Bankrate.com – As you may know, you can’t just go to your bank to get your money back if your bank refuses to honor your overdrafts or credit card bills.
Now, you might want to get in on the ground floor of your bank’s customer support and find out what other banks are doing.
Here’s what you should do.1.
Tell them you’re trying to get the money back.
Ask if they can refund your overdrawn funds by making a payment.
This is not a “good practice,” but it’s important to be clear that this will not solve the problem, according to Bankrate’s David Smith.2.
Ask to cancel overdraft.
Ask your bank if you have overdrawn any funds and then ask if they are willing to cancel your overdraws.
If they say no, ask them to stop doing this.3.
Ask for a written statement.
Ask them to write a written, detailed explanation about how the bank handled the situation.4.
Ask how long the process will take.
If it’s not as long as you thought, ask to get copies of the written statements for your records.5.
Send a letter.
When you get your statement, put it in a folder with all the other letters you received from your bank.
Keep copies of your letter so you can refer to them in the future.6.
Take your overdrowes to the IRS.
If your bank won’t honor your credit card, you should take your overdrews to the U.S. Treasury Department’s National Credit Union Administration.
There, they can investigate your overdriven funds.
If you are unable to pay your overdropes, you may be eligible for a federal refund.
You may also be able to file a claim for lost wages.7.
Call your local credit union.
Your local credit unions can be contacted through the National Credit Unions Hotline (800-927-3585).
The number to call is 800-972-6200.8.
Go to your local bank.
The best way to get to the bank is to call it directly.
If the bank doesn’t know you are trying to recover money, ask the employee to go to the nearest branch or ATM to verify that the bank knows you are a member.