ATM Related Frequently Asked Questions
Subsequent to RBI policy of
“Free access to ATMs of banks” coming into the effect from April 01, 2009, RBI
have been receiving many queries related to ATM operations. Therefore, for the
purpose of customer awareness, some Frequently Asked Questions (FAQ) covering
all important queries related to ATM operations has been prepared by the Reserve Bank of India (RBI). The same has also been placed on RBI Website.
1)
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What is an Automated Teller Machine (ATM)?
Ans: Automated Teller
Machine is a computerised machine that provides the customers of banks the
facility of accessing their accounts for dispensing cash and to carry out
other financial transactions without the need of actually visiting a bank
branch.
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2)
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What type of cards can be used at an ATM?
Ans: The ATM cards/debit
cards, credit cards and prepaid cards (that permit cash withdrawal) can be
used at ATMs for various transactions.
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3)
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What are the services / facilities available
at ATMs?
Ans: In addition to cash
dispensing ATMs may have many services / facilities such as:
The services offered may vary from bank to bank, or may depend
on the capacity of the machine to provide such services.
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4)
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How can one transact at an ATM?
Ans: For transacting at
an ATM, the customer insert (swipe) their card in the ATM and enter their
Personal Identification Number (PIN).
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5)
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Can these cards be used at any bank ATM in the
country?
Ans: Yes. The cards
issued by banks in Indiashould be enabled for use at any bank ATM
withinIndia.
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6)
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What is a Personal Identification Number
(PIN)?
Ans: PIN is the numeric
password for use at the ATM. The PIN is separately mailed / handed over to
the customer by the bank while issuing the card. This PIN has to be reset to
a new PIN by the customer. Most banks force the customers to change the PIN
on the first use.
The PIN number should not
be written on the card, card-holder purse etc as in such cases the card can
be misused if card is lost / stolen.
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7)
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What should one do if he forgets PIN or the
card is sucked in by the ATM?
Ans: In case the PIN is
forgotten, the customer should approach his branch for regeneration of the
PIN. In case of loss of the card, the customer may contact the card issuing
branch and apply for retrieval / issuance of a new card. This procedure is
applicable even if the card is sucked in at another bank's ATM.
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8)
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What should be done if the card is lost /
stolen?
Ans: The customer may
contact the card issuing bank immediately on noticing the loss so as to
enable the bank to block such cards .
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9)
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Is there any minimum and maximum cash
withdrawal limit per day?
Ans: Yes, banks set
limit for cash withdrawal by customers. The cash withdrawal limit for use at
the ATM of the issuing bank is set by the bank during the issuance of the
card. This limit is displayed at the respective ATM locations.
For cash withdrawals at other bank ATMs, banks have decided to
maintain a limit of Rs 10,000/- per transaction. This information is
displayed at the ATM location.
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10)
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Do banks levy any service charge for use of
other bank ATMs?
Ans: No charges are
payable for using other banks' ATM for cash withdrawal and balance enquiry,
as RBI has made it free under its "Free ATM access policy" since
April 01, 2009. But banks can restrict the number of such free transactions
to a maximum of five per month. For transactions beyond this number, banks
charge maximum of Rs 20/- per transaction.
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11)
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What should be done in case during the cash
withdrawal process, cash is not disbursed by the machine but the account gets
debited for the amount?
Ans: The customer may
lodge a complaint with the card issuing bank. This process is applicable even
if the transaction was carried out at another banks ATM.
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12)
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How many days maximum would the bank require
to re-credit the account for such wrong debits?
Ans: As per the RBI
instructions, banks may re-credit such wrongly debited amounts within a
maximum period of 12 working days from the date of receipt of the complaint.
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13)
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Are the customers eligible for compensation
for delays beyond 12 working days?
Ans: Yes. Effective from
July 01, 2011, banks shall have to pay customers Rs 100/- per day for delays
beyond 7 working days from the date of receipt of the complaint. This shall
have to be credited to the account of the customer without any claim being
made by the customer.Any customer is entitled to receive such compensation
for delay, only if a claim is lodged with the issuing bank before 30 days of
the date of transaction.
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14)
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In case the compensation is not credited as
mandated, what recourse does the customer have?
Ans: For all such
complaints customer may lodge a complaint with the local Banking Ombudsman if
the bank does not respond.
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