If You Get Torn Notes From Bank ATM, Here is How to Exchange with Bank, Full Process

Many times it happens when we withdraw money from ATMs, then torn notes come into our hands. After which we get upset and this is also inevitable because it becomes very difficult to run this note in the market. However, now if you come across such torn notes, then you do not have to worry. Because now RBI has found a way to solve the problem keeping in view the problems of the people. Let us know what is this method…

Full details of Torn Notes will have to be given

If now the torn note comes out from the ATM then you can contact the bank. To exchange that note in the bank, a form has to be filled and submitted. In this, details of the time, date, and from which ATM it has been withdrawn will have to be given. Along with this, you will also have to submit the withdrawal slip. If the slip has not come out from the ATM, then you will have to attach the message to your mobile.

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What is RBI’s rule?

According to the rules of RBI, you can take the torn note from the ATM directly to the bank and tell the bank employee that this note has come out from your ATM and you change it. If the bank does not take your note even on this, then you can also adopt other methods. According to the Reserve Bank’s Exchange Currency Rules 2017, if you have found a torn note from an ATM, then it is the responsibility of the bank to replace that note with another note. It doesn’t take much time.

According to the rules, no bank can refuse to accept a torn note from an ATM. If banks violate the rules, then action can be taken against the employees of the bank and hefty fines are imposed.