NEWS & ADVICE : CREDIT CARDS
Bank to compensate if ATM dispenses fake currency
By Ankit Sharma
Jan 30, 2012
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There are often complains about the fake currency dispensed by the ATMs. Such a situation be troublesome for the customers but now there is a concrete solution for such a situation.

Under any such instance the bank will be held responsible and it will have to compensate the customer.

The Joint Secretary of Cyber Society of India, Mr. S. N. Ravichandran said, "Banks cannot wash off their hands on the issue of fake notes dispensed by their ATMs and they are liable to compensate their customers. The customers should lodge a police complaint immediately on coming to know about the fake notes from an ATM."

He further said, "The police should book the chief executive of the bank as well as that of the third party agency that refills the machine with cash. If that happens, fake currency in ATMs would vanish."


 


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