More Indian ATMs Swallowing money after the coming of Free Interbank ATM Transactions
What are these banks trying to prove? Are they not happy with the new RBI policy of free Inter Bank ATM transactions?
I lost some money last week while trying to make a withdrawal from an ATM. I tried to withdraw money from an ICICI ATM close to my house from my UBI account and I lost the money and ICICI and UBI both refused to help me with it, and I shot a mail to ICICI support telling them that Chandra Kochar can utilize that money to buy some sexy lingerie for herself and they promptly replied saying that they did not appreciate my mail and that it was lack of professionalism. 
who is lacking professionalism here?
Today my friend had gone to an SBI ATM that is close to his place to withdraw Rs. 1000 from his ICICI account, and the same thing that happened to me happened to him too. Network error, money taken from his account, and he didn’t get the money, and as usual, just like everyone does, he threw away the slip that he got from the ATM. No proof that way. I guess his money would be gone too. Without the slip, there is no way of prooving that you have not taken the money and that you have really had a network error, and the banks will not bother to check their logs if the money has really ben dispensed or not.
This is a serious problem. Lets say you are a salaried person and at the end of the month, when you have only around Rs 5000 in your account, and you get into a medical emergency and the hospital is asking you to deposit Rs 5000. You go to the ATM, and it swollows your money. Its the middle of the night, money gone, and no ways to reclaim that money back, and you are in a medical emergency. Imagine the kind of trauma that you will get into. People would rather have paid the Rs. 20 fee for the transactions rather than getting into this kind of trouble.
Should we stop using the ATMs? Should we go visit the bank when we need to withdraw money the old fashioned way? Because the only proof that you can possibly get in a situation like this is the slip that you get from the ATM, and atleast here in Pondicherry, most of the times all ATMs are out of paper, and for most of the other times, the prints are hardly legible.
It is money, and private banks would be glad the keep the money for themselves rather than let you have it back, and in the court only documents speak and if you are without a document that supports your claim, the bank would just say that the cash was dispensed and would ask us to bring the ‘proof’ for our claim that the money was not dispensed.
I am writing to RBI anyways today. But getting a reply from RBI is a tough job too. Takes a lot of time. You need to send a letter through registered post first, and you will not get a reply fro that. Then you will have to spend another Rs 10 and file an RTI application to get a response, and they will manage to reply with a stupid reply asking for details that we will never have, and that the banks will never give us. The transaction id for example.
This really is, a serious problem.