CONTENT

  DEPARTMENTS



  DETAILS
Legend for Icons
 Article    Q&A

 Podcast  Video

 Blog  Discussions

PDF    Powerpoint
BankingQuestions.com Web

  Home >> Accounts  
How is Bank Error Corrected?

If my bank has made a payment from my account to another private person by mistake, does the other person have to pay it back and does the bank have to pay me back?

Untitled

You certainly have the right to request a correction, since the bank had no right to charge your account. The bank will have a similar right to attempt to collect the funds from the third party. Whether the bank gets its money back or not should not affect whether your funds are returned.

Published on BankingQuestions.com 2/03/09