Things to remember while doing cash withdrawals through AEPS
It Is IMPORTANT to refer to the Transaction Status as displayed On MATM/ CBS only.
DO NOT hand over cash to customers for Withdrawal transactions UNLESS SUCCESS message is displayed on MATM/CBS
ALWAYS CHECK STATUS of the transaction BEFORE handing over Cash to customer
– If MATM / CBS screen DOES NOT DISPLAY the Status due to any reason, CHECK STATUS in TRANSACTION HISTORY
– IF Transaction Status is SUCCESS in Transaction History, THEN ONLY hand over Cash to customer.
DO NOT hand over cash to Customers for Cash Withdrawal Transactions Basis Debit SMS Alert from Customer’s Bank
– Many a times Issuing Bank (Customer’s Bank) debits Customer Account BUT still the transaction FAILS, Issuing Banks pass REVERSAL for such transaction in Customer Account and DOES NOT PAY IPPB
– FAILED transactions for which customer account is DEBITED, the issuing bank reverses the transaction WITHIN 5 DAYS.
– IF NOT REVERSED within 5 days, customer should RAISE a complaint to HIS/HER (ISSUING) BANK
– Because of LIMITED STAFF and INCREASED VOLUMES due to lockdown, reversals are getting DELAYED for few banks. Assure the customer that it is being looked into and resolved.
DO NOT HANDOVER CASH to Customer BASED ON CASH REPORT – HFINRPT,
– For FAILED transactions adjustment entries get posted, so this report SHOULD NOT be referred for Payments
– Bank will go OUT OF FUND for such transactions If processed and will lead to RECOVERY from customers.