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Question: Hi, It's been nearly two months since I opened a new money market account at a local bank. How do I get the bank to pay me the interest rate they promised? Thanks

Answer: Banks are regulated by Federal banking laws.  When you opened the account, you would have received documents that spelled out the terms of your agreement with the bank.  Take those documents to the bank and meet to discuss the issue with one of the personal bankers.  The bank representative should be able to answer your questions and correct any mistakes the bank may have made regarding the interest rate.  If you cannot resolve the issue with the bank, you will need to decide if it is worth your time and money to consult a lawyer about the problem.

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QUESTIONS

  • Hi, It's been nearly two months since I opened a new money market account at a local bank. How do I get the bank to pay me the interest rate they promised? Thanks

STORIES

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