ATM Failed Transaction-How to Get Back Your Money

ATM failed transaction is a common issue that happens to many of us. It can be while cashing out funds at an ATM booth, POS payment over the counter at shopping malls or during online purchases.

Money got debited from your account but the beneficiary did not get the fund. Or when you have done a transaction at an ATM booth, everything went well until you notice the cash dispenser jammed and money did not dispense. 

It could be due to various reasons. But the question is, how would you handle the situation? If you have faced the issue and looking for an answer, you are definitely in the right place.

Well, we will see what sort of actions can we address sooner to get back the disputed money.

Image credit

What You Need to Do Instantly

Whenever you have completed the transaction successfully and if cash is not dispensed or the beneficiary is not getting the fund. Here’s what you need to do instantly.

Instant check

  • Check your account balance.
  • Do not leave the ATM booth until you are satisfied.
  • If the account is debited, make sure to get the transaction slip which would give you the ATM ID of that particular ATM.

Follow-up for Refund

If the amount got deducted from your account and you are not getting the fund. Here’s what you can do. 

1Call up the customer helpline which is written on the backside of the card. Inform them what just happen and get your complaint number or ticket number
2You may visit your bank’s website and lodge the complaint under the specific menu. 
3You may also visit any branch and submit the written complaint along with the fill-out form specific for ATM transactions- accounts debited but cash not dispensed

For the State Bank of cardholders, you may call on the following helpline numbers to do so. 

For more details please feel free to know here

As per Reserve Bank guidelines, the disputed transaction must be resolved within 5-7 days from the date of a complaint lodged. Beyond that, you are entitled to get compensation of ₹100 per day for the extended days. 

One need not worry at all if things turn out south while transacting through an ATM card. What matters is, that you need to make complaints on time in the right forum. 

State Bank of India, has a robust complaint management system, which you can access through their official website to address the issue. 

Other banks too have a complaint management system. The process is more or less similar, as these banks need to follow the laid down guidelines given by the RBI. 

What if the Bank is Unable to Refund You? 

This is quite rare, but it happens may be due to technical faults. Rarely at a certain time, it is seen that banks are unable to settle the issue due to unavailable data as all these data are system generated and sometimes the system gets the wrong information. 

If that is the case and you genuinely feel unsatisfied with the resolution given to you. You always have the right to escalate the matter to the next higher authority and see if it works. 

If it does not, then you can address the issue with the banking ombudsman where you would be given a fair resolution. You will have to be 100 percent sure what you are getting into as it would penalise the party who is on the wrong foot. 

It is advisable to resolve the issue within a time-bound manner with your bank. Normally it gets settled within a few days. Go for higher appellate authority only if it is required. 

Bank has a kind of artificial intelligence that runs in the ATM if there is a failed transaction occurred. The system got notified and trigger a reversal of funds within a few minutes without even lodging complaints. 

It is seen most of the time that if you are using your bank’s ATM booth, auto reversal of failed transactions smoothly occurs. But if you use another bank’s ATM booth problems start to occur. 

Even for refund complaints, if it involves different banks. It takes a longer duration to settle your case. It is mainly because the ATM switch centre in Mumbai will have to coordinate between the banks and getting transaction information takes a bit longer. Whereas if it is in the same bank, cases got settled quite fast. 


ATM card is a part and parcel of our day-to-day life. Living a life without it would be quite impossible as there are certain things that can not be handled by hard cash or Internet banking. 

These kinds of issues are going to occur in the days to come. As the technology gets better, the services may also get better. Maybe AI will handle all the issues soon. 

But right now if you happen to face the problem, you will need to follow a few simple processes. 

These are as follows

  • Check your account balance. 
  • Do not leave the ATM booth until you are satisfied. 
  • Make a call to the customer helpline and get the complaint or ticket number for future reference. 

Wait for a few days and see if you get the refund in your account. Normally it gets settled within 7 days. 

If you have any difficulties getting back your refund, please rely on your bank officials. Any doubt, the bank may be able to guide you properly. 

Share if found useful

1 thought on “ATM Failed Transaction-How to Get Back Your Money”

Leave a Comment