What steps do you take if you find an error on your bank statement
In our podcast, "Review Your Bank Statement," Mary Beth Guard told you why you need to read your statements. Not reviewing them may allow errors to go undetected and unreported. If there are errors and you do not bring them to the attention of your bank within a time they specify, you could lose this money.
The Electronic Funds Transfer Act (EFTA) requires your bank to send you instructions on how to resolve errors. Another law, the Uniform Commercial Code (UCC) allows your bank to vary the time allowed to notify them of errors, other than those covered by the EFTA. These two laws provide you with rights and remedies, but you also have certain responsibilities.
In this podcast, Andy Zavoina tells you what to do if you find an error, as he did in his own statement. Following these steps will help you get your money back as quickly as possible.
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