My Bank Won’t Make a Transfer I Ordered
The Electronic Funds Transfers Act provides that if you order a transfer of funds, it must make that transfer in accordance with your request. That is, a bank must let you use your money that you have in your account. There are limited reasons why a bank can stop you from making a transfer and using your money:
- The account does not have sufficient funds or the transfer would exceed a certain established credit limit
- The account is subject to a garnishment or other legal encumbrance
- In the case of withdrawing from an ATM, if the machine itself does not possess the cash.
Therefore, if you request a transfer, a bill payment, or a withdrawal from an ATM, and you account has the money, the transfer must be made. You are entitled to use your money and only a legal encumbrance (for example, a garnishment from a judgment) can prevent it.