Will the bank pay me for the stolen money from my ATM account?

It very much depends on the bank's Terms and Conditions (you should have been given a copy when you opened the account). Many banks do undertake to refund any money stolen in this way, though nearly all will need to investigate the theft fully to make sure that the claim is valid. You will have to wait until they have completed their investigations, I'm afraid, but you might enquire about the possibility of an overdraft facility and whether the interest charged will be refundable if your claim is successful. Many banks will be prepared to help a customer in this way. I once had the same thing happen to me. The information on my card was 'skimmed' (using a machine to copy the data) and a false card was made which was used some months later to remove cash in Italy. Fortunately, it was quite easy for them to see that I could not have been in Italy on the dates concerned and I got a full refund (including the extra charges involved in going overdrawn) in about a month. They also cancelled the card immediately, of course, and issued me with a new one. Since then, I have made sure that I never let the card out of my sight when using it and, now that we have 'Chip & Pin' verification, this is a lot easier.

it happened to me years ago. i was withdrawing money, no cash came out, but the amount was deducted. it was a payroll account. i walked back to our office and told our payroll. they gave me the number of the branch of the bank where we have a corporate account so i can report it. i can't remember anymore if it took 2 days or a week to be returned. i think i had to borrow a small amount for the meantime. i hope the investigation turns out in your favor and you get what's rightfully yours.

That is so scary to hear that things like that happen. Although I have only very little money in the bank, but of course, I do not want anyone stealing what little money I have there.

The only experience I had so far is when the amount was debited and the amount was not dispense. I was able to get my money back in a matter of 3 days. They credited it back to my account. I also heard several complaints regarding this matter but so far I haven't heard any result. Hopefully, the investigation would be favorable. They can surely trace the records of it. It's a sad thing that our money is not safe because even if we have the card, there is a big chance that our money can be stolen.

Most banks have great insurance policies for that... Hope you get it back quickly....

You can have your money back but it depends on the result of the investigation of what really happened.

Yes the bank repays the stolen money if you're held liable and it may take couple of months so be patient.It has happened with one of my friends.The man somehow got her credit card details and made the on-line purchase on her card.The police caught the man after a month-long investigation and two months later she eventually got her money back.

[b]This happened to me almost exactly!!! There had been some glitches on the machine and the next person to me got almost ALL our ATM money. I am trying to withdraw an amount of 50,000. What I didn't remember was the maximum withdrawable amount is 25,000 for that kind of ATM. I keep on punching 50,000 but the machine stops and told me that I had a wrong PIN number. It should have told otherwise. Since I took time in machine, I let the man behind me to withdraw. I did notice that upon entering his ATM card, money dispense right away. I should have confronted that man right away but I am having second thoughts since it is only a doubt. Ten minutes later after that, I reported it to my bank which is just nearby. The bank people put me on hold for more than half an hour. After that, they told me that nothing was minused in my ATM. I was shocked the next day upon checking my account that the money in it was gone! I made a formal letter to the bank and had called its hotline number. I had told them if I could look at the CCTV records and maybe they could talk to that person in private. I have my ATM receipts but like you, the bank can't give clear answer. [/b]

Like the previous reply on this discussion, it really depends on the terms and condition of your bank carrier. Some Banks do have refunds most especially those accounts that were hacked by other people. Some Banks don’t have such laws and you won’t get a refund from the stolen money. However, refunds are quite a long process to make because you have to explain and in some rare cases, even hire a lawyer just to let the bank give you a refund from the stolen account. If such would happen, you should first call up your local bank carrier and contact them that your account was hacked so that they can freeze your account and hold the remaining balance, although the refund process really differs from bank’s terms and condition.

hi red. just curious to know what happened since you posted this discussion. hopefully something positive.

Oh my. I hope everything gets back to normal and you get your money soon

If your account is personal, I think you have insurance for that. You really can't get a straight answer from bank representatives, you should ask directly from the manager of all managers in that bank the very head of them.

Sorry to hear this.No bank in the world has that liability to pay the customer the lost amount.If your customer executive told this, you need to get this in writing.But what you need to do is file a case and sue them for what has happened.This would force the bank to admit the fraud and also give you the amount.You could sue an additional amount for the court charges and things.It has worked for many people but then it could take a year's time to get all the settlement.Plus you need a good attorney for the things.What is told or verbal has no proofs in court.So get the written statement from the bank , that they are liable to pay the things and damage.Ensure that the statement has a bank seal and a valid person signed as well.Else its not valid.If so,then you need not go to court, though its nice to check the legal validity of the terms and things they specified with an attorney.Also check the bank website for the terms and conditions related to such incidents.Wish you all the very best and hope you get back your hard earned money.Thanks!

I have stopped using ATM machine, because the changes a large fee, for using them I hope you are able to get your money back, but it's going to be a very long wait, on getting your money back people are not honest, I hope the best come out for you.

Reporting this kind of incident to the bank is the first sensible step to take in righting the wrong to your bank account. there are certain procedures to follow and the bank will investigate. If they believe that the money was stolen and can verify the transaction then you just might see the money back into your account over time. It all depends on the policies of your bank.