How long can the bank take to correct an electronic funds transfer (EFT) error and credit the checking account?
Generally, a national bank can take up to 10 business days to determine if an EFT error error has occurred. The bank should respond to you within three business days of completing its investigation. If the bank cannot make a decision within 10 business days, it may take up to 45 days to determine if an error has occurred. In this case it must provisionally (temporarily) reimburse your account. (Note: Depending on the type of transaction, the 45-day limit can be extended.
Related Questions
- Can I also enroll in NYSEGs Electronic Funds Transfer (EFT) service and have my bill payments automatically deducted from my checking account if I enroll in NYSEGs e-Bill service or another online billing service?
- How long can the bank take to correct an electronic funds transfer (EFT) error and credit the checking account?
- Where do I view the current bank information for my Electronic Funds Transfer (EFT)?
