Today I got a letter from Chase Bank N.A. informing me of their new Deposit agreement. Your deposit ticket mistakes will now cost you! In short they plan on stealing your money if you make an error on your deposit ticket. I have never heard of any other bank doing such a thing. The only recourse you have is to notify them within 1 year of the deposit. If you do not notify them the extra money becomes property of Chase.
Deposit records and receipts Effective March 13, 2016, replace the second paragraph with the following: If you make a deposit, we may provide a receipt, but the amount on your deposit receipt is based entirely on the deposit slip you complete. We may confirm the funds you deposit and, after review, may adjust your account for any errors including any errors on your deposit slip. We are not required to adjust your account for discrepancies of $10 or less. We may not adjust your account unless you notify us of the discrepancy within one year of the date of your account statement that shows the deposit. If you do not notify us of the error during this notice period, the deposit amount will be considered final. This means that if the actual amount deposited was less than the amount declared on the deposit receipt, the difference will become your property and if the actual amount deposited was more than the amount declared on the deposit receipt, the difference will become our property.
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Chase plans on keeping the difference if your deposit doesn’t match the amount you calculated on your deposit ticket.