Thursday, 30 May 2013

Acquiring Banks to Provide Details of Three Transactions before and after Failed ATM Transaction

National Payments Corporation of India (NPCI) has notified the responsibility of Acquiring Banks (bank whose ATM is used for Failed ATM Transaction) while responding to the complaint of a Failed ATM Transaction to the Card Issuing Bank. In its circular NPCI / 2012-13 / NFS / 2737 issued on 26th March 2013, NPCI directed that: "A customer dispute for ATM cash withdrawal arises generally in case of cash not dispensed or partial cash dispensed from the ATMs. In such scenario, the customer fills up a Complaint Form and submits it to his / her bank which has issued the ATM/debit card to the customer. The Issuing Bank raises a charge-back on the Acquiring Bank (whose ATM is used) on the basis of the customer's complaint. The Acquiring Bank checks ATM logs like Electronic Journal and if the transaction is successful and cash has been dispensed, the Acquiring Bank "represents" the transaction with supporting documents, like, ATM Electronic Journal (EJ) or Journal Print (JP)." Read more...

The circular states that as per the requirement of Customer Service Department of Reserve Bank of India, some changes are necessitated in the Representment related process. At the time of Representment (time of responding to the complaint), the Acquiring Bank must provide three transactions before and three transactions after the Disputed Transaction in the EJ / JP Logs. This means that an Acquiring Bank in India cannot reject a complaint of a Failed ATM Transaction without providing any supporting documents to the Card Issuing Bank. Customers must insist on getting not only the EJ / JP log of total 7 transactions, but also for the CCTV / ATM camera recording for which also NPCI has given guidelines to the Acquiring Banks. Please read this page for details: Bank Customers can ask for CCTV Recording of Failed ATM Transactions in India




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