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What Happens If The Bank Refuses To Return Your Money?

Even more frightening than finding out somebody hacked into your account and stole money is when your bank advises that it believes no error occurred. In other words, the bank alleges that you authorized or allowed it to happen and refuses to return funds that were fraudulently or erroneously taken.

Consider SmithMarco, P.C., a source of information and advocacy when your bank account has been hacked and your back does not believe you or will not make it right.

How To Fight Back When You Have Lost Funds From A Bank Account

Laws spell out what banks should do when a customer reports losses from a bank account. When this happens and you raise objections, the following should happen:

  • A response to your dispute should come in the mail. If you wish to see whatever documentation was utilized to make the decision that the losses were authorized by you, a request can be made in writing. You should make that request and get those documents without delay.
  • You should be provided actual evidence that reflects why the bank concluded that you authorized the transfer. Moreover, the information should be actual evidence, not a general explanation without evidence. Be sure to keep all correspondence and if you converse with anyone at the back, record the conversation or keep detailed notes about what bank personnel told you. This is very useful information for your attorneys.
  • The bank’s investigation must be reasonable. Bank officials can’t legally ignore you. If the bank fails to conduct a reasonable investigation or comes to a completely unreasonable conclusion with the evidence they have, you may have a claim against the bank for violations of the Electronic Funds Transfers Act (EFTA).

EFTA cases can entitle the consumer to three times their lost damages, plus attorney fees.

At SmithMarco, P.C., we are consumer rights lawyers with vast knowledge and experience in bank-account cases. We urge you to contact us if you have had an experience like this with your bank.

From Offices Near Chicago, Illinois, And In Sarasota, Florida, We Serve Clients Nationwide

To schedule a consultation about your banking troubles as a consumer, call 888-915-0836 or send an email inquiry. Learn about your legal rights and how to assert those rights.

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