What to do if the amount has been deducted from your ATM/Debit card on Point of Sale but the transaction is unsuccessful?
This is certainly is a very important query most of us are going through as many of us face this problem in general while using ATM/Debit cards while purchasing anything at a particular outlet.
Using a Debit card to make a transaction on the purchase of any item from the desired outlet is a common practice as it allows the convenience of not carrying too much cash with you and making transactions through the use of a Debit card in a safe and secure way.
Now the issue arises when a customer uses his Debit card and enters a PIN on the swipe machine as per the set procedure and then you get a reply from the cash counter guy that the transaction is unsuccessful on one hand but on the other you get an SMS alert from your bank that the desired amount has been debited from you Account from the particular point of sale.
In the above scenario you as a Customer have to follow the following steps;-
1. Firstly don’t panic the money belongs to you and if it is deducted and as per the cash counter guy it is not successful as no receipt has been popped out of the merchandising machine this is a clear tip that the transaction is unsuccessful another quick tip call your concerning bank helpline right away to ensure the status of the transaction that has been turned down as unsuccessful.
There is a possibility that within 24 to 48 hours you might get a transaction reversal of the same amount back into your bank account, just to ensure this you must keep an eye on your bank balance or inquire from the bank helpline or your concerned bank branch regarding the status of the deducted amount.
2. Secondly if you don’t get the desired amount back into your Bank Account then you need to submit a dispute settlement form with your concerned bank to claim the amount, Banks dispute settlement department will inquire about the transaction you as a Customer are claiming and after complete scrutiny unsuccessful that the transaction was actually debited due to technical glitch, you will get the desired amount credited into your account within a specific Turn around time (TAT) set by the bank to work out a particular complaint logged by its Customer.