I just noticed a charge on my statement that I did not authorize. That same charge appeared on my prior statement as well. What should I do?

You should notify the bank immediately of the issue and identify the date and dollar amount of the transactions you did not authorize. The bank will review your claim, and as part of the process, and may ask you to complete an affidavit of unauthorized use.

There are three possible tiers of consumer liability for unauthorized electronic fund transfers depending on the situation. A consumer may be liable for up to $50, up to $500, or an unlimited amount depending on when the unauthorized electronic fund transfer occurred.

The timing of your notice to the bank is critical. To avoid liability for subsequent transfers, you must report to the bank any unauthorized electronic transaction that appears on your checking account statement within 60 calendar days of the bank's transmittal of the statement. The bank may hold you liable for any transactions that occurred more than 60 days after the statement was transmitted and before you notified the bank.