Unauthorized Bank Charge Dispute

What is this workflow?

This workflow is designed to help individuals dispute unauthorized bank charges, including fraudulent ACH transfers and debit card transactions. It provides a clear process to follow, ensuring that consumers can protect their financial rights effectively.

Who should use this workflow?

This workflow is ideal for consumers who have identified unauthorized transactions on their bank accounts and wish to recover their funds. Whether it’s due to fraud or errors, this guide will assist in navigating the dispute process.

What you'll need

• Bank statements showing unauthorized charges
• Documentation of initial fraud reports
• Access to the internet to upload documents
• Certified mail receipts or fax confirmations

Step-by-step process

1. Identify unauthorized charges on your bank statement.
2. Upload the bank statement showing the fraudulent charges.
3. Secure your bank account to prevent further unauthorized transactions.
4. Document your initial fraud report and upload confirmation.
5. Understand your rights under Regulation E.
6. Generate and send a written dispute letter to your bank.
7. Upload proof of mailing for your dispute letter.
8. Request provisional credit from the bank.
9. Wait for the bank to conduct their investigation.
10. Review the bank's decision and denial explanation if applicable.
11. File a complaint with the CFPB if needed.
12. Follow up on the bank's response to the CFPB complaint.
13. Consider legal action if the dispute is unresolved.

Expected timeline and outcomes

Expect the dispute process to take several weeks, with the bank required to respond within specific time frames. Outcomes may include recovery of funds or further escalation through regulatory bodies.

Tips for success

• Keep detailed records of all communications and documentation.
• Act quickly to secure your account and initiate disputes.
• Stay informed about your rights under consumer protection laws.
• Consider seeking legal advice if disputes are denied.