Bank Accounts: Electronic Transactions
Automatic Withdrawals & Preauthorized Payments
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I canceled a service after the free trial period, but the merchant continues to charge my checking account every month. How can I stop this?
You should contact the merchant in writing and tell them to cancel both the service and the charges to your account. You could consider including in the letter information on how you previously requested to cancel the […]
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My checking account has unauthorized monthly charges/withdrawals from a merchant. The charges started eight months ago, but I just noticed them. The bank will not reverse the charges. How can I stop this?
Immediately notify the bank and identify by date and dollar amount the transactions that you did not authorize. The bank will review your claim and may ask you to complete an affidavit unauthorized use. To avoid liability […]
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Can I stop payment on a preauthorized withdrawal or automatic transfer?
If you authorized the bank to make the transfer to the merchant on your behalf, you need to revoke your authorization with the bank. You will need to notify your bank at least three business days before the scheduled date […]
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Last year I gave a vendor/merchant authorization to make a monthly automatic withdrawal from my checking account. Now I have canceled the service, but my bank won't stop the withdrawals. What can I do?
Write directly to the vendor/merchant to request no further debits to your checking account. You should provide the bank with a copy of the letter and inform the bank that these charges are no longer authorized. Keep a copy […]
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I closed my checking account, but the bank continued to accept the recurring charges from my insurance company. Why doesn't the bank reject these charges?
It is your responsibility to cancel all recurring charges with third parties before closing the bank account you authorized for payment. Generally, a recurring charge is based on an agreement between you, as the account […]
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How can I stop a preauthorized debit from being paid from my checking account?
If you authorized the bank to make the transfer to the merchant on your behalf, you need to revoke your authorization with the bank. You will need to notify your bank at least three business days before the scheduled date […]
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I just noticed an electronic fund transfer on my statement that I did not authorize. That same charge appeared on my prior statement as well. What should I do?
You should notify the bank immediately of the issue and provide certain account information (e.g., name on the account, type of account) and information about the transactions you did not authorize. Under applicable law, […]
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Debit Cards
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The bank captured (took) my automated teller machine (ATM)/debit card and stated that it would be destroyed. Can the bank do this?
In some circumstances the bank can destroy your ATM card for security reasons. Contact your bank to get a replacement card.
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My ATM/debit card has been lost/stolen. What should I do?
You should notify the bank immediately after learning of the loss or theft of your access device (ATM/debit card). If you do so within two business days, your liability will be the lesser of the following: $50 The amount […]
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Electronic Banking Errors
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My checking account statement contains an error due to an electronic funds transfer (debit card/ACH/preauthorized withdrawal)? What should I do?
For personal/consumer accounts, you generally have 60 days from the date the bank sends the periodic statement to you to contact your bank. Notify the bank in writing of the error and keep a copy for your records. The bank's […]
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How long can the bank take to correct an electronic funds transfer (EFT) error and credit my account?
Generally, a bank can take up to 10 business days after being notified of a potential error to determine if an EFT error has occurred. The bank should respond to you within three business days of completing its […]
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I filed a notice of error with the bank regarding an electronic funds transfer (EFT) error that happened five days ago. The bank has not responded. What can I do?
Contact the bank to make sure the notice of error was received and to check on its status. For consumer personal accounts, the bank should respond to you within three business days of completing its investigation, but […]
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Wire Transfers
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How much can a bank charge for a wire transfer?
Federal laws do not establish a maximum amount that a bank may charge for wire transfers. The bank decides how much to charge for this service, subject to any state law that may apply. Banks are required to disclose any […]
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Money was wired from my account to another party, but that party did not receive the money. What can I do?
If the bank initiated the transfer, notify the bank immediately so that it can investigate your claim. If you first contact the bank by phone, it is a good practice to follow up in writing. If you wired the funds through […]
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Money was wired to me, but it isn't in my account. What can I do?
Contact the party that wired the funds to you. Ask them to notify their bank or any third party (such as Western Union) that they may have used to wire the funds.
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