If you spot a bank-account transfer you did not make or authorize, contact your bank or credit union promptly through a known official channel and identify the specific transaction as unauthorized. Save a record of your notice. In the United States, Regulation E sets investigation and liability rules for many consumer electronic fund transfers, but deadlines differ depending on whether an access device was lost or stolen and when the transfer appeared on a statement.
What to do first
- Contact the bank promptly. Use the number on your card or the bank’s official app or website, or another contact method the institution provides. Tell it plainly that the specific transfer was not made or authorized by you. Give the date and amount if known.
- Ask how to secure the affected card or account. Follow the bank’s instructions for blocking or replacing a card, changing credentials, or taking other account-protection steps.
- Ask how to submit an error notice and whether written confirmation is needed. Regulation E recognizes notice given through reasonable steps in person, by phone, or in writing. If you report orally, the bank may in specified circumstances request written confirmation within 10 business days.
- Keep a record. Note when and how you contacted the bank, the representative or department if available, what you reported, any case number, and any requested follow-up. Save statements, transaction details, and bank messages.
For the notice to be effective, take reasonable steps to provide the pertinent information; the rule does not require that a particular employee already have received it. A clear, prompt report helps establish what you told the institution and when.
Which reporting deadline applies?
There are two separate timing rules that can matter. One concerns a lost or stolen access device, such as a debit card; the other concerns an unauthorized transfer shown on a periodic statement. Do not treat either as a universal deadline for every disputed transaction or assume that meeting a deadline guarantees a particular refund.
| Situation | Timing under Regulation E | Potential effect |
|---|---|---|
| Lost or stolen access device | Report within two business days after learning of the loss or theft. | Liability for unauthorized transfers before notice is generally limited to the lesser of $50 or the amount transferred before notice, subject to the rule’s conditions. |
| Notice after the two-business-day period for a lost or stolen device | Report as soon as possible; the later-notice tier may apply. | Potential liability is generally capped at $500 for qualifying transfers, subject to the rule’s conditions. |
| Unauthorized transfer shown on a periodic statement | Notify the institution within 60 days after it sends the statement showing the transfer. | Timely notice avoids potential liability for qualifying unauthorized transfers occurring after the 60-day period. If notice is late, later transfers before notice may create liability; access-device rules can also affect earlier transfers. |
These figures and time limits reflect the CFPB’s 2026 consumer guidance and Regulation E, 12 C.F.R. § 1005.6. The 60-day period is measured from when the institution sends the statement that shows the unauthorized transfer. The two-business-day rule is measured from when you learn that the access device was lost or stolen. The applicable facts and rule conditions determine liability; the deadlines are not interchangeable.
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Regulation E requires a reasonable extension when an extenuating circumstance, such as extended travel or hospitalization, caused the delay.
What happens after you report it?
For a covered EFT error notice, the institution generally must investigate promptly and complete its initial investigation within 10 business days. The CFPB’s consumer guidance notes a 20-business-day initial period for an account that has been open for less than 30 days.
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If the institution needs longer than the applicable initial period, it generally must provisionally credit the amount in dispute within that period, notify you of the credit, and let you use the funds while the investigation continues. Provisional credit is temporary; it is not a final determination that fraud occurred. Exceptions apply, including specified circumstances where the institution requested written confirmation after an oral notice and did not receive it within 10 business days.
| Investigation or correction step | General period | When it applies |
|---|---|---|
| Initial investigation | 10 business days | Ordinary covered EFT error notices; a 20-business-day initial period is noted for accounts open less than 30 days in CFPB consumer guidance. |
| Extended investigation | Usually up to 45 days | When the institution meets the requirements to continue investigating, including generally providing provisional credit during the investigation. |
| Specified extended investigation | Up to 90 days | Certain cases, including transfers initiated outside a state, point-of-sale debit-card transactions, or transfers within 30 days after the first deposit to the account. |
| Correct an error after determining one occurred | One business day | The institution must correct the error after making that determination. |
| Report findings after completing the investigation | Three business days | The institution must report its findings after the investigation is complete. |
These investigation periods and correction deadlines are described in the CFPB’s 2026 consumer guidance and Regulation E, 12 C.F.R. § 1005.11. The applicable period depends on the transaction and account circumstances.
Can the bank require a police report?
A police report is not a prerequisite to starting a Regulation E investigation of an EFT error. CFPB compliance guidance says a financial institution may not delay initiating or completing its investigation while waiting for a police report or other requested consumer documentation. You may still choose to make a police report if appropriate for your situation, but do not wait for one before notifying the bank.
A separate written-confirmation rule can apply after oral notice: in specified circumstances, the bank may request written confirmation within 10 business days. Ask the bank how to provide it and meet the stated deadline.
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What counts as an unauthorized transfer?
Under Regulation E, an unauthorized EFT is generally one initiated by someone other than the consumer, without actual authority, and from which the consumer receives no benefit. CFPB examples include a fraudster using credentials stolen through hacking and a transfer made after credentials were obtained through fraudulent inducement. Whether a particular transfer meets the definition depends on its facts; a transaction you do not recognize is a reason to report it, not by itself a final legal determination.
This article addresses U.S. consumer electronic fund transfers covered by the Electronic Fund Transfer Act and Regulation E, including debit-card and certain account-to-account activity. Do not assume the same rules apply to credit-card billing disputes, checks, business accounts, every remittance, or accounts outside the United States.
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If the bank denies your claim
Ask promptly for the information the institution relied on to reach its decision. CFPB consumer guidance says you can request that information and the bank must send it promptly. If the institution provisionally credited the disputed amount and later concludes no error occurred, it must give written notice before removing that credit.
Review the bank’s explanation against the transaction, your notice date, and any written-confirmation request. If you remain concerned about how the bank handled the dispute, you can consider submitting a complaint to the CFPB. Keep copies of your notice, case number, statements, correspondence, and the bank’s final explanation together.
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