A file photo shows a client using an ATM in Dhaka. Bangladesh Bank has issued dispute management rules for inter-bank card-based transactions under National Payment Switch mentioning that they (banks) would have to settle the clients’ claim by six months.

Bangladesh Bank has issued dispute management rules for inter-bank card-based transactions under National Payment Switch mentioning that they (banks) would have to settle the clients’ claim by six months.
The BB issued separate circular and guidelines to managing directors and chief executive officers of all banks on Thursday asking them to apply to the central bank for settling the dispute if they failed to resolve the problem.
The clients usually face harassment in ATM and PoS transactions when they fail to receive the amount in line with their requirement.
Sometimes, the ATM machines do not provide the required cash although the fund is deducted from the clients’ account with the banks.
The BB guidelines said that the clients would have to submit applications before their account holders’ banks within 60 days after having failed to get their required cash from the ATM or PoS terminal.
The banks will have to resolve the dispute within a few days after submitting the clients’ claim, it said.
The banks, which acquire the debit or credit card of the clients, will have to submit the claim by maximum 25 days to the ATM or PoS terminal holder banks.
After getting the claim, the ATM and PoS machine holder banks will have to resolve the claim by maximum 30 days.
The BB guidelines, however, said the process would have to be completed in the shortest possible time so that the clients would be allowed to get the fund without facing any harassment.
The BB will play role as an arbitrator if the ATM or PoS holder banks deny repaying the claimed fund, the circular said.
The BB will scrutinise video footage from ATM booths along with the banks calculation to settle the dispute if required.
In a few cases, the clients receive partial amount from ATM booths against their requirement.
The banks will go to the central bank to settle such type of dispute on priority basis if they (banks) fail to settle the problem.
The central bank has recently introduced a ‘Dispute Management Software’ with the NPSB so that the banks can easily settle the clients’ claim. All banks, attached with the NBPS, are now allowed to use the software.
The BB guidelines said that the disputes would have to be settled by six months despite the central bank’s intervention as an arbitrator.