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Bank Mistake Continues: Wants Compensation
My bank let someone deposit two checks and withdraw one worth $1500 from my account. They caught the first check. Before I could close the account, someone withdrew $1500 dollars. The bank took the $1500 and overdraft fees from my new account, after I had frozen it. Is this legal for them to do, since there's a fraud investigation in process, and their mistake. Can I be compensated for their mistake?
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 It certainly seems unreasonable for the bank to assess fees to your account for fraudulent activity committed by a third party. You have every right to expect a refund of those fees under the circumstances you've outlined. As for the $1,500, unless the bank can demonstrate that you received that sum, it should not have charged your new account for that amount, either.
You should insist on a full accounting for the transactions, and a refund of all funds for which you are not legally accountable. Once the bank has made things right, unless you are comfortable that the bank won't again make unwarranted charged to your account, you should strongly consider moving your banking elsewhere.
Published on BankingQuestions.com 4/06/09
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