Under federal law, specifically the Electronic Fund Transfer Act (EFTA), you generally have 60 days from the date the fraudulent transaction appears on your bank statement to report the unauthorized transfer to your financial institution. If you report within this window, the bank is obligated to investigate and may be required to reimburse your losses, depending on the circumstances.
Failing to report the fraud within this 60-day window can significantly reduce your legal protections. After this period, you may be held responsible for losses beyond the first $50. In California, depending on the facts of your case, additional consumer protection laws may apply, but prompt action is always your best defense. Documenting and submitting your complaint in writing can create a stronger legal trail and increase your chances of recovery.
If you’ve missed the 60-day window, all hope is not lost—especially if the bank was negligent or the fraud was not reasonably discoverable within that timeframe. A bank transfer fraud attorney in California can help assess the situation and determine whether exceptions or additional remedies apply. Taking swift legal action increases your chances of recovery and prevents further damage to your financial accounts.
