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  • Category: Miscellaneous

    Let the banks pay penalty amount for failing to keep money in ATM's

    Over the past few weeks the ATMs across the country had gone dry and people are again forced to visit various ATMs and stand for the long queue. And where ever ATMs are attached to the banks, only that bank customers are getting the cash and not other bank customers. If the banks can charge penalty from us for not keeping minimum balance, there should also be a rule that banks pay penalty to each customer who comes to the ATM when there is a "No Cash" board. Hope the members also second this idea ?
  • #634405
    Yes, this should be implemented. When there is an ATM facility people will go there for drawing money. But when there is no money they will get discouraged and they have to run to another ATM. Yesterday my son had to run around 10 ATMs for just taking a minimum amount of Rs.4000/-. All the people are accustomed to drawing money from ATMs as and when they require. So they take small amounts only. But these days these small amounts are also not available in the ATMs. If there is no money the ATM, the bank authorities should close down that ATM so that people will not run there. Unnecessarily they keep more and more ATMs. But no money in that. What is the use?. If we go to an ATM and if we don't get money, the bank should deposit some money as expenses for going to the ATM. Otherwise, they should two free amount transfers to other accounts for every one visit to ATM but no money incidents. Then at least public will save some money by doing this electronic transfers. Otherwise, for every transaction, they will be charging us some money, A good idea if implemented people will get benefitted.
    always confident

  • #634411
    Why people are not depositing money because, even for counting small currencies in large numbers, service charges are levied and that hard earned money that saved wont comes to us through ATM but goes to Mallyas and Niravs.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #634420
    The present trend to rush to different ATM's in the wake of failure to receive cash from different locations has definitely added undue - strain to the customers. From a couple of weeks such trend is Continuing and there is no end to the present crisis.
    Banks have levied different charges for the different services they offer but now they should make some provision to pay the customers some compensation for their repeated failures to get cash from ATM.
    Hope, such situation would be addressed soon keeping in mind of the inconvenience of the helpless customers.

  • #634422
    The banks should be made liable for the failure of promised services to the customers. They should also be penalised for their failure. It is the duty of the banks to keep sufficient money available to the public. The present problem is mainly due to the inefficiency of the government.
    " Be Good and Do Good "

  • #634458
    Yes, I fully agree with the author that bank should pay penalty if there is the shortage of notes in the ATM as they force us to pay penalty if there is less amount in our account. So, it should be implemented.
    Honesty is the best policy.

  • #634498
    I do agree with all the above views & the submissions. Wherein we have the fact of ATMs running out of currencies but at the same time we have also come to know that people are not depositing the amount in their respective bank accounts.

    I strongly agree to the opinion that in case of shortage of amount in our bank accounts, the respective bank deduct some amount on account of penalty incurred, so the banks should be liable to pay to their customers for each swipe in which the ATMs doesn't have enough money. At the time of submitting the form the customer is promised of good services of all time so I don't feel any objection that if the bank fails to provide the customer with the proper ATM service then the bank should also be penalized.

  • #634545
    Let us not force the banks to pay penalty for not keeping money in ATM on time. But let us request the banks to stop levying charges for not keeping the minimum balance. Let the minimum balance be reduced to Rs. 100/- only. This is possible and should be implemented.
    No life without Sun

  • #634561
    We are not asking for sms messages from bank. Yet they charge for it as if we are starving for their message. So when they do it without even asking us, they must credit the amount without even asked for.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #634562
    Mr. Mohan,
    Your point is not understood. How and whom the bank will compensate for not keeping the cash in ATM? Don't you think it is not possible, and your thread is a vague one?

    No life without Sun

  • #634586
    ATM's are kept by banks to reduce rush at the bank and to dispense cash, no staff are required. So the very purpose of ATM's are defeated with no money in them and the banks are paying rents for no service.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #634660
    To me, the cause of concern is we are claiming to be moved closer towards a digital or cashless economy but yet we are unable to tide over for a week or so with real currency.Is this a meager but bitter truth about our tall digitalization claims?

    A thread that reflects the typical anger or annoyance of an Indian Citizen. Why should I suffer for somebody else's fault? But in a society, such things happen and thankfully, these are temporary issues.

    Shortage of cash, lack of oxygen cylinders in the government hospital, lack of provisions in the government fair price shops etc. Often the genuine reason would be a supply and demand mismatch.

    Deciding whom to punish is rather difficult because if you trace the problem, it is blamed on the lack of currency notes/RBI or ultimately the government's fault. How do we punish the Government, if we do, then there would be no end for the reasons to penalize the Government for the failures in the public service related sectors.

  • #634675
    Even during demonetization the RBI erred by not keeping sufficient cash in ATM's citing tray problems. That means proper home work not done to which people are made to suffer.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

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