{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/current-account\/atm-not-dispensing-cash-account-debited\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/current-account\/atm-not-dispensing-cash-account-debited\/","headline":"What to Do When an ATM Does Not Dispense Cash, but the Current Account Is Debited?","name":"What to Do When an ATM Does Not Dispense Cash, but the Current Account Is Debited?","description":"The inconvenience of “account debited but cash not dispensed” is a situation no one wants to be in. ATM transactions are usually quick, secure, and hassle-free. However, sometimes things can go wrong, like when the ATM fails to release cash, but the amount is still deducted from your current account. This situation can be quite...","datePublished":"2024-11-26","dateModified":"2024-11-27","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/vinayak\/#Person","name":"Vinayak","url":"https:\/\/www.indusind.com\/iblogs\/author\/vinayak\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/83880c90630f0d98ec7d461acb74bdf6?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/83880c90630f0d98ec7d461acb74bdf6?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/What-To-Do-When-ATM-Does-Not-Dispense-Cash-But-current-Account-Is-Debited-1.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/What-To-Do-When-ATM-Does-Not-Dispense-Cash-But-current-Account-Is-Debited-1.jpg","height":288,"width":764},"url":"https:\/\/www.indusind.com\/iblogs\/current-account\/atm-not-dispensing-cash-account-debited\/","about":["Current Account"],"wordCount":1179,"articleBody":"The inconvenience of “account debited but cash not dispensed” is a situation no one wants to be in. ATM transactions are usually quick, secure, and hassle-free. However, sometimes things can go wrong, like when the ATM fails to release cash, but the amount is still deducted from your current account. This situation can be quite frustrating and stressful as it disturbs your day and creates unnecessary concerns about the safety of your funds. Fortunately, such issues are manageable, and banks follow clear regulations to resolve them. Let\u2019s go through the steps you should take if this ever happens to you so that your hard-earned money is credited back to your account.Step 1: Check Your Transaction StatusIn several instances, ATM transactions get declined due to technical issues, but the money is usually credited back to your current account within a few minutes or hours. So, first check your mobile banking app or internet banking to confirm if the transaction has actually taken place. Sometimes, it may appear as a \u201cpending\u201d transaction, which will clear on its own. However, if the money has been debited, you will have to take the steps mentioned below.Step 2: Save the Transaction Slip or Record the DetailsIf the ATM issues a transaction slip, keep it safe. If it doesn’t, note the date, exact time, and location of the failed transaction. You could use your transaction alert or bank statement as a reference. These details are crucial for reporting the incident accurately. Step 3: Contact Your Bank Right AwayContact your bank\u2019s customer care service immediately if the ATM fails to dispense cash, but your account was debited. This can typically be done through the bank’s toll-free helpline number or their mobile app. Share all the details of the failed transaction, such as the ATM location, the transaction time, and the exact amount deducted.Step 4: Wait for Automatic Reversal as per RBI GuidelinesAs per the guidelines of the Reserve Bank of India (RBI), banks must resolve ATM transaction disputes within a maximum of T+5 days from the date of the complaint. If the bank fails to return the amount within this time frame, they are liable to compensate you with a penalty of \u20b9100 per day for the delay. Hence, keep track of the timeline.What to Do if You Used a Non-Bank ATM to Withdraw Cash?If you withdraw from an ATM that doesn\u2019t belong to your bank, the process for resolving issues is the same. However, the resolution might take a bit longer since both banks need to communicate. Make sure to still contact your own bank to handle the problem, not the bank that owns the ATM. They will look into the matter and coordinate to resolve the issue.Also Read: Do\u2019s and Don\u2019ts of Getting a Current AccountChoose Indus Select Current Account by IndusInd Bank for Secure TransactionsOpen a current accountwith a bank that has a strong reputation, excellent customer service, and robust online platforms for resolving issues quickly. It makes sense to switch to  Indus Select Current Account by IndusInd Bank to transform your banking experience, particularly in handling ATM and other transaction issues smoothly.With real-time transaction alerts and robust monitoring tools, it is possible to verify and report any irregularities directly and immediately through the highly responsive customer service team.Look at the other features of this digital current account:FeaturesDetailsQuick account openingOpen a current account online quickly and easily, without no branch visitsCustomisable account numberSelect your desired account number with the \u201cMy Account My Number\u201d featureAuto-sweep facilityAutomatically transfer surplus funds to linked fixed deposits to earn interest while maintaining liquidityDoorstep bankingAvail services like cheque pickup and cash delivery or pickup at your preferred locationOnline and mobile BankingManage your account 24\/7 digitally with easy access through online and mobile banking platformsApply today and open a current account with IndusInd Bank today!Key TakeawaysAn account being debited but cash not received is undoubtedly a stressful situation. By verifying transactions, recording crucial details, contacting your bank immediately, and allowing time for automatic reversals, you can manage these incidents with less stress. Keep track of the communication for future reference.For a hassle-free banking experience, consider opening an Indus Select Current Account. Get 24\/7 customer support and user-friendly online platforms for fast resolution of any issues. You will also benefit from higher transaction limits, doorstep banking services, customisable account numbers, and free RTGS\/NEFT\/IMPS transactions.Apply Now!Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Share This:"}