Power cut while withdrawing money from ATM? Don’t panic, know how to get back the money deducted from your account.

ATM Transaction: Today ATMs have become very important for us. Now we do not have to stand in long queues in banks to withdraw cash. You can withdraw money anytime using ATM. But sometimes such situations arise at ATM machines that we do not understand what to do next.

For example, what if there is a power failure while withdrawing cash from the ATM and money is deducted from your account but you do not get the cash? The biggest question is whether in such a situation you will get your money back and if yes, then when? Let us know the answers to all these questions.

Will you get the money back?

ATM machines have made our lives easier. Today we can withdraw cash whenever we want. Now we do not have to stand in long lines for cash. Even if there is a power failure while withdrawing money, the ATM usually continues to work because it has a backup power supply.

However, some machines are old. In such cases, your money may get stuck. In such a situation you will not know what to do.

According to RBI rules, in such situations banks have to return the money within 24 hours. Sometimes the money is returned within two to four hours.

What to do if money is not returned within 24 hours?

If the bank does not return the money within 24 hours, then you can report this incident to the bank. You can also lodge a complaint with the RBI Banking Ombudsman.

How to do your important banking work when banks are closed?

If banks are closed on a particular day in your state, but you have to do some important banking work, then you can do it from the comfort of your home. For this you just need a laptop or mobile phone and internet connection. You can perform many important banking transactions, such as withdrawing cash and transferring money, using online banking and ATMs. However, for some work you will still have to go to the bank.

The post Power cut while withdrawing money from ATM? Don’t panic, know how to get back the money deducted from your account appeared first on Latest.