Lakhs of people hold ATM cards from different banks. These banks collect crores of rupees in advance as ATM’s annual fees from the card holders. Also banks impose penalty on customers for not maintaining minimum balance in their accounts.
As per the RBI regulations a card holder can utilise the service of any bank’s ATM to carry out transactions. But what is our experience? Several times, when we visit a bank’s ATM, we have to return back disappointed either because the ATM is not functional or ‘No Cash Available’.
Is it not high time that some punitive action be taken against these banks? What about imposition of penalty on banks if ATMs don’t dispense cash?
Shouldn’t the customers be compensated for the bank’s ATM failure?
Recently Rs 2,500 penalty was imposed on a leading Bank, by a Consumer Forum in Raipur after its ATM failed to dispense cash to a customer.
The forum asked “When the customers are penalised for no balance or less than minimum balance in accounts, how a bank could get away with no cash in an ATM?”
Shouldn’t we in Goa too take to task those banks whose ATMs frequently fail to dispense cash to its customers and those in-charge give all kinds of flimsy reasons for their ATMs being non operational?
