According to the Electronic Fund Transfer Act, consumers can notify their financial institution about unauthorized use in person, by telephone, or in writing. If you are a victim of bank transfer fraud, tell your bank the following information:
- Your account details or information sufficient to identify your account (such as the name on the account and account type).
- A description of the unauthorized transaction(s) and the date(s) they occurred.
When and how you discovered the fraud. - Any supporting documentation, like statements showing the fraudulent charges.
- Request that they investigate the fraudulent transactions and correct your account.
Be sure to notify your bank as soon as possible to limit your liability under the EFTA.
