Atm Transactions at Banks

The guest every(prenominal)eges that in March, 2003 he attempted to withdraw monies from an automatize teller machine. The bait became stuck and was eventually captured by the machine. The machine thereafter issued a notice that read: Temporarily Out of utility. The guest visited the cant the following day and informed a vernacular officer of what had transpired. Internal mark offs were do and the node was informed that his bill of fare was not at the differentiate in question. The guest was asked to move oer after functional hours so that a further check could be do but he decided to croak to his home secern to explain the situation and obtain hard currency over the counter. On arriving at his branch, he was informed that his card was single-valued function twice on the said morning that he made the report at the branch where the card was runner captured. This resulted in unauthorised withdrawals of over $2,000. After investigations, the bank reimbur sed the customer for the monies recede by the unlawful party, less $500. The bank invoked persona 19 (2) of the Electronic Transfer of Funds Crime play nary(prenominal) 87 of 20000 as the basis for its decision. This Sub-Section gives the card issuer the potence to levy a charge of $500 in trusted circumstances concerning the use of ATM machines.

The bank held the view that the customer did not behave the necessary precaution at the machine when he acquire that his ATM card thereby create a culprit to become privy to his PIN when he was attempting to retrieve his card. The customer however remained dissa tisfied and believed that he was authorize ! to be reimbursed for the rich amount that was withdrawn by the perpetrator of the fraud. The Ombudsman wrote to the bank on the matter and pointed out that the customer had met all the conditions that allowed for a all-inclusive return under the said Act. The bank agreed to refund the customer the sum of $500 that was withheld since the customer had made his sign report within the time stipulated in the Act.If you want to come a full essay, order it on our website: BestEssayCheap.com

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