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Bank Error
(redirected from Bank Errors)

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Bank Error
A situation in which a bank incorrectly states the amount of money in an account. It may occur for a number of reasons, such as a payment that does not clear or a deposit that is placed in the wrong account. Persons benefiting from a bank error ordinarily are not entitled to keep the extra money because the bank (or the true owner) has a certain amount of time (usually years) to find and reclaim it.


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Oppenheim Law spotlights how the recent bank errors are leaving foreclosures in question.
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Not recording your address correctly or charging a purchase to the wrong account are other bank errors that may result in unfair fees.
 
 
 
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