Facts You should know about Automated Teller Machine (ATM)
Have you ever lost or misplaced your ATM Card ? Or ATM had swallowed your ATM Card ? This could have happened at either your bank's ATM or ATM of other banks. What steps have to be taken by you .. Read further …..
When we open an account with any Bank, we also apply for an ATM card which enables us to withdraw money, obtaining balances in your various accounts. Depending on the capacity of the machine capacity of the machine (ATM), one can carry out many transactions including cash deposit. regular bills payment, purchase of Re-load vouchers for mobiles. mini Statement, etc. However the greatest advantage is assessing the bank account for the above transactions 24 hours and seven days per week in any of the ATMs this without visiting the branch or the bank where the account is maintained. If one is maintaining the account, say in Mumbai, we can access it out of any of the ATMs situated at any other place. The ATM card issued by the bank carries a four digit code, which is separately mailed to the account holder, which have to be keyed in before any transaction could be carried out. The ATM card issued by your bank in India should be enabled for use at any bank ATM within India. In India the usage of ATMs by the customers have increased tremendously and this will continue to go up. Looking from bank's point of view , issue of ATMs reduces the need to maintain additional staff, who could be usefully deployed in the bank for attending to other items of work.
Writing the ATM Pin Number on the back of the card should not be resorted to as the card could be misused in case it is misplaced, lost or stolen. In such an event the customer of the Bank has to immediately notify the card issuing bank branch and ask for replacement, either in the form of old card or new one. The procedure for seeking a new card when it is "swallowed" at other banks ATM also remain same. Applying or informing the bank immediately after noticing the theft or misplacement, enable the banks to block the misplaced card. Besides displaying the amount that can be withdrawn by a customer on a day, various other features are also shown in the ATMs like the balance after the last transaction. In India customers of any bank can withdraw cash from ATMs of other banks up to five times in a month free of charge. This facility is made free under its "Free ATM access Policy", which has been effective since April 1, 2009, Beyond this banks an charge, per transaction, a maximum of Rs. 20/-.
Sometimes it may so happen that when we withdraw funds from ATMs the transactions fail to materialize. This may happen at the card issuing bank's own ATM or ATM owned by any of the other banks. In the process however, if our account is debited for such transactions, the customer has to notify immediately the card issuing bank branch details of the case. The bank has to settle the issue within a period of 12 days. If for any reason, the issue is not settled within the stipulated period of days, banks have to pay the customers Rs 100/- per day for delays beyond 12 working days without any claim being made by the customer. If the issue is not settled for any reason, the customer may lodge a complaint with the local Banking Ombudsman, whose address and contact details are as under:
Ombudsman for Maharashtra and Goa
The Banking Ombudsman
C/o Reserve Bank of India
Dr. Annie Besant Road,
Worli, Mumbai-400 018
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