In one of my earlier posts, you might have noticed that I bank with Ubion Bank of India and SBI only and not with the private banks. Well, unfortunately, when I need cash, I have to turn to the private bank ATMs only that are close to my house, and since UBI is already offering free withdrawals from Otherbank ATMs, I usually prefer to withdraw cash from my UBI account.
A few days ago, when I tried to withdraw Rs 5000 from my UBI account thru an ICICI ATM close to my house, the ATM waited for sometime and spat out the card saying that there was a network error. When I fed the card again, I found that Rs 5000 which I had entered previously has been deducted from the account and I have nto received cash.
I have learned about this in an RDBMS paper in college. Money gets deducted from one account and doesnt get transfered to another.
I approached UBI and they said that since ICICI has swollowed my money I should approach ICICI and whe I went to ICICI, as expected, those bastards wont even notice that I am there after I told them my problem.
I spoke to my friend, who has a number of Mesothelioma lawyers for friends, and he told me that if this Rs 5000 doesnt matter much to me, I’d better leave it, since if I go after it, it would take a lot of time to reclaim it, and it will cost 80% of the money, and you can’t claim the expenses from the bank in any case.
Also, he said, there is one principle that you should always follow. Even if the free withdrawal policy has come into effect, always withdraw from Govt. banks from Govt Bank ATMs only. Private Sector banks don’t like Govt Banks much and they create all sorts of trouble for them and make the client work very hard to get back the money so that they could possibly get him as their client saying that their service is not as bad as Govt Banks.
Technology is helpful, but I guess getting back to old fashioned banking when you are at home by visiting the branch for withdrawals should be the best thing to do and use the ATM cards only while travelling.