Correcting Bank Errors The Right Way

Whether the bank error is in your favor or not, it will never be a good thing.  It takes days and weeks to correct such errors in the bank account. 

Most of these mistakes take place due to technological gaps or clerical mistakes.  All banks are running on different systems, and so is the columbia bank Edison.

If you are unaware of how to correct errors, you can read them below.

Get in touch with your bank

If any recent transactions are looking strange or unaccounted for, you must immediately contact your bank. You must speak with the supervisor and get it corrected. Your bank may ask you to brief upon the whole situation with a letter.

Generally, all errors can be corrected if they are dated 1 to 3 months from the statement date. Speaking about electronic fund transfer, you may have only 60 days to report any errors. The timeframe will vary from one bank to another.

You must document everything

Right from the moment you spotted the error to get it corrected, you should document everything. Jot down the bank employees you’ve spoken to and what they replied to. The more details you have, the more seamless the process will be.

Columbia Bank
60 Raritan Center Pkwy, Edison
NJ 08837, United States
Phone: +1 732-346-1090

Try to seek compensation

The correction process is very long and burdensome. If the mistake is not in favor of your account,  the bank must reimburse you with compensation.

Since you’re not responsible for the error, the bank must develop a suitable way to correct the mistake.  Additionally, you can request your bank to cover any delay fees that have to be borne by you because of the error. 

Final words

The banking system is overcomplicated when it comes to correcting mistakes. You should be clear on your side by documenting all events. You must report the errors timely and assure the bank that the mistake will not be repeated.