This analysis describes what Bank of America's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The provision creates a procedural requirement that allocates responsibility for transaction monitoring between the bank and customer. By establishing a fixed deadline, the clause defines the temporal scope within which the bank will investigate and reverse unauthorized charges.
The updated Deposit Agreement now explicitly discloses that disputes are subject to mandatory arbitration and class action waiver provisions, as stated prominently at the document's opening. The agreement establishes separate dispute resolution procedures for personal and business accounts and introduces new operational provisions governing account closure, jurisdiction and venue, cutoff times for legal orders, and responses to conflicting demands. The terms require that by using or maintaining your account after a change is effective, you agree to be bound by the updated provisions. You can review the complete updated agreement on bankofamerica.com or contact Bank of America directly if you wish to understand how the specific dispute resolution procedures apply to your account.
View change record →Customers must review statements and report unauthorized transactions within 60 days of statement delivery to preserve recourse for reimbursement. Failure to meet this deadline may result in the bank declining liability for the unauthorized transaction and refusing account recreditation.
Cross-platform context
See how other platforms handle Unauthorized Transaction Reporting Deadline and similar clauses.
Compare across platforms →"You must examine your statement and report any errors, unauthorized transactions, or problems within 60 days after we send the statement to you. If you do not report the error within this time, we may not be liable for the unauthorized transaction and you may lose the right to have the amount recredited to your account.Excerpt from Bank of America's Deposit Agreement
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The provision creates a procedural requirement that allocates responsibility for transaction monitoring between the bank and customer. By establishing a fixed deadline, the clause defines the temporal scope within which the bank will investigate and reverse unauthorized charges.
Customers must review statements and report unauthorized transactions within 60 days of statement delivery to preserve recourse for reimbursement. Failure to meet this deadline may result in the bank declining liability for the unauthorized transaction and refusing account recreditation.
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