How To handle ATM Withdrawal Dispense Errors
As we are fast approaching the cashless era,
many bank account holders embrace card usage more than ever. And as
such, the issue of ATM errors come into the stage.
A Typical ATM Dispense Error is a scenario where the machine debits (removes money from) your account without actually physically dispensing cash.
Many factors lead to this:
1. Link/communication problem between the machine and your bank account server, maybe via Interswitch,
2. Cash jam,
3. Physical machine fault, etc.
This can cause a lot of inconveniences, especially if not auto-reversed immediately.
If the machine does not auto reverse this, here is what to do:
CASE 1: Your bank card on your bank's machine: This is the easiest to resolve as in most cases, gets auto-reversed within 24 hours. But if not auto-reversed, visit your bank and fill a Dispense error complaint form in which you shall give details of the failed transactions. This filled form is used locally by your bank to verify and reverse your money within 24 hours.
CASE 2: Your bank card on another bank's machine: This is not auto-reversed as often as the first case, but some people are lucky to get an auto-reversal. However, resolving this takes a longer period as it involves inter-bank communication. The last one I experienced took 2 months before I got my money back.
In this case too, you still visit your bank, not the ATM owner bank, to fill same form. The difference is just that in this case, the form/complaint cannot be handled locally. Your bank will have to forward this to the head office where the whole inter-bank communications will take place. Hence, takes longer time.
It is recommended that you follow up with calls if your complaint is not resolved in the shortest time.
So, the next time you have a dispense error, do not panic, just follow the due process, and there is 99.9% probability you will get your money back soon.
HOW TO MINIMISE ATM DISPENSE ERRORS
While ATM dispense errors are not 100% preventable, there are a few guides that can help you minimise the rate at which you get caught. As a card user,
1. Always use a bank's card on the same bank's machine, except if absolutely impossible
2. Always demand for your account balance first before demanding for withdrawal with the machine. This helps alert you of possible link problems.
3. Follow on-screen instructions well as these will guide you properly.
A Typical ATM Dispense Error is a scenario where the machine debits (removes money from) your account without actually physically dispensing cash.
Many factors lead to this:
1. Link/communication problem between the machine and your bank account server, maybe via Interswitch,
2. Cash jam,
3. Physical machine fault, etc.
This can cause a lot of inconveniences, especially if not auto-reversed immediately.
If the machine does not auto reverse this, here is what to do:
CASE 1: Your bank card on your bank's machine: This is the easiest to resolve as in most cases, gets auto-reversed within 24 hours. But if not auto-reversed, visit your bank and fill a Dispense error complaint form in which you shall give details of the failed transactions. This filled form is used locally by your bank to verify and reverse your money within 24 hours.
CASE 2: Your bank card on another bank's machine: This is not auto-reversed as often as the first case, but some people are lucky to get an auto-reversal. However, resolving this takes a longer period as it involves inter-bank communication. The last one I experienced took 2 months before I got my money back.
In this case too, you still visit your bank, not the ATM owner bank, to fill same form. The difference is just that in this case, the form/complaint cannot be handled locally. Your bank will have to forward this to the head office where the whole inter-bank communications will take place. Hence, takes longer time.
It is recommended that you follow up with calls if your complaint is not resolved in the shortest time.
So, the next time you have a dispense error, do not panic, just follow the due process, and there is 99.9% probability you will get your money back soon.
HOW TO MINIMISE ATM DISPENSE ERRORS
While ATM dispense errors are not 100% preventable, there are a few guides that can help you minimise the rate at which you get caught. As a card user,
1. Always use a bank's card on the same bank's machine, except if absolutely impossible
2. Always demand for your account balance first before demanding for withdrawal with the machine. This helps alert you of possible link problems.
3. Follow on-screen instructions well as these will guide you properly.
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