Posted By: HR Banker
Unauthorized Transactions Issue - 08/13/12 05:32 PM
Customer finds unauthorized ATM transactions on their account. Thinks these were done by family member but no idea how they got the PIN.
1. Are we correct in that we have to credit the customer back for the charges less the $50?
2. Are we correct that we cannot require the customer to file a police report or agree to press charges?
3. Does it matter that the customer made some transactions in between the disputed ones? Their card evidently was not permanently stolen but must have been taken and returned.
4. Once we give money back then we have to gather all the information from the ATMs used (not ours)and file the police report and this investigation has to be completed in 90 days?
Management is concerned that there could be many false claims of unauthorized activity as it seems too simple to get your money back from the bank. All you have to do is sign a paper that says you didn't do it and then it's the bank's problem to try to prove otherwise.
Just trying to make sure I have my facts straight in trying to answer management's questions. Can someone please verify or clarify my facts? Thanks.
1. Are we correct in that we have to credit the customer back for the charges less the $50?
2. Are we correct that we cannot require the customer to file a police report or agree to press charges?
3. Does it matter that the customer made some transactions in between the disputed ones? Their card evidently was not permanently stolen but must have been taken and returned.
4. Once we give money back then we have to gather all the information from the ATMs used (not ours)and file the police report and this investigation has to be completed in 90 days?
Management is concerned that there could be many false claims of unauthorized activity as it seems too simple to get your money back from the bank. All you have to do is sign a paper that says you didn't do it and then it's the bank's problem to try to prove otherwise.
Just trying to make sure I have my facts straight in trying to answer management's questions. Can someone please verify or clarify my facts? Thanks.