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ATM Withdrawal Failed? Bank Will Compensate You, Do This Immediately!
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News18•23-09-2026, 15:18
ATM Withdrawal Failed? Bank Will Compensate You, Do This Immediately!
- •If money is debited but not dispensed from ATM, do not panic; report it immediately.
- •Keep the transaction message or slip as proof if an ATM withdrawal fails.
- •Register a complaint with your bank via toll-free number or app within 24-48 hours.
- •As per RBI's 'T+5' rule, if money isn't credited in 5 days, the bank pays ’100 daily compensation.
- •To claim compensation, file a formal complaint within 30 days of the failed transaction.
Key Questions Answered
Under the Reserve Bank of India's T+5 rule, the bank is legally required to re-credit the deducted money to the customer's account within 5 calendar days from the date of the failed transaction (T).
If the bank fails to return the money within the stipulated 5 days, it must pay direct compensation of ₹100 per day for each day of delay starting from the sixth day until the amount is credited.
Do not leave the ATM; check the screen message, keep the transaction slip or take a screenshot of the debit SMS, and register a formal complaint with your bank within 24 to 48 hours.
