The ATM “swallows money” and does not release it even though the account has been deducted. Immediately do the following 2 ways to get your money back

3 reasons why ATMs “swallow money”

Trading system overload

This is a common cause when too many customers conduct withdrawal transactions at the same time, leading to the transaction system being overloaded. At this time, the ATM will process orders slowly and release money more slowly or not at all.

Because the ATM you’re withdrawing from is faulty

ATMs are still machines, so errors can happen. This may also be the reason why money has been deducted from the account but the ATM still does not release money.

Because users do not receive money after the ATM releases money

A mechanism that many people do not pay attention to is that after a certain period of time, if the customer does not receive money, the ATM will automatically “swallow the money” back into the machine. At this time, your account will still be deducted because the transaction was completed successfully.

Most banks have general regulations on money receipt time when customers make transactions at ATMs. On average, after about 30 seconds, if the customer does not receive money, the ATM will withdraw money again.

How to get your money back when you encounter a situation where the ATM “swallows money” and won’t release it, but your account has been deducted

If you encounter a problem where the ATM does not release money even though your account says the money has been deducted, there are 2 cases you need to do to get your money back.

Case 1: Withdraw money at an ATM other than the banking system

There are 2 ways to handle when you withdraw money from an ATM other than the banking system, but the ATM does not release money.

– You can immediately notify the card-issuing bank about the situation and request the bank to fix the problem.

– You can go directly to the bank branch where you use the ATM to withdraw money and report problems. The bank will ask you to provide information including withdrawal time, withdrawal amount, account number… After full authentication, the bank will verify the information and pay you as requested.

Case 2: When withdrawing money at an ATM in the same banking system

– Quickly call the bank’s switchboard to notify them of the problem and request refund instructions. You can find the bank hotline number right at the ATM.

In addition, you can also go directly to the bank transaction branch and report the problem of the ATM not dispensing money. The bank will ask you to declare information related to the card number, amount withdrawn, and withdrawal time. Just follow the request, and you will receive your refund in your account within 5-7 business days, excluding holidays.

How long will it take to receive the deducted amount?

If you withdraw money from the ATM of the bank that issued the ATM card, the money will be refunded to your account within 2 to 7 working days.

If you make a transaction at an ATM other than the banking system, it will take 30 to 45 working days to receive your money back.

At this time, the bank will check the system and camera at the ATM where you withdraw money. If all information is correct, the bank will complete the procedure and return the lost money to the customer’s account. via text message. Therefore, you can wait with complete peace of mind while the bank checks the problem.

Some notes to help you get your money back soon when you encounter an error

– When you fail to withdraw money at an ATM, you should re-query your account balance right before leaving the ATM. You can use the automatic balance notification service via SMS to monitor balance fluctuations in your account.

– When the ATM has not released money, you should wait 2 – 5 minutes to see if the machine will release money or not because at the end of the year or holidays, there are many people withdrawing money, leading to system overload. You should withdraw money at an ATM in the same system.

– You should use the ATM in front of the bank branch so that when you have a problem you can have it resolved as quickly as possible.

– Keep transaction receipts as evidence of withdrawals. This receipt will let you know that the transaction went through but no funds were received.

– In case the ATM does not release money due to a system error, the customer will still receive a refund back to their account.