Wyoming § 34.1-4-214 Right of charge-back or refund; liability of
collecting bank; return of item

Wyoming Statutes

§ 34.1-4-214 — Right of charge-back or refund; liability of collecting bank; return of item

Wyoming § 34.1-4-214

Title 34.1Uniform Commercial Code

Art. 4BANK DEPOSITS AND COLLECTIONS

This text of Wyoming § 34.1-4-214 (Right of charge-back or refund; liability of collecting bank; return of item) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 34.1-4-214 (2026).

Text

(a)If a collecting bank has made provisional settlement with its customer for an item and fails by reason of dishonor, suspension of payments by a bank, or otherwise to receive a settlement for the item which is or becomes final, the bank may revoke the settlement given by it, charge-back the amount of any credit given for the item to its customer's account, or obtain refund from its customer, whether or not it is able to return the item, if by its midnight deadline or within a longer reasonable time after it learns the facts it returns the item or sends notification of the facts. If the return or notice is delayed beyond the bank's midnight deadline or a longer reasonable time after it learns the facts, the bank may revoke the settlement, charge-back the credit, or obtain refund from its

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(a) If a collecting bank has made provisional settlement
with its customer for an item and fails by reason of dishonor,
suspension of payments by a bank, or otherwise to receive a
settlement for the item which is or becomes final, the bank may
revoke the settlement given by it, charge-back the amount of any
credit given for the item to its customer's account, or obtain
refund from its customer, whether or not it is able to return
the item, if by its midnight deadline or within a longer
reasonable time after it learns the facts it returns the item or
sends notification of the facts. If the return or notice is
delayed beyond the bank's midnight deadline or a longer
reasonable time after it learns the facts, the bank may revoke
the settlement, charge-back the credit, or obtain refund from
its customer, but it is liable for any loss resulting from the
delay. These rights to revoke, charge-back, and obtain refund
terminate if and when a settlement for the item received by the
bank is or becomes final.
(b) A collecting bank returns an item when it is sent or
delivered to the bank's customer or transferor or pursuant to
its instructions.
(c) A depositary bank that is also the payor may
charge-back the amount of an item to its customer's account or
obtain refund in accordance with the section governing return of
an item received by a payor bank for credit on its books
(section 34.1-4-301).
(d) The right to charge-back is not affected by:
(i) Previous use of a credit given for the item; or
(ii) Failure by any bank to exercise ordinary care
with respect to the item, but a bank so failing remains liable.
(e) A failure to charge-back or claim refund does not
affect other rights of the bank against the customer or any
other party.
(f) If credit is given in dollars as the equivalent of the
value of an item payable in foreign money, the dollar amount of
any charge-back or refund must be calculated on the basis of the
bank-offered spot rate for the foreign money prevailing on the
day when the person entitled to the charge-back or refund learns
that it will not receive payment in ordinary course.