Your Duty to Notify Bank of Error Sample Clauses

Your Duty to Notify Bank of Error. You agree to notify Bank promptly (i) of any discrepancy between your records and the periodic account statements furnished by Bank to you, or (ii) if a payment or transfer purportedly made on your behalf or charged to your account were not authorized by you, was erroneous or was executed improperly. You will be deemed to have received notice of such an occurrence when you receive actual notice or an account statement furnished in a fashion customary for that account or such other account as was charged for payment indicating (i) the purported payment order or other communication was accepted and acted upon by Bank, or (ii) your account was debited with respect to the payment or transfer, whichever occurs first. If you fail to notify Bank within 30 days after you received notice of an unauthorized or erroneous transfer, Bank will not owe you any interest on the amount in question even if Bank is otherwise liable to you in connection with the transfer or other communication or is obligated to credit you for the amount of the transfer or any portion thereof, nor will Bank be liable for any other losses resulting from your failure to give such notice with respect to a transfer shown on such periodic statement. If you fail to notify Bank of any such discrepancy within one (1) year, you will be precluded from asserting such discrepancy against Bank.

Your Duty to Notify Bank of Error. If you fail to notify us within 60 days after you receive notice (whether by paper statement or electronic statement) of an unauthorized or erroneous transfer or transaction, you will be precluded from asserting any lack of authorization or any error against us. Procedures for Error Reporting: Tell us your name and account number (if any). Describe the error or the transfer you are unsure about, and explain as clearly as possible. Tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send a written explanation within ten business days. We will determine whether an error occurred within ten days and correct any error promptly. If we need more time, we may take up to forty-five days to investigate your complaint or question. If we decide to do this, we will credit your account within ten days for the amount you think is in error so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten business days, we may not credit your account. If an error occurs within thirty days after the first deposit was made, the error involves a new account. For errors involving new accounts, or foreign-initiated transactions, we may take up to ninety days to investigate your complaint or question. For new accounts, we may take up to twenty days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.