CC ATM failed auto-reversal?

[alixonthego]

Hi,

I used an IDFC ATM 2 days ago with my IDFC CC to withdraw 10k, but due to some reason the ATM did not dispense the cash and displayed that the ATM is not functional anymore because it is having issues. Though it worked again after 5-10 mins.

Anyway 10k was deducted from my credit limit and I have made IDFC aware of this situation but they are giving me 120 days to investigate this situation.

Is there any chance the amount might get credited back to my credit limit through auto reversal? Or am I stuck in a customer support nonsense for months?

I am also worried since this amount got added to my bill for the month and now I am stuck in a situation where I might need to pay 10k

 

[sudheerreddy]

I've faced this situation, but in my case, it was a debit card. The amount was auto-reversed in 4 days.

Dont know about credit cards.
By the way, my suggestion is dont use CC to withdraw cash from ATM's.

 

[praful47]

There is a time line for reversal T+5 days .
If it crosses you are liable to get Rs 100 compensation for per day delay .
Let them investigate meantime pay your dues .

 

[alixonthego]

I've faced this situation, but in my case, it was a debit card. The amount was auto-reversed in 4 days.

Dont know about credit cards.
By the way, my suggestion is dont use CC to withdraw cash from ATM's.

I hope it is auto reversed in a few days too. I had similar issues with debit cards too and they usually comeback instantly or within 48 hours but this CC situation is new for me, and it has been more then 48 hours. So it is a a little bothersome

Noted, I would avoid it. But it is a WOW card and especially in foreign trips when you need cash, I really like the WOW due to its pretty minuscule fees on withdrawal and almost no marked up rates on conversion. So it has become a habit for me to use the WOW for cash withdrawal time to time. Never had any issue until this particular IDFC ATM started acting weird. It was also very slow, literally took 30 seconds between each input

 

[alixonthego]

There is a time line for reversal T+5 days .
If it crosses you are liable to get Rs 100 compensation for per day delay .
Let them investigate meantime pay your dues .

Does this also apply to credit cards?

 

[Arnal07]

There is a time line for reversal T+5 days .
If it crosses you are liable to get Rs 100 compensation for per day delay .
Let them investigate meantime pay your dues .

Sbi takes atleast one week for the same.It happened once with me.On the 6th day I went to the branch which owned the ATM and showed them the RBI circular.The branch employee told me they open the ATM to check failed cash transactions once in every 8-10days.

 

[praful47]

Does this also apply to credit cards?

It applies to all ATM transactions UPI , credit card and debit card.

 

[praful47]

Sbi takes atleast one week for the same.It happened once with me.On the 6th day I went to the branch which owned the ATM and showed them the RBI circular.The branch employee told me they open the ATM to check failed cash transactions once in every 8-10days.

What's harm in approaching to RBI if the timeline of 5 days gets breached .

 

[Arnal07]

What's harm in approaching to RBI if the timeline of 5 days gets breached .

no harm but for 300-400rs dont worth the effort.

 

[praful47]

no harm but for 300-400rs dont worth the effort.

Okk .. but what if they take more than that.

 

[Arnal07]

Okk .. but what if they take more than that.

then you can complaint on rbi, they usually take 8-9days.