Technically speaking, you should never get a fake currency note from ATMs. Sadly, it happens as was seen in news reports in the last few days about fake Rs 2,000 notes from Delhi ATM machines. So, what do you do when you get fake notes from ATM. Here’s what you must do to get back your money.
The Reserve Bank of India guidelines on counterfeit notes clearly stated that all banks must take responsibility for fake notes from their respective ATM machines. Why? It is because all currency notes undergo a forged detector test before the security contractors are deployed to deposit the money into ATMs.
HERE’S THE BIG ‘BUT’
Despite the RBI guidelines, no bank will give you real currency notes in exchange for the fake notes that you got from the ATM. You’ll need to prove that they you received the fake currency notes from a particular ATM machine.
HERE’S HOW TO PROVE YOUR CLAIM
If you immediately came to know that you got fake notes while you are in the ATM, just hold up the fake notes in front of the ATM CCTV camera. If there is no CCTV camera or if the CCTV camera is not working, alert the guard. It’s better to raise a complaint when you are at the ATM itself. Once you step out, it becomes difficult to prove where is the origin of the fake note.
MAKE SURE YOU KEEP THE RECEIPT
Keep the ATM receipt with you. It will be handy for later use. Go to the ATM branch (from where withdrew the fake currency) and hand over the fake currency note to the officials. Once the note is proved that it is fake, they will stamped it as “Counterfeit Note” and it will be impounded (taken) by the bank. Don’t forget to get the acknowledgement receipt.
Please note that you will not be given back the fake money or immediately reimbursed on the spot. You’ll have to be patience.
Now, it is the job of the bank to file an FIR about the fake note. In case you received fake notes up to 4 numbers during a single transaction, the Nodal Bank Officer should forward a consolidated report to the police, along with the fake currency notes, at the end of the month.
For over 5 or more fake notes, received in a single transaction, the notes must be forwarded to the local police or the Nodal Police Station by the Nodal Bank Officer for immediate investigation by filing an FIR.