Get Fresh Tips Every Week!
Don't Miss Any Personal Loans Tips. Subscribe to the Personal Loans Tip Newsletter.

View Archive

Bookmark      RSS
 

Business Solutions
Our tips are powerful.
Our writers are experts.
Our results are guaranteed.

 

Listen to our Radio Show
Hot topics for both consumers
and webmarketers
on WebmasterRadio.FM

Every Wednesday, 4PM Eastern.

 

January 12, 2007, Newsletter Issue #47: Bank Responsibilities


1

Tip of the Week

Banks are really the ones that stand to gain the most from the Check 21 Act. The ability to use substitute checks means greater processing efficiency and lower costs—which, by the way, the banks aren't required to pass on to customers. It only stands to reason, then, that Banks should be held to a higher standard of accountability.

You should have already received a notice from your bank or credit union explaining the legal status of substitute checks. A bank or credit union that uses substitute checks is also obliged to reaccredit any disputed amounts to a customer's account—up to a $2,500 maximum—within ten days of receiving written notice of the dispute from the customer. If the disputed amount exceeds $2,500, the bank has to make good on the full amount within 30 calendar days of first receiving written notice of the disputed amount.



2

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.



Learn more about our Exclusive Program we offer our clients.


 
Founded in 2000, LifeTips offers fresh tips and advice to millions of readers.
Become a Guru on a topic you're an expert in.
Become a Sponsor and keep the tips flowing and traffic going to your website!
Privacy Guaranteed.
Satisfaction Required.