Legal Question in Banking Law in Utah

Posting withdrawls and deposits

I am currently banking with Washington Mutual. I have been in an on going discrepancy with their branch. They say they have a policy or a ''right'' to post my withdrawls before my deposits. Henceforth, my account has been charged with monthly overdraft fees exceeding the amount of $200.00. I had an accountant review my bank statements and they find no reason as to why I was charged overdraft fees. My deposit amounts are well over my withdrawls. Please contact me and let me know what steps I should take to have the bank refund my money and resolve this matter.

Sincerely,

A.


Asked on 11/20/03, 7:46 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Posting withdrawls and deposits

Banking law is a function of the contracts between you and the bank, and as well as State and Federal law. First, obtain from the bank copies of each document you signed when you opened your account. Make sure the documents have your signature on them. You are not necessarily bound by "new" policies enacted after you opened your account. Read the contract and "policies" to ascertain whether you agreed to such policies at the time you created your account. If there is no language in the documents which addresses the subject, your case is then governed by Federal Banking Law statutes. This is an extensive area of law, and it will take some time to do the necessary research. After you obtain your account documents, and if you do not find any information in them, you may contact me to discuss further assistance.

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Answered on 11/21/03, 12:50 pm


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