Banks not to give back swallowed ATM cards

If the ATM from which you try to take out cash swallows your card, you had better try to get a new one. For it is as good as ‘digested’. The RBI, which had allowed people to use their debit cards in the ATM of any bank, has quietly brought in a regulation which stipulates that banks need not return the debit/credit cards which their machines have swallowed.  “This regulation came in recently,” an RBI official told this correspondent. “It was brought in the interest of customer safety. As you know, these days, ATM related fraudulent activities are on the rise.” The official, however, agreed that the new norms were putting customers into lots of hardships. “I know a person who came to Kochi from Coimbatore and who tried to withdraw some money using his personalised Canara Bank debit card,” he said.  “But it was swallowed and he got the shock of his life when the bank refused to give him back the card.” “You can imagine his condition….stranded in a strange place without any money”, the official said. Mr C.K.Venkiteswaran, the Deputy General Manager of the Canara Bank, Coimbatore Circle, said his bank was only following the RBI norms. “We’ve been strictly advised not to return the swallowed cards unless it belongs to the base branch and used in the ATM attached to it,” he said.  Stating that the RBI norm was applicable to all banks, Mr Venkiteswaran said the swallowed cards retrieved from the ATMs were destroyed immediately.  However, he agreed the new norms could pose real trouble to the customers.  “We’re bringing this issue to the notice of our higher officials,” he said. “Let’s see what can be done.”     Asian Age