How Long Do You Have to Report Unauthorized Transactions? Explained

Discover how quickly you should report unauthorized transactions to minimize liability and recover lost funds.

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Act quickly: Reporting unauthorized transactions should be done within 60 days from the date of the statement that shows the error. Prompt reporting can help minimize your liability and increase the likelihood of recovering lost funds.

FAQs & Answers

  1. What should I do if I miss the reporting deadline for unauthorized transactions? Contact your bank immediately to discuss your options, as they may still be able to assist you.
  2. How do I report an unauthorized transaction? You should contact your bank or financial institution directly, providing them with details of the unauthorized transaction.
  3. What is my liability for unauthorized transactions? Your liability depends on how quickly you report the unauthorized transaction; it can range from $0 to $50 if reported promptly.
  4. Can I dispute a charge I authorized? Yes, you can dispute a charge you authorized if you believe it was made under fraudulent circumstances or in error.

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