Banks typically clear up these issues quickly, but glitches can create anxiety while you wonder whether or not you’ll get reimbursed—or if the bank will believe your story. What’s more, this mishap could cause financial issues if your account balance is already low. Learn what to do and how to act when you don’t receive your money from an ATM.
How to Handle ATM Errors
In a best-case scenario, the bank or ATM operator already knows that the mistake occurred and will fix the error in your account. In some cases, it takes more effort on your part. As soon as you realize that there may be an error, do not continue using the machine. ATM problems can be a sign of fraud, and in this case, thieves may have changed something on the device, so it is best to minimize contact with that machine.
Get Details About the ATM
Record the exact time, date, and location of the malfunction. If there are several machines at one location, which one was it? To be extra careful, take pictures with your phone and send yourself a text message for a digital record of when and where you got shorted.
Call Your Card Issuer or Bank
If you don’t receive your money, file a claim with your bank immediately to start the resolution process. If you used a credit card instead of a debit card linked to your checking account, check with the card issuer. In both cases, explain what happened, and request an investigation. Your card issuer will research the issue with the ATM operator. If a bank other than your own card issuer owns the ATM, it may also make sense to contact the ATM owner, but your bank has the ultimate power to fix the situation. Even for ATMs in the lobby of a bank branch, onsite employees typically cannot open the machine or reimburse you immediately. However, bank employees can take your claim in person. If you use an ATM somewhere else, such as a convenience store, tell an employee what happened. They might have contact information for the machine owner, and they can alert others who try to use the machine.
Consumer Protections for ATM Errors
Under federal law, you are protected from these types of errors and fraud. If you used a debit card, Regulation E—a Federal Reserve regulation outlining rules and procedures for electronic funds transfers—provides that your bank must investigate the research and resolve your claim. Your bank will begin an inquiry after you report the problem. Then, the bank has 10 business days to review the matter or credit your account and let you know the course of action. If the bank cannot determine the cause of the problem within 10 days, you should receive a temporary credit, known as a “provisional credit.” The bank calls this credit “provisional” because you only get to keep the money if the bank finds an error. If the bank decides against you, it will remove the credit, and you’ll be responsible for replacing any of the money you spend.
Bank Investigation Into ATM Error
Your bank may take up to 45 days to investigate most ATM withdrawals, so nothing is certain until you hear back from the bank. Also, if the problem happened out of state or with an account that’s less than 30 days old, banks can take extra time. To ensure that your bank follows through on an investigation, ask if you need to provide a report in writing. Notifying your bank with a phone call is a good start, but some banks require you to submit a formal request, as well. Doing so helps to protect your rights. This doesn’t make things any easier in the short term, but there’s a good chance you’ll eventually be reimbursed.
