Bank error ~ Consumer Advocate ~ Tim Duffy

Consumer Advocate ~ Tim Duffy
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		Letters to Tim ™

	Bank Error
	Tim, I bank with Netbank of Alpharetta Georgia. They are good folks. I recently balanced my wife's checkbook. In balancing it I noted a double charge several months back. I pointed it out to Netbank, but they say that I can only contest my statement for 60 days. That doesn't seem right. That would legalize fraud and say that crime can pay if you wait long enough. If you could help me with this I would appreciate it. Thanks so much, Roy
	Tim's Answer
Roy, You're out of luck. The Federal rules state that you have 60 days from the date you receive the first statement with an error to dispute it, you can call but this doesn't protect your rights. To fully protect your rights you have to notify the bank in writing within this sixty-day period. This rule applies to all banking transactions, also to your credit cards. This notice is in all bank and credit card agreements and all statements. In the future read all of the agreements, even the fine print. You didn't say how much money was involved. I hope it wasn't too costly a lesson. Tim More letters to Tim ™ Back to Top

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