We opened a business account at RBFCU for our pasture raised chicken business in 1/20. Recently, we had a number of fraudulent transactions. We reported the transactions as soon as our accountant made us aware of them. However, since the transactions were not reported within 24 hours and no fraudulent transaction have been attempted since the card was closed (the card was closed when we reported the transactions), they will not be investigating the charges nor refunding the amounts. Our accountant didn't flag the transactions for us to review within 24 hours. Just because there haven't been any further attempts at fraudulent charges doesn't mean the previous fraudulent charges aren't valid. The transactions are clearly fraudulent. Any review of the merchants and attempts to contact them would make it abundantly clear. But due to RBFCU's policy, no review of the transactions nor the merchants will occur because the transactions were not reported within 24 hours and no further attempts at fraudulent transactions have occurred since the card was closed. Their own internal policies ensure that we will not be reimbursed for clearly fraudulent transactions. Do not bank with RBFCU. If you bank with them, you are at serious risk of paying fraudulent transactions. Especially if they are not reported within 24 hours. It seem to me their internal policies are structured to avoid reimbursing legitimate fraudulent transactions.
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