Does my bank have to pay?

Answered by:

Question:

If our customer claims an EFT is unauthorized, we have to make sure they get a credit for the transaction, right?

Answer:

Nope. The bank’s obligation is to investigation and resolve the claim; that doesn’t necessarily mean the bank has to pay up or find a way to return the transaction. The investigation may prove it’s not an error for you to handle or evidence may demonstrate the customer benefited. These are just two ways to deny the claim.
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Learn more about Rayleen Pirnie’s webinar
Investigating Unauthorized EFT Activity