Perils of convenience ( SBI ATMs)

Hi,

This is just to bring to your notice the perils of an SBI bank Account. Key Takeaways are pointed out below for people who do not have time. Dramatic Story follows Key Takeaways.

Key Takeaways:

Never throw away any, I repeat any printed slip that the SBI ATM spits out at you. (Keep all of them even if they fade and go blank)

Always double check your account if the ATM says ‘unable to process’ or ‘insufficient funds’ after you have entered the amount you want to withdraw

Always double check your account periodically anyways ( you never know)

If there are discrepancies in your account (missing money!!!) the bank will first try to blame you; then your friends; and then other banks in that order

Dramatic Story

This started with me trying to withdraw money from the office SBI ATM(Jan 1, 2008). On taking a mini-statement I was informed that Rs 1000/- had already been withdrawn from my account earlier!!! Alarmed I called up the Branch Manager who told me that I must have done it myself and forgotten about it!!! My arguments led to nowhere and I went down to the branch to talk about it directly.

What the manager told me came down to two things:

• My amnesia (or a deliberate lie for 1000 bucks)!!
  

• A thief must have taken my card without my notice and knowing my ATM pin had withdrawn Rs 1000/- from my account and then returned the card to my wallet (fascinating)!!

I also informed him that the last time I tried to withdraw money was yesterday from an SBI ATM but I couldn’t due to lack of funds in the ATM. The manager disputed even that till I produced the slip. With no alternative, I blocked my ATM card.

The branch manager was also kind enough to tell me that mine was the first case like this he had ever heard. Frustrated, I asked for the transaction details of this mysterious withdrawal and was given a letter stating the ATM ID number. The manager said that the ATM was of Axis Bank and if I go there they will be able to check their security cameras and identify the culprit!!!

We went to the Axis Bank and were told politely that this withdrawal was not made from an Axis Bank ATM and the SBI was making a mistake. Back at SBI and really mad, I told the bank manager to help out. It was not the question of the 1000 bucks but the security of my account. I had to also threaten him with escalation at my company. He relooked at all my withdrawal slips and then suddenly realized that it was their mistake after all!!! Yesterday when I was not able to withdraw money, the account had nevertheless been debited with the amount I tried to withdraw!!! It was apparently a common problem (it happens once or twice every 1000 transactions!!!!!).

I had to submit a copy of that slip, a letter for asking my money back and was told that it will be credited to my account after verification in 10-15 days. Since I had blocked my card, it will take another 10-15 days to get a new card (I have to pay Rs 15/- for it). If I had not kept that slip, both my peace of mind and the money would have disappeared.

Please bear this in mind so that you are better prepared.