Posted By: TeamComply
Incorrect Account Number Provided by Consumer - 12/04/17 06:07 PM
In the case of an incorrect account number being provided by the consumer for a remittance transfer, bank sends the wire as requested and the wire is returned (due to incorrect account number), is oral notification to consumer (customer) sufficient or must this be done in writing under the remittance transfer rules? In this type of situation, bank typically notifies customer orally, customer obtains correct account number and wire is resent. Under the error resolution requirements does anything need to be sent to the customer in writing? Thanks.