What to do when an ATM dispenses torn banknotes?

When an ATM runs out of cash, banks can blame it on overload or network congestion. But what about when you receive torn banknotes? How will banks respond in such cases? What should customers do in this situation?

A tattered 100,000 VND banknote was dispensed to the customer by the ATM.
Source: Zing News

In conversations with us, many people expressed their frustration because the ATM system of Asia Commercial Bank (ACB) at the Nguyen Trai branch, located at 84 Nguyen Trai Street, Ward 3, District 5 (Ho Chi Minh City), continuously dispenses torn banknotes.

Mr. Nhan, a resident of District 5, said that every time he withdraws money, he worries about the machine dispensing torn bills, which no one will accept if he puts them into circulation. Whenever he receives torn bills, he has to rush to convenience stores, banks, and gas stations to exchange them. The fee for each exchange is at least 8,000 dong.

Ms. Linh, residing on Tran Phu Street, Ward 4, District 5, also stated that she had just withdrawn money from the ATM. Upon returning home, she discovered that the 100,000 VND banknote was torn and unusable. “I feel very upset and annoyed. Why would a large bank like Asia Commercial Bank (ACB) put torn banknotes into its ATM system? The inspection and entry of money into the system is very strict, so why did this happen? Is this a deliberate act, or is the ATM department of the bank being too careless and irresponsible?” Ms. Linh said.

For a long time, banks have been places where people could confidently conduct transactions without fear of receiving torn or poor-quality banknotes. However, the situation of ATMs dispensing torn banknotes to customers, as mentioned above, may be causing many people to become increasingly "obsessed with ATMs." Meanwhile, another customer, Ms. Thanh (residing in Phu Nhuan District), recounted an experience when withdrawing money at a Vietcombank ATM on Hai Ba Trung Street (District 1). Among the 100,000 VND banknotes she received, two were torn and had missing corners.

Taking a chance, she went to a nearby Maritime Bank branch and was informed by the teller that withdrawing money at a Maritime Bank ATM would be free (provided she presented the transaction receipt), while withdrawing at other ATMs would incur a fee (she couldn't remember the exact amount, but it was no more than 8,000 VND). Therefore, the best course of action for people receiving torn banknotes from ATMs is to take them to the bank for exchange. According to Vietnamese law, exchanging money outside of official transaction systems (such as banks) is considered illegal.

This procedure is very clear, but not all people know about it. Or, not everyone carefully prints or keeps a receipt after a transaction because printing receipts now incurs a fee, further causing people to skip this step. However, the most important issue right now is that people need an official answer and explanation from the bank, especially in the case of Asia Commercial Bank mentioned.

According to Zing.vn