Seven Day Time Limit

Answered by:

Question:

Is there a seven day time limit for asserting a claim of untimely returns to a paying bank?

Answer:

If the check was handled by the Federal Reserve Bank, the time limit is two months from the date the item was charged to your account. You should consult the rules of any other clearinghouse that might be involved.

First published on BankersOnline.com 7/16/07