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FAIL ATM TRANSACTION
Axis Bank pulled up for deficiency in service, ordered to refund Rs 5,000 and pay Rs 10K fine over failed ATM transactionA Nagpur consumer commission has ordered Axis Bank to refund Rs 5,000 and pay Rs 10,000 compensation. This follows a failed ATM transaction...15 Mar, 2026, 03.14 PM IST- Tit for TAT: Lenders seek reset of compensation rules on ATM fraudBanks are flagging a new ATM fraud to the Reserve Bank of India. This power-off fraud tricks systems into dispensing cash during withdrawal...17 Feb, 2026, 01.18 AM IST
- ATM withdrawals to get costlier from May 1 as RBI raises interchange fees: Check new charges, other detailsEffective May 1, 2025, RBI will increase interchange fees on ATM withdrawals in India, raising costs for transactions beyond the free limit...29 Apr, 2025, 12.50 PM IST
- Money deducted from bank account but not received from ATM: What you can doIf any money was deducted for failed ATM transactions it would automatically be reversed with T+5 days, where T is the transaction date. If...12 Oct, 2023, 05.31 PM IST
- PNB revises fee on failed ATM cash withdrawal transactions due to insufficient funds with effect from May 1, 2023Punjab National Bank will levy charges on failed domestic ATM cash withdrawal transactions due to insufficient funds. Here are the guidelin...31 Mar, 2023, 03.21 PM IST
- RBI apprises on card-less cash withdrawal at ATMs: Here's all you need to knowWhile UPI will be utilised for customer authorization in such transactions, the National Financial Switch (NFS)/ATM networks would be used ...20 May, 2022, 11.56 AM IST
- Bank to pay you Rs 100 per day penalty for delay in transaction beyond these limitsRBI has issued a circular on TAT harmonisation and customer compensation in case of failed transactions.12 Oct, 2019, 09.05 PM IST
- RBI announces new guidelines for 'failed' ATM transactionsFailure to resolve complaint within the stipulated time would make these lenders liable to pay customers Rs 100 for every delayed day.20 Sep, 2019, 09.35 PM IST
- RBI clarifies on free ATM transactionsFailed transactions, non-cash swipes at ATMs shouldn't be counted as part of free transactions, RBI has said.15 Aug, 2019, 06.39 AM IST
- RBI asks banks not to count failed transactions, balance enquiry as 'free ATM transactions'Banks provide certain number of free transactions at ATMs to their customers and beyond that impose charges.14 Aug, 2019, 08.39 PM IST
- You can get compensation for delayed re-credit if account debited due to failed ATM transactionIrrespective of use of card at an own bank ATM or other bank ATM, a customer should lodge a complaint with the card issuing bank as soon as...02 May, 2019, 11.45 AM IST
- RBI says profit and loss accounts should exclude failed ATM transaction amountsThe RBI said failed ATM transaction amounts represent unclaimed balances and directed banks not to include them in their profit and loss ac...03 Sep, 2013, 09.11 PM IST
- New RBI rules you should know about ATM usageTo avoid paying higher charges on your ATM transactions, find out about the recent changes that have been introduced by the RBI.08 Aug, 2011, 03.23 PM IST
- Banks will have to resolve ATM complaints within seven daysThe RBI has reduced the time that banks take to resolve customers' complaints regarding ATM transactions to seven working days from 12 work...28 May, 2011, 01.53 AM IST
- Banks must reverse faulty ATM debitsUnlike a few years ago, when cash dispensing was the only function assigned to ATMs (automated teller machines ), today, they are equipped ...15 Dec, 2010, 05.33 AM IST
- Banks face fines for ATM errorsRBI has come out with strict fines on banks who fail to reverse failed ATM transactions within 12 days. Top Indian Banks I Check telebankin...18 Jul, 2009, 05.30 PM IST
- Banks slow in reversing ghost debiting at ATMsEver since ATMs were ‘liberalised’ - from April, customers can withdraw cash from any bank’s ATM without extra chargethere’s been a rise in...19 Jun, 2009, 11.54 AM IST
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