The bank paid a check from my account that was for the wrong amount. The bank stated that I waited too long to report the loss. How long is too long?
It's your responsibility to review your periodic statement and advise the bank of any errors. Generally, you have 30 days from the statement date to find the error and notify the bank.
If the loss occurred from a fraudulent endorsement with a check, state statutes typically allow up to one year from the statement date to provide notification.
If the loss occurred from an electronic transaction, you should notify the bank as soon as possible, as there are separate laws that address this type of transaction. Generally, you have 60 days from the statement date to notify the bank of an error involving an electronic transaction.
Review your account agreement for policies specific to your bank and your account.
Last Reviewed: October 2020
Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.