Examining Your Statement Clause Samples

The "Examining Your Statement" clause grants the account holder the right and responsibility to review their financial statements for accuracy and completeness. Typically, this clause outlines the process by which customers can inspect their monthly or periodic statements, identify any errors or unauthorized transactions, and notify the financial institution within a specified timeframe. Its core practical function is to ensure that discrepancies are detected and resolved promptly, thereby protecting both the customer and the institution from potential fraud or mistakes.
Examining Your Statement. You are in the best position to discover a forged, unauthorized or missing signature or endorsement; a material alteration; or a missing or diverted deposit or any other error or discrepancy relating to a check, deposit or other credit or debit entry to your account. Therefore, you should review your account statements for accuracy as soon as you receive them. Statements, including check images, will be deemed to correctly reflect all transactions posted to the account during the statement period unless you notify the Bank of an error or unauthorized transaction item or debit within 30 days after the statement date (60 days for an electronic transaction error). You may provide notice to the Bank in writing at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or by calling (▇▇▇) ▇▇▇-▇▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇. If you call to report an error or unauthorized transaction, we may require that you confirm your notification in writing. Any written notice you send to the Bank will not be effective until receipt. We are legally required to send funds from all “abandoned” accounts to the state treasurer’s office. The applicable state law under which abandonment is determined (and the state to which abandoned funds are sent) is usually the state listed in the address you have specified for the account. Typically, an account is considered abandoned when there has been no customer-initiated activity for the period of years specified in the state law and no contact by the customer during that time. Since abandonment is determined based on customer-initiated activity, actions by the Bank (such as paying interest or sending notices) do not keep an account from being deemed abandoned. We will attempt to notify you in writing at least 60 days prior to turning over the account to the state. Such notification will include instructions on how you may prevent remittance of the funds to the state. After we turn abandoned funds over to the state, we have no further liability to you for the funds. You may be able to reclaim the funds by filing an application with the appropriate state agency Unless prohibited by applicable law, we may charge an abandoned property administrative fee to your account to cover our costs of sending notices, processing the account, and remitting the funds to the state. Even if the time period for abandonment has not passed, if we consider your account to be inactive, we may stop sending statements, charge your account inactivity fees, and otherwise suspend activity on you...
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Examining Your Statement. You are in the best position to discover a forged, unauthorized or missing signature or endorsement, a material alteration, a missing or diverted deposit, or any other error or discrepancy relating to a check, deposit, or other credit or debit entry to your account. Therefore, you should review your account statements for accuracy as soon as you receive them. Statements, including check images, will be deemed to correctly reflect all transactions posted to the account during the statement period unless you notify the Bank of an error or unauthorized transaction item or debit within 30 days after the statement date. If you call to report an error or unauthorized transaction, we may require that you confirm your notification in writing. Any written notice you send to the Bank will not be effective until receipt. The Bank reserves the right to service charge any account that remains inactive for a period of 12 months.
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Examining Your Statement. You are in the best position to discover a forged, unauthorized or missing signature or endorsement; a material alteration; or a missing or diverted deposit or any other error or discrepancy relating to a check, deposit or other credit or debit entry to your account. Therefore, you should review your account statements for accuracy as soon as you receive them. Statements, including check images, will be deemed to correctly reflect all transactions posted to the account during the statement period unless you notify the Bank of an error or unauthorized transaction item or debit within 30 days after the statement date (60 days for an electronic transaction error). You may provide notice to the Bank in writing at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or by calling (▇▇▇) ▇▇▇-▇▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇. If you call to report an error or unauthorized transaction, we may require that you confirm your notification in writing. Any written notice you send to the Bank will not be effective until receipt. The Bank reserves the right to service charge any account that remains inactive for a period of 12 months. (Refer to our Fee Schedule.) Your account will be subject to service charges and fees as set forth in our Consumer Banking Fee Schedule. A then current Fee Schedule will be provided at account opening and a current schedule is available at any of our branches. You may request a copy at any time in person or by phoning the Bank. Any fees may be deducted against funds already or later on deposit, including deposits of Social Security or other benefits. Fees and service charges may change from time to time.
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Examining Your Statement. You are in the best position to discover a forged, unauthorized or missing signature or endorsement; a material alteration; or a missing or diverted deposit or any other error or discrepancy relating to a check, deposit or other credit or debit entry to your account. Therefore, you should review your account state- ments for accuracy as soon as you receive them. Statements, including check images, will be deemed to correctly reflect all transactions posted to the account during the statement period unless you notify the Bank of an error or unauthorized transaction item or debit within 30 days after the statement date (60 days for an electronic transaction error). You may pro- vide notice to the Bank in writing at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or by calling (▇▇▇) ▇▇▇-▇▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇. If you call to report an error or unauthorized transaction, we may require that you confirm your notification in writing. Any writ- ten notice you send to the Bank will not be effective until receipt. Massachusetts law requires that any account which remains inactive for a period of 3 years or longer is to be considered abandoned property, and must be turned over to the Commonwealth. We will attempt to notify you in writing at least 60 days prior to turning over the account to the state. Such notification will include instructions on how you may pre- vent remittance of the funds to the state. A fee may be charged for the processing of unclaimed property to the state. The Bank reserves the right to service charge any account that remains inactive for a period of 12 months. (Refer to our Fee Schedule.) Your account will be subject to service charges and fees as set forth in our Consumer Banking Fee Schedule. A then current Fee Schedule will be provided at account opening and a cur- rent schedule is available at any of our branches. You may request a copy at any time in person or by phoning the Bank. Any fees may be deducted against funds already or later on deposit, including deposits of Social Security or other benefits. Fees and service charges may change from time to time.
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Examining Your Statement. To ensure your Account information is accurate, we ask that you exercise reasonable promptness in reviewing your Account statements. You must notify us of any error relating to an electronic funds transfer within 60 days after we sent the FIRST statement on which the problem or error appeared. You must notify us in writing of any unauthorized signatures, altered, forged or counterfeit checks, or other unauthorized transactions, charges, or discrepancies not involving an electronic funds transfer within 30 days from the date of receipt of the statement. Your failure to do so may result in your having to bear some or all the loss that may be incurred with respect to such items contained in the statement. Consult the Terms and Conditions of Electronic Funds Transfer Services for additional information including consumer liability. It is our standard practice to provide imaged copies of your cancelled checks with your statement(s), instead of your original checks. We will destroy the original checks not less than 60 days after the statement date. We will retain copies of the checks, front and back, on electronic or other media for a period of seven years, and during this period we will have the ability to provide you with copies of cancelled checks.
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Related to Examining Your Statement

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