When you come across the spoiled notes while withdrawing cash from ATM, know your rights


What should be done if some of the torn notes are removed while withdrawing money from ATM? People do not know much about it. Due to which many times they have to suffer loss. Let us tell you how you can easily change your torn notes by going to the bank.

What to do if you get a torn note from an ATM?
If you get torn notes while withdrawing money from ATM, then there is no need to worry, because you can go to the bank and easily take a new or clean note in lieu of a torn note.

Can not refuse to change a banknote
According to the Reserve Bank of India (RBI) rule, it can be changed in the bank if the torn note comes out of the ATM. No government or private bank can refuse to exchange torn notes. It does not take much time to go to the bank and change the note.


Bank may have to pay penalty
If a bank refuses to change the name or name of this process, then you can complain to the police. According to RBI rules, banks doing so may be fined Rs 10,000.

Learn what is the process
For this, the bank whose ATM you have withdrawn cash from will first have to go to that bank. You will have to give an application by going there. In which you will have the information about the date, time, and location of the ATM to withdraw money. After that, you will have to attach a copy of that slip that came out after withdrawing money from the ATM. Then the application has to be deposited in that bank. If you do not have a slip of the transaction, you have to provide the transaction details on the mobile.