Q: Is it legal for an online bank to keep and not send you a replacement debit card and keep your money froze for 10 months
The money that they won't release to me by the way was one of mine deposited in my account to live on. I have the account number that I had give
n them and they just told me over the phone on 2/8/2023 that they no longer have that number. I really need your help. Thank you, Dianna
A:
It is not legal for a bank to keep your money frozen for an extended period of time without a valid reason or explanation. Additionally, failing to send a replacement debit card without justification is also not acceptable. You should contact the bank's customer service and request a full explanation for the delay and the missing account number, and ask for a resolution to the issue. If the bank does not provide a satisfactory response, you may want to consider seeking legal advice or filing a complaint with the appropriate regulatory agency.
Under the Electronic Fund Transfer Act (EFTA), which governs debit card transactions, banks are required to provide timely notice of any account freezes or holds, and to provide consumers with a reasonable opportunity to resolve any errors or disputes. Additionally, banks are required to provide consumers with periodic statements of account activity and must investigate any unauthorized transactions. Failure to comply with these regulations may result in liability for damages and other legal remedies.
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