It’s no secret that you work hard for your money. That’s why discovering a transaction you did not authorize can make your blood run cold. Whether it’s $100 or $100,000, taking the steps to dispute the transaction with your bank is critical to protecting yourself as a consumer. However, if the bank refuses to refund the money wrongfully moved from your account, you may be at a loss for how to proceed. If this reflects your circumstances, don’t give up yet. The following blog explores what you can do if you’re at a standstill with your bank and why working with a San Diego County fraudulent charges lawyer is imperative to fighting for your rights as a consumer.
What Should I Do if I See an Unauthorized Transfer?
When you see an unauthorized transfer in one of your bank accounts, understanding the steps you must take is critical to ensuring you can get the matter resolved efficiently. Generally, the first thing you should do is immediately contact your bank to file a claim to have the issue reversed. It’s important to file a claim as soon as possible, as it can help limit your liability.
The bank is legally obligated to investigate your claims of fraudulent transactions. This is often given a ten-day time limit, and if the outcome of the investigation determines fraud did occur, they must correct the error within one day of this conclusion. However, banks often fail to investigate thoroughly, meaning they may come to the conclusion that the transaction was authorized by you, thus resulting in you failing to receive your hard-earned money.
If the Bank Refuses to Refund the Stolen Money, What Can I Do?
If the bank issues a negative decision regarding the dispute you filed for an unauthorized transaction, you may feel hopeless. However, it’s important to understand there are additional steps you can take to fight for the funds to which you are entitled. The first thing you should do is review the written notice issued to you by the bank. This will explain what they discovered in their investigation. If this does not provide insight into the matter, you can file an appeal.
In the event you are still unable to receive the money unlawfully taken from your account, you should connect with an experienced attorney. Unfortunately, many consumers do not realize how many laws are on their side and, thus, may not be inclined to take legal action against a bank. However, laws like the Electronic Fund Transfer Act (EFTA) and Fair Credit Billing Act (FCBA) are in place to help ensure consumers are granted protection in matters of fraud.
At Barthel Legal, we understand that fighting your bank can seem like a David and Goliath situation. That’s why connecting with our team can help even this fight, providing you with the best possible chance of receiving a favorable outcome. When you need help, our team is here. Contact us today to learn more.
