How do I recover monies drafted from my bank account after asking the bank in writing to stop draft?

Full question:

I have sent a letter to Bank of Hometown to stop taking a draft of $75.00 out of my account. I told them that they no longer had authorization to withdraw from my account but they keep doing it. What can I do?

Answer:

You may need to communicate further with the bank, perhaps in person, and/or fill out the proper authorization forms that the bank would provide to you to stop the withdrawals. If you are referring to an automatic deduction for some type of bill or monthly dues to a third party, you may need to communicate with the third party to which you owe money or payments to and/or fill out the proper forms for stopping the withdrawals. If after communicating with the bank and the third party (if applicable) and/or completing the proper forms, the bank still refuses to stop the withdrawals, you may gain a cause of action against the bank. Please let us know if you would like for us to draft a form letter to meet your needs.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

To stop a draft from your bank account, first notify your bank in writing that you wish to revoke authorization for the draft. Include your account details and any relevant information about the draft. It's also advisable to follow up with your bank to confirm that the request has been processed. If the draft is for a recurring payment, contact the company involved to inform them of the cancellation.