Florida Statute 670.204 - Full Text and Legal Analysis

The 2024 Florida Statutes (including 2025 Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 670
UNIFORM COMMERCIAL CODE: FUNDS TRANSFERS

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F.S. 670.204

670.204 Refund of payment and duty of customer to report with respect to unauthorized payment order.—

(1) If a receiving bank accepts a payment order issued in the name of its customer as sender which is not authorized and not effective as the order of the customer under s. 670.202 or is not enforceable, in whole or in part, against the customer under s. 670.203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund. However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the date the customer received notification from the bank that the order was accepted or that the customer’s account was debited with respect to the order. The bank is not entitled to any recovery from the customer on account of a failure by the customer to give notification as stated in this section.

(2) Reasonable time under subsection (1) may be fixed by agreement, but the obligation of a receiving bank to refund payment as stated in subsection (1) may not otherwise be varied by agreement.

History.—s. 1, ch. 91-70; s. 24, ch. 2007-134.

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Amendments to 670.204

Annotations, Discussions, Cases:

Cases Citing Statute 670.204

Total Results: 5

Roger Chavez v. Mercantil Commercebank, N.A.

701 F.3d 896, 79 U.C.C. Rep. Serv. 2d (West) 152, 2012 U.S. App. LEXIS 24358, 2012 WL 5907151

Court of Appeals for the Eleventh Circuit | Filed: Nov 27, 2012 | Docket: 391421

Cited 26 times | Published

of any unauthorized funds transfer. Fla. Stat. § 670.204. However, pursuant to § 202 the bank may shift

Anderson v. Branch Banking & Trust Co. ex rel. BankAtlantic, LLC

119 F. Supp. 3d 1328, 87 U.C.C. Rep. Serv. 2d (West) 182, 2015 U.S. Dist. LEXIS 98235, 2015 WL 4554921

District Court, S.D. Florida | Filed: Jul 28, 2015 | Docket: 64303285

Cited 7 times | Published

refund. Fla. Stat. § 670.204(1) (emphasis added). The Official Comment to § 670.204 notes that the provision

Anderson v. Branch Banking & Trust Co.

56 F. Supp. 3d 1345, 85 U.C.C. Rep. Serv. 2d (West) 83, 2014 U.S. Dist. LEXIS 154767, 2014 WL 5522478

District Court, S.D. Florida | Filed: Oct 31, 2014 | Docket: 64298098

Cited 1 times | Published

scheme and seek refuge in the common law. Section 670.204, Florida Statutes, governs unauthorized wire

Jesus Alonso Alvarez Rodriguez v. Branch Banking & Trust Company

Court of Appeals for the Eleventh Circuit | Filed: Aug 26, 2022 | Docket: 64924993

Published

determine whether the payment is “veri- fied.” Id. § 670.204(1). 6 The bank and the customer may agree beforehand

Bensman v. Citicorp Trust, N.A.

354 F. Supp. 2d 1330, 55 U.C.C. Rep. Serv. 2d (West) 956, 2005 U.S. Dist. LEXIS 5631, 2005 WL 195536

District Court, S.D. Florida | Filed: Jan 18, 2005 | Docket: 2290349

Published

fraud; 9) fraud; and 10) violation of Fla. Stat. § 670.204. On November 2, 2004, defendants filed a notice