How to Handle ATM Money Retention Issues and Protect Your Funds

ATMs can sometimes retain your cash or fail to credit the deposited amount to your account, creating a stressful situation. Here’s a comprehensive guide on what to do if this happens and how to prevent it.

Imagine inserting a substantial stack of bills into an ATM, which then 'swallows' the money, hums for a moment, and asks for more. Alternatively, the machine may miscount your deposit and not return the remaining balance, or the funds might not reflect in your account despite the deposit process completing. Standing in front of an unresponsive machine, you may feel helpless—without your money and lacking proof. So, what steps should you take?

Stay Calm and Patient

Sometimes, ATMs experience temporary system glitches. In such cases, waiting a few hours might allow the deposited funds to appear in your account. However, this does not apply if the ATM physically retains your bills or miscounts them during deposit. The machine might eventually dispense the remaining cash, but if you’re not nearby and someone else collects it, recovering your money becomes significantly more challenging.

Document All Relevant Details

An ATM malfunction may result in no cash return and no receipt issuance. To support your claim, make sure to record or note the following information:

• The exact date and time of the transaction (including hours and minutes);
• The ATM’s location and identification number, usually displayed on the device;
• The total amount you attempted to deposit and the amount the machine retained;
• Whether the ATM is equipped with surveillance cameras, as footage can validate your actions.

Contact Your Bank Immediately

If the ATM is located inside a bank branch, approach the bank staff for assistance. In other cases, follow these guidelines:

• If your card was issued by one bank but you used an ATM owned by another, contact the bank that owns the ATM;
• If the issue occurs abroad and you lack the time or language skills, contact your card-issuing bank. Note that cross-border transaction investigations may take up to two months.

Call your bank’s customer service hotline (numbers are often displayed on the ATM or your card) without leaving the ATM. They will guide you on the next steps. Some banks may accept your claim over the phone.

If your phone claim is not registered, submit a written complaint including:

• Your full name and identification details;
• Your card information;
• Details of the ATM (number and location);
• Incident specifics (date, time, transaction type, deposited amount, and retained cash);
• A formal request for refund of the withheld funds.

File your claim no later than the day following the ATM malfunction.

Bank branches will register your complaint and provide a reference number for tracking. For your records, keep a copy of the complaint or submit two copies and request a signed acknowledgment from the bank representative.

The bank will investigate by checking the ATM cash balance during collection, reviewing surveillance footage if available, and verifying account transactions.

Investigations typically take up to 45 days, so patience is necessary.

Consider Legal Action if Necessary

Unfortunately, banks may sometimes refuse to accept complaints, delay investigations, or deny the loss of your funds. In such cases, you can protect your rights through the courts.

Prepare a lawsuit detailing the ATM malfunction and bank’s inaction. Attach copies of your written complaints as evidence. Besides demanding the return of your money, you may also claim:

• Interest for unauthorized use of your funds, since the bank effectively withheld your money;
• Compensation for emotional distress caused by improper bank conduct.

Legal proceedings can take longer than bank investigations but may be essential for recovering your funds.

Prevent ATM Issues with These Tips

Reduce the risk of ATM problems by following these simple recommendations:

• Avoid depositing wrinkled, folded, or torn bills;
• Remove rubber bands or clips from your banknotes before depositing;
• Do not insert more than 40 bills at once;
• Use ATMs located indoors or in heated areas during cold weather (below -10 to -15°C) to minimize technical malfunctions.

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