My fiancée and I have a joint checking account that requires two signatures. Recently, she successfully made a very large bank transfer from this account to one of her personal accounts without my permission. How long do I have before I can no longer hold the bank responsible?
Untitled
Before you think about going after the bank, check the deposit contract or agreement that applies to your account. Very few banks open accounts on which they will agree to enforce requirements for multiple signatures. Those that do often charge an extra fee for checking each transaction. Unless you have a copy of an agreement showing that the bank agreed to a two-signature requirement, your protest to the bank could prove embarrassing.
Assuming that the bank did agree to enforce a two signature rule, you should make up your mind quickly about whether you want to protest the transaction. Many banks have a contract requirement that limits how long a depositor has to make a claim for an unauthorized transaction.
Lastly, you need to resolve matters with your fiancée. This mess involved a significant amount of money. Once you're married, more than just a joint bank account will require that you be able to trust one another.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Before you think about going after the bank, check the deposit contract or agreement that applies to your account. Very few banks open accounts on which they will agree to enforce requirements for multiple signatures. Those that do often charge an extra 