Skip to content

Written Notification- Credit for Unauthorized ACHs

Answered by: 

Are financial institutions required to give written notifications to customers when the bank gives credit for unauthorized ACHs?

No. You are obliged to notify the consumer customer of the results of your investigation within 3 business days after completing the investigation. If you determine that no error occurred or an error occurred other than the one the customer claimed, you have to provide a written explanation of your findings and inform the consumer of the right to request the documents you relied on.

Although that's the only instance in which the notice must include written information, providing and retaining a copy of a written notice can be an effective way to document that a require notice was given.

First published on 09/15/2019

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics