One of my credit card companies processed a payment twice. It overdrew my account and the bank did not pay the second ACH, which was good. However, it overdrew my account for that day, and three checks bounced. I signed an ACH fraud form. Does the bank have to refund me the overdraftfees?
If the underlying transaction that created the overdraft in your account was an error, you should file an error claim under Regulation E with your bank. In spite of the fact that the bank apparently returned the second charge to your account, that transaction was a reversible error. The bank should agree, and should reverse any of its fees directly caused by that error. All of this hinges on your account being a consumer, or household account, since the regulation does not cover business accounts.
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If the underlying transaction that created the overdraft in your account was an error, you should file an error claim under Regulation E with your bank. In spite of the fact that the bank apparently returned the second charge to your account, that transaction was a reversible error. The bank should agree, and should reverse any of its fees directly caused by that error. All of this hinges on your account being a consumer, or household account, since the regulation does not cover business accounts.
