Can I sue bank if I did not receive interest payments as promised?
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Can I sue bank if I did not receive interest payments as promised?
I have a checking account with bank that was supposed to receive 0.1% interest but it did not received any interest for the past year. It admitted it had made an error converting my account to a non-interest bearing account when it tried to upgrade me. know the interest rate is low but can I sue the bank for this error, and how much can I claim for?
Asked on June 24, 2012 under General Practice, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Rather than suing the bank for the 0.1% interest that you did not receive on your deposit with it for the past year, I would ask the bank manager simply to credit you with the dollar amount of what your account would have earned.
If the bank manager refuses to do so, from what you have written it appears that you have a legal and factual basis to sue the bank in small claims court for the interest that you should have received on your account.
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