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Resolving an overdraft protection error
By Bankrate.com
Overdraft
protection serves as a refuge for many who sometimes find they
must write a check even though they don't quite have the funds to
cover it. But if your bank messes up and the overdraft protection
doesn't kick in, you face not only embarrassment but also added
financial costs.
Of course, you have to know your account inside and
out before you can dispute a bank entry. Keep your deposit receipts,
from the teller as well as the ATM, write down all transactions
in your check register and review your
monthly statement when it arrives. When you find a mistake,
let your bank know as soon as possible.
The form letter below will help you point out the problem with your overdraft protection and get it corrected. The back of your statement should list the address to which you need to send the letter.
Personalize the letter by entering your specifics
in the areas in red. You can print
out this Web page and make your changes by hand or copy the body
of the letter and paste it into a document where you can make your
changes on your PC.
If you prefer to see a .pdf version of the letter,
click
here.
Date
Name of bank
Street address
City, State, ZIP Code
Re: Overdraft protection for account number
Dear Sir or Madam:
I am a customer with bank name.
My account is held in your name and
is number enter number again here.
Upon checking my most recent statement, I discovered that my overdraft protection was not activated as it should have been.
Here give the details of the
problem. For example: On Aug. 10, 2003, I wrote a check (include
the check number here) to ABC Property Management to pay my rent.
Because my next paycheck was not until Aug. 15, I knew this check
would be short by $150. However, my overdraft protection should
have been activated to make up this shortfall. It wasn't and my
rent check bounced. In addition, I was charged a nonsufficient funds
fee for the check.
A copy of the statement with the error highlighted
is enclosed for your review. If you have documentation
of when you signed up for the overdraft protection, include it:
I'm also sending you a copy of my records indicating when I signed
up for overdraft protection and what coverage I was told to expect
from the service.
As this bank mistake caused me personal embarrassment in addition to costing me an erroneous NSF fee, I would appreciate that you look into why my overdraft protection service did not work as it should have. Also, please remove the NSF fee from my account, implement the overdraft protection agreement as it should have been for this check and note in your records that the incident was the bank's fault.
Thank you for your prompt attention to my request.
If you have any questions, please don't hesitate to call me at your
daytime telephone number. I'll also check back with you on
the status of this request and the action you have taken to rectify
this bank error.
Sincerely,
Your Signature
Your Typed Name
Your Address
City, State and ZIP Code
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Enclosures:
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copy of monthly statement |
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copy of overdraft protection
agreement
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