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It's 60 days (or 2 days, if you are a business) from the date you receive the statement with the fraudulent transaction, not from the date the transaction occur
by Turing_Machine 4y ago
It's 60 days (or 2 days, if you are a business) from the date you receive the statement with the fraudulent transaction, not from the date the transaction occurs.
Within that time, the bank(s) are required to reverse the transaction, no questions asked.
I believe you can even get your money back at a later time, but if you don't make the deadline there are more hoops to jump through.
- wiredfool 4y agoI'm pretty sure that it's 60 days from origination (+ a few days for potential holidays and weekends, like if it hits on the 23rd of December as a Saturday and the 24th and 25th are holidays), but it's been a few years and I don't have my NACHA books any more. But that's certainly not hard and fast, I think I've seen roughly twice that time frame for extraordinary cases.
- Turing_Machine 4y agoStripe's FAQ says that it's 60 days from when you receive the statement. https://stripe.com/legal/ACH https://stripe.com/legal/ACH
- wiredfool 4y agoThey do, but they also don't mention dishonored returns. My source was the NACHA rules, which I was coding to at the time. Point stands though, it's a long time.