Banking Customer Service Essentials

01Regulation E & the 60-Day Rule

Consumers must generally report unauthorized transactions within 60 days of the statement showing them being sent, or risk unlimited liability for transfers occurring after that window. Reporting within 2 business days of discovering a lost/stolen card caps liability at $50; reporting within 2–60 days caps it at $500.

02Provisional Credit

When a customer disputes an unauthorized transaction, the bank generally must provisionally credit the account within 10 business days of receiving the dispute notice while it investigates (investigations can take up to 45 days, or 90 for certain cases). The credit is temporary and can be reversed if the transaction is later found valid.

03FDIC Deposit Insurance

Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category. A joint account with two owners can be insured up to $500,000 ($250,000 per co-owner) at the same bank.

04Fraud Red Flags & Verification Before Account Changes

Combinations like a sudden contact-info change paired with a large or urgent transfer request are a recognized fraud pattern and should trigger extra identity verification. Standard identity verification is required before any account change, regardless of how routine the request seems.

05Elder Financial Abuse Reporting

Trained employees may report suspected elder financial exploitation to internal compliance, Adult Protective Services, and/or law enforcement. Protections like the Senior Safe Act allow good-faith reporting of suspected abuse without violating customer privacy laws.