How long will it take for the bank to reimburse you the money that was taken? Our account was “hacked” into and the bank does have the proof but they are not really giving us an answer as to when the money stolen will be put back into our account.
Thank you Doreen….the information is going to be very useful. The bank is the one that notified us to the hacking and they have shown us the information that they have so far. Unfortunately our bank was one of 5 in our area that were targeted recently. The information they gave us was since it is being handled by FDIC it may take up to a month before we receive reimbursement. They are waiving any overdraft fees and any other charges that may come thru. What they did tell us though was that it was hacked into by our checking card that we use. Lesson learned go back to carrying cash and no more internet purchases. 
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2 responses so far ↓
1 spring_rainbows // Sep 9, 2008
A few weeks i should imagine, the bank has to do internal bits and pieces and it takes time.
2 doreen k // Sep 9, 2008
Many, if not most, banks will immediately reimburse you on a conditional basis, meaning they will launch an investigation and if they find your claim of fraudulent transactions is not supported by the evidence, you will have to pay them back.
Unless they have a specific reason to believe you are making a false claim, they should reimburse you within two business days.
If they will not give you complete answers to your specific questions on when you will be reimbursed, you may need to file a formal complaint with your state’s division of financial institutions (or the equivalent) and possibly with a federal regulator (if they are a national bank) and your state’s attorney general’s office.
Below is information on different banking regulatory agencies:
Federal Deposit Insurance Corp. (FDIC)
Supervises state-chartered banks that are not members of Federal Reserve
http://www.fdic.gov
Division of Compliance and Consumer Affairs, 550 17th Street N.W., Washington, DC 20429
Federal Reserve System (Fed)
Supervises state-chartered banks that are members of Federal Reserve
http://www.federalreserve.gov
Division of Consumer and Community Affairs, Mail Stop 801, Federal Reserve Board, Washington, DC 20551
National Credit Union Administration (NCUA)
Supervises federally-insured credit unions
http://www.ncua.gov
Compliance Officer, NCUA, 1775 Duke St., Alexandria, VA 22314
Office of Comptroller of the Currency (OCC)
Supervises banks with “national” in name
http://www.occ.treas.gov
Customer Assistance Group
1301 McKinney St., Ste. 3710
Houston, TX 77010
Office of Thrift Supervision
Supervises Savings Banks and Savings & Loan Associations
http://www.ots.treas.gov
1700 G Street N.W., Washington, DC 20552
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