When will the amount withdrawn from account despite ATM glitch be returned?

KATHMANDU: When using a card to withdraw cash from an ATM, sometimes the ATM fails to dispense money.

This could happen due to technical issues, even though the ATM debits the amount from our account.

In such situations, many people assume they have lost the money.

Despite informing the bank about the failed transaction, they may not receive cash immediately.

However, banks have arrangements to credit the amount to the customer’s account within a certain period.

Responsibility for reconciling the account within the specified time frame lies with both the issuing institution and the ATM operator.

The responsibility of settling the account within the above-mentioned time limit is the responsibility of both the organizations that issue the equipment and those that are used.

Timeframe for refund: When can the amount be expected back? Let’s see at the points below.

• Card issuance and ATM usage from the same institution: Refund within one day of transaction completion.
• Card issuance and ATM usage from different Nepali institutions: Refund within three days of transaction completion.
• Card issuance and ATM usage involving a foreign institution: Refund within 30 days of transaction completion.