Got $500 from ATM but $1,500 deducted from account

[streetcry]

ON MONDAY afternoon, I keyed in $1,500 for withdrawal from a POSB ATM in Choa Chu Kang Avenue 4, but only $500 was dispensed from the machine.

A transaction receipt was issued, but it did not show the amount withdrawn, only the available balance.

I tried to withdraw $1,000 from the same machine a couple of times but received the message that no cash would be dispensed as I had exceeded the withdrawal limit for the day.

I was curious to find out why I had exceeded the withdrawal limit so I went to the DBS Bank branch nearby to update my savings passbook and found $1,500 had been debited from my account.

I lodged a complaint with a DBS Bank officer about the $1,000 additional debit and by 6.14pm received an SMS message from the bank advising me that the amount had been credited back to my account. I checked and found that it was so.

Here are some questions which I hope POSB will address:

1. How could this have happened without the machine notifying me of the error?

2. If I walked away without checking the actual amount that had been debited from my account, would the bank know about the excess $1,000 and call me to notify me of the error?

3. What would have happened if I discovered this error months later? Would the bank still entertain my claim?

4. If the machine makes an error, is the onus on me or the bank to inform the other party?

Nelson Quah

http://www.straitstimes.com/ST+Forum/Online+Story/STIStory_348875.html

 

[DerekLeung]

DBS got to do this to delay tactics !

They ran out of cash and blame computer glitches !

They going to shift to Changi South soon !

 

[Cactaur]

Thought all ATM now have a max of 1k withdrawl per transaction. Meaning if you want 2k you need to withdraw twice. Something not right with his story leh.

 

[tonychat]

SInkie sinkie sinkie,

Sometimes, things will function in error. What is the big deal? That is life.

When you met an error? Just take the appropriate action and deal with it, then forgive the them.

SInkies like to make a small thing like damn so serious. Now i do know that sinkie do not know what life is.

There are more serious things like climate change, animal killing, these things sinkies do not understand?

 

[SIFU]

thai loser, thai loser
Sometimes, things will function in error. What is the big deal? That is life.

When you met an error? Just take the appropriate action and deal with it, then forgive the them.

thais like to make a small thing like damn so serious. Now i do know that thais do not know what life is.

There are more serious things like climate change, animal killing, these things thais do not understand?

 

[streetcry]

Latest comments

Mr. Quah, Take heart. You're not the only one to cop it. Happened to me 3 times so far (though not with POSB), twice with my wife and probably thousands of ATM users everyday.
You'd probably agree that life wasn't meant to be easy; IT, ATM and everything in life is not perfect. That's one of the reasons why the banks impose a $2000 withdrawal limit per day, I suppose. Even if your valid questions are answered, they won't prevent further recurrence and that's for sure.

 

[streetcry]

Yes you are right you can fix your withdrawal limit at the ATM thru the my ATM function on DBS.

But to increase it beyond the maximum that if you not set it to max which is 3000 in the a case of DBS you have to fill the form again.

But I was not talking about this and you were answering to my so call ganesharmak but use my moniker which is ganeshsharmak. just FYI.

My bewilderment as Commander aptly explained is how Nelson did not get a rejection message for keying $1500 because it is impossible to withdraw more than $1000. So if you want to withdraw you max limit of 3K you got to the drill 3 times minimum. Other configs possible.

Whatt shocks me is how Nelson got $500. So I reckon i still have to vigilant next time.

 

[streetcry]

Nelson complained about the withdrawal limit,amongst other thing

I said ATM withdrawal limit can be fixed by account holder, and I had fixed mine before..............I DID NOT say I could fix it at the ATM by myself

If it has to be done inside the branch to change/fix the ATM withdrawal limit, then do it. IT CAN BE DONE. That is what I said

 

[streetcry]

you can set the ATM withdrawal limit to suit your pattern to avoid inconvenience

 

[streetcry]

bumibumi, the 1st time you open an account and they issue the ATM card, you would've indicated this limit. subsequently, if you want to increase/change this limit you'll have write (ganessharmak is correct) in or go to the teller for changes to take effect.

depending on your bank, limits for internet transfers/bill payments can be set within your internet account, but this limit is different from your ATM/NETS limits.
Posted by: firmhold