Claims can be awarded under this regulation even where the bank did everything else right-where they did a proper investigation, but they didn’t follow the rules and tell you why they did what they did.Ĭan I file a lawsuit against my bank over disputed transactions, or do I have to arbitrate? You may have a legal claim if your bank doesn’t tell you why they denied your disputed transaction. Often banks don’t do this, or they just send you a one-line e-mail saying they denied your dispute. The institution’s report of the results of its investigation shall include a written explanation of the institution’s findings and shall note the consumer’s right to request the documents that the institution relied on in making its determination.” 205.11(d)(1), requires the bank to provide a written explanation of the findings of their investigation into your disputed transactions: “Written explanation. We don’t charge for consultations or to evaluate your claim.ĭid the bank provide a written explanation of their investigation?Ī federal regulation called “Regulation E,” 12 C.F.R. If you tried to dispute an unauthorized transaction and your bank won’t help you, call us at 65. Or they try to tilt the investigation their way. They ignore proof you might have that the transaction wasn’t actually authorized. They pretend to do an investigation, but don’t really. Whether you can sue depends on whether your bank followed the law-but often they don’t. They’re required to let you know about that right to request copies in their report of the results, too. They have to respond to you and let you know the results of the investigation, and when they do, you’re allowed to request copies of the documents they relied on in their investigation. If you tell your bank (either orally or in writing) that you think there’s been an error in your account, identify the account for them, and tell them the amount of the error and why you think there’s an error, the law requires them to investigate to figure out whether there really was an error or not. There are tons of scam companies on the website that do this with fake “free trials” or other tricks to get your debit card information and just start billing you. Most often, someone will bill you without your permission. Maybe someone saw your PIN at an ATM and used it to get into your account. Maybe your card got stolen, or there was identity theft, or you lost your wallet. Usually this happens when you notice an unauthorized transaction. Banks had such a bad track record with helping consumers that Congress had to step in, and they created the Electronic Funds Transfer Act (EFTA), which applies to debit card accounts (but not credit cards). Keep a record of the letter or email you’ve sent.If you’ve disputed a charge on your debit card, you have rights created by federal law.Explain what you’d like the credit card company to do, which will usually be to refund the purchase price into your credit card account – be sure to state: “I am making a claim under section 75 of the Consumer Credit Act”.Tell them that you’ve tried to contact the company you bought the goods or services from and what the response has been – if any.Include copies of receipts if you have them (if not, you’ll need some other proof of purchase). Write to the credit card company, stating what you bought, where and when you bought it and how much you paid.If you pay for something on your credit card and there’s a problem, firstly contact the company you bought it from, to give them a chance to put things right.īut if they don’t reply, or they won’t give you a refund, or it’s clear there’s no point in contacting them (as they have disappeared or gone into liquidation), you can make a claim against your credit card company.
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