ATM Transaction Declined but Amount got Deducted : 7 Steps to Recover Money

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ATM transaction Declined but amount got deducted. You will definitely get your money back. In case you do not, follow these steps.
  1. Follow up with the bank on their customer care number. It might have been delayed due to a technical fault.
  2. If Not solved?- Visit the nearest bank branch and get them to solve your problem and get an assurance from them.
  3. Again Not satisfied? – Meet the Branch Manager if they still do not take action.
  4. Problem still not solved? – Grievance Cell – This is an exclusive unit dealing with customer grievances and headed by an executive of the rank of general manager. The complaints posted directly on the bank’s website are also resolved by this department.
  5. If the problem still persists – Banking ombudsman – This is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in banking services, as per its scheme introduced in 1995. All scheduled commercial banks, regional rural banks and scheduled primary cooperative banks are covered under the scheme. So far, there are 15 ombudsmen, whose offices are located mostly in state capitals. Their addresses and contact details are available on the RBI website.
  6. Still not solved? –National Consumer Disputes Redressal Commission http://ncdrc.nic.in/ – These are by far the biggest guys in the space and have some real powers to hold the bank accountable for harassment.
    1. Still troubled? – Legal Route – Go to the nearest District Court and sue the bank! This is the last and final resort available to you as a citizen of India. You may go on and fight a case, and even slap charges on the bank for recovery of legal costs.
    2. Banks these days are quick in resolving such complaints and you can rest assured, you will get your money back without any Problem.

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