course
  • Courses:​
  • Options Trading
  • Dow Theory
  • Momentum Trading
  • Stock Investing
  • Stock Market for Beginners
  • Harmonic Chart Patterns
  • Algo Trading
  • Elliot Wave Theory
  • Advanced Excel
  • Cryptocurrency
  • NSE Certification Course
  • Webinars:
  • Bank Nifty Scalping
  • Intraday Trading Strategies
  • Options Trading Strategies
  • Options selling
  • Price Action
  • Relative Strength
  • Tax Planning
  • Options Buying
  • Growth Stocks
  • Portfolio Management
  • Relative Strength Index
  • Risk Management
  • Renko Charts
  • Crude Oil
  • Traders Psychology
  • Moving Average
  • Multibagger Stocks
  • Webinars:
  • Bank Nifty Scalping
  • Intraday Trading Strategies
  • Options Trading Strategies
  • Options selling
  • Price Action
  • Relative Strength
  • Tax Planning
  • Options Buying
  • Growth Stocks
  • Portfolio Management
  • Relative Strength Index
  • Risk Management
  • Renko Charts
  • Crude Oil
  • Traders Psychology
  • Moving Average
  • Multibagger Stocks
  • Free Learning Modules:
  • Intraday Trading
  • Options Scalping
  • Swing Trading
  • Financial Modelling
  • RSI Indicator
  • Bollinger Bands
  • Pricing of Futures
  • Personal Finance
  • Initial Public Offerings (IPO)
  • Value Investing
  • Technical Indicators
  • Candlesticks
  • Chart Patterns
  • Option Greeks
  • ELSS Funds
  • Banking and Insurance
  • Real Estate
  • Gold
  • Free Learning Modules:
  • Intraday Trading
  • Options Scalping
  • Swing Trading
  • Financial Modelling
  • RSI Indicator
  • Bollinger Bands
  • Pricing of Futures
  • Personal Finance
  • Initial Public Offerings (IPO)
  • Value Investing
  • Technical Indicators
  • Candlesticks
  • Chart Patterns
  • Option Greeks
  • ELSS Funds
  • Banking and Insurance
  • Real Estate
  • Gold
  • Book Summaries:
  • Rich Dad Poor Dad
  • Psychology of Money
  • The Intelligent Investor
  • The Richest Man in Babylon
  • Think and Trade Like a Champion
  • Value Investing and Behavioural Finance
  • Trading in the Zone
  • Learn to Earn
  • Book Summaries:
  • Rich Dad Poor Dad
  • Psychology of Money
  • The Intelligent Investor
  • The Richest Man in Babylon
  • Think and Trade Like a Champion
  • Value Investing and Behavioural Finance
  • Trading in the Zone
  • Learn to Earn
  • Tools:
  • CAGR Calculator
  • SIP Calculator
  • eLearnOptions
  • Future Value Calculator
  • Present Value Calculator
  • Atal Pension Yojana
  • Cost of Delay Calculator
  • Become a Crorepati
  • Tools:
  • CAGR Calculator
  • SIP Calculator
  • eLearnOptions
  • Future Value Calculator
  • Present Value Calculator
  • Atal Pension Yojana
  • Cost of Delay Calculator
  • Become a Crorepati

© 2023 Elearnmarkets. All Rights Reserved

  • Visit Elearnmarkets
  • Courses
  • Webinars
  • Financial Guides
  • Get Free Counselling
  • Visit Elearnmarkets
  • Courses
  • Webinars
  • Financial Guides
  • Get Free Counselling

Get Elearnmarkets App

No Result
View All Result
  • Article Categories
    • Basic Finance
    • Derivatives
    • Financial Planning
    • Fundamental Analysis
    • Technical Analysis
    • Marketshala
    • Miscellaneous
  • Language
    • Hindi
    • Bengali
    • English
  • Courses
  • Webinars

© 2020 Elearnmarkets All Rights Reserved