Emergency Assistance Needed!

In August 2001, I deposited $2,000 cash into my checking account. I then wrote a check for $2,000. My bank drafted the debit as $20,000 and I, of course, received a notice of insufficient funds. I called my bank's telebanking center and advised them of this error. They informed me it would be corrected.

Several days later, I receive a copy of a credit slip signed by a teller in my bank and approved by the manager of the bank, depositing $18,000 back into my account.

2-1/2 months later, the bank catches this mistake and drafts the $18,000 back out of my account though this money was no longer there resulting in a negative balance of -16,950. (my actual funds went with it)

I have attempted for two days to get someone to return my call so that I could work this out. The telebanking supervisor has not returned about 5 voice mail messages I left. I finally reached a person in the risk management department to explain the story and what steps I have taken to correct both our mistakes. When I told her I had a credit receipt signed by my branch banking personnel, she asked me to provide her with the names. I was at my office and told her I would do so as soon as I got home. I did, in fact, call her at the number she gave me to provide her with the information. In addition, all my atm receipts from that day forward showed that money in my account for almost two months. She now will not return my calls.

I know two wrongs do not make a right. I am totally ashamed of my action in this matter and because I am a decent, upstanding citizen, am trying to rectify this situation. I have excellent credit, own a home and have never defaulted or been late on my mortgage, I've had auto loans in the past and always paid them off ahead of time. The last several years have been rough on me financially since I was involved in many job lay offs.

My question is: how liable is a bank for their errors? Is there a statute of limitations on how long they have to catch their errors?I live in the State of Texas.

Please reply ASAP!!!!!!!!

[JETX]

I offer the following suggestion.... rather than trying to determine THEIR error and possible liability..... why not just take your records and go to the bank and talk with someone IN PERSON???
This playing 'phone tag' just isn't getting the job done.

Thank you for your response but there really had not been any phone tag. No one will return my call. When I spoke with a representative from my actual bank branch, she told me there was nothing she could do and that I had to speak to Risk Management. Risk Management has not returned my calls so that I could get an address of where they are.

The woman at risk management also told me that she would post my original funds (approx. $1,400) back in on Friday so that I could have access to those funds. The same has not been done and so, to add insult to injury, I had a bill due on Saturday of $1,048 that I was going to wire transfer the funds via Western Union and now that has not taken place as a result of the bank not posting my funds back in.

All I really want to know is what my rights are, if any? Clearly the bank has made two errors here and I certainly made a huge one myself.

I have always had excellent credit and am extremely concerned that their two stupid mistakes and my one is really going to hurt me. I feel HORRIBLE and WORTHLESS!

Thank you.

[JETX]

Okay, lets try this one more time.....
Many, many of the problems on this forum could be resolved by having the author stop doing things the 'easy' way and to start handling these problems as they should... in person or, if not possible, in writing.

You complain that you have called them, and they are not returning your call. Have you taken your paperwork and made a personal visit??? If not possible, have you FAX'd them a letter with your complaint and your expected results??

It is very common in this 'commercial incompentency' for clerks or staff to get distracted or just to plain ignore complaints and comments. Especially when they are just an anonymous voice on the phone (and most callers don't even note the name or extension that they are talking to). However, this is MUCH harder to ignore if you have taken the time to formalize the problem and to document who and what (and let them know you are doing it).

So, as suggested, GO TO THEM and get this resolved. Either that or FAX them.

I took your "advice" and went to my bank on Monday. I met with the Branch Manager and assistant manager. I showed them all the receipts - credit one from bank as well as ATM receipts showing cash balance for two months. They said not a word and asked me what I wanted them to do. I advised them I applied for a loan to make restitution. I again asked if they could release my actual funds so that I could pay a bill (now past due) and they advised if was not something they could do - only risk management could which I should add, risk management told me earlier that day that it was not fraud therefore, they had nothing to do with it. A little game of pass the buck here?

My loan funded yesterday and I believe they were shocked that I was able to secure financing so quickly.

I asked them if they now could assist and wipe out the $200 in overdraft fees and they are not willing to.

I am not finished with these people. I first wanted to get my account back in order but now if you can please tell me:

1) Is there any liability on their part for their errors?
2) I am seeking an attorney to bring a suit - do I have any basis?

Thank you.

[JETX]

Part of the problem at this late a date is that all the verbal promises by them weren't met and since verbal, there is no way to now go back and present your case.

I find it somewhat incredible that they seem to be totally oblivious to the facts that you present. If I might, I offer one more possible solution.
Write a letter detailing the chronological history of this matter, with dates, names and details. Then, send it to the bank CEO by certified mail, with a copy to your state banking regulator. Note as such in your letter. The problem here is that there are several bank regulators out there and you will need to find out which regulator to send to. For example, if your bank is a state bank, the state regulates it. But if a National bank (N.A.), then it is under federal regulation (there may in fact be other regulators that I don't know, so this may be the hardest part). In your letter, tell them that you DEMAND a release of your funds.

And, in the meantime, I would move my money to another 'more friendly' bank. Personally, I haven't banked at a 'regular' bank in over 25 years. I am a BIG fan of Credit Unions!!