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There's a ton of information about liability related to fraudulent debit and credit card charges, and even a little about fraudulent checks, but I'm having trouble finding similar information about account and routing numbers.

Under United States federal law, what liability, if any, would I have as a US citizen? Do most US banks offer even more protection than required by law?

Example:

Suppose I give my bank account and routing number to an apartment complex for their rental application. (Seems excessive....) What if they turn out not to be? What if they turn around and write fraudulent checks or electronic wire transfers (or similar) and get money from my account? What am I liable for, if anything?

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jvriesem
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1 Answers1

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The simple answer is that you have to read the terms and conditions when you sign up for a checking account at the bank. The process of fraud investigation varies from bank to bank.

Ultimately most banks will refund the money if you are not deemed negligent. Some banks offer quick reimbursement during fraud claims, but many will not refund the money until the investigation is complete (which can take several weeks).

Checking accounts are terrible security problems. If you're looking for ways to avoid a hassle, stop writing checks and using ATM/Debit cards. If you must send checks to pay bills, use the bill-pay system that is now common with most banks (they use a service to send checks on your behalf and don't even charge you for postage unless you ask for expedited processing).

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