We all know that India runs on cash as most Indians prefer cash transactions over digital payments. Normally, people who prefer cash transactions withdraw cash from ATMs using their debit or credit card. ATMs are very useful as they have eliminated the need to stand in long queues at banks to withdraw cash. Sometimes the money you withdraw from ATMs gets stuck in the ATM, but the amount gets debited from your bank account.
The cash getting stuck at the ATMs is one of the major flaws and this might happen due to errors or fraud. Even though this issue can be resolved, it might create a lot of anxiety. This can be even more frustrating if you are running out of cash. So, in this blog, we will discuss, what are the steps you must take, when cash is stuck in an ATM.
In some cases, the ATM operator or the bank will know that your money is stuck in the ATM, due to some error and will fix it by crediting the money to your bank account, even before you contact them. In this case, if the bank fails to do so, you must take the following steps.
If the cash is stuck in the ATM, do not leave the ATM immediately, as it might be a trick used by fraudsters to steal your money. If you leave the ATM immediately, the fraudster can hack the ATM and steal your cash.
Before you leave the ATM, collect details of the ATM. This consists of the exact time of the transaction, date, and location of the malfunction. You must keep the receipt of the debited amount and digital records of your bank statement.
In case the money is stuck in the ATM, you must report it to the bank or card issuer immediately. Each bank or credit card company has a dedicated customer care to look into customer issues. You can find the customer care number on the back of your card or on the official website of the bank or credit card issuer.
You can get the money back, only if you have used your debit or credit card to withdraw cash. As per rules, the cardholder is not supposed to share his card or PIN number with anyone including spouse, children, family or friends. In case the cardholder has allowed someone to use his card and the money is stuck in the ATM, the amount will not be refunded by the bank. The bank will state that the cardholder was not present while withdrawing money.
To avoid this issue in the future, never use the ATM where your money was stuck. It is advisable to use the ATM which is located at your bank branch. The ATM must have a security guard and a well equipped camera system.
See Also: Things to do on a Failed ATM transaction
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