Cardholder’s liability for unauthorised use of card Sample Clauses

This clause defines the extent to which a cardholder is responsible for any losses resulting from the unauthorized use of their payment card. Typically, it outlines the circumstances under which the cardholder may be liable, such as if the card was lost or stolen and not promptly reported, or if the cardholder acted negligently. For example, the clause may limit liability to a certain amount unless the cardholder was grossly negligent or involved in fraud. Its core function is to allocate financial risk between the cardholder and the card issuer in cases of unauthorized transactions, providing clarity and encouraging prompt reporting of lost or stolen cards.
Cardholder’s liability for unauthorised use of card. The cardholder shall be liable for the use of a lost card, or a card in the possession of an unauthorised third party, or for other unauthorised use of the card only if the unauthorised use results from the cardholder or someone else in possession of the card: a) surrendering the card or the access code to an unauthorised person; b) neglecting to comply with the obligations regarding the use of the card or the access code provided in section 4.2 (Prohibited use of the card) and section 10.1 (Responsibility for the card); or c) neglecting to inform the card issuer, without delay, if the card or access code is lost, a third party has gained possession of the card or access code without permission, or unauthorised use of the card or access code has taken place. The cardholder’s liability for unauthorised use of the card with regards to points b) or c) above shall not exceed fifty (50) euro. This limitation shall not apply if the cardholder or someone else in possession of the card has acted with intent or gross negligence. However, the cardholder shall not be liable for unauthorised use of the card or access code if: (i) the unauthorised use of the card or access code takes place after the card issuer has received a notification of the loss of the card or access code, a third party gaining possession of the card or access code without permission, or unauthorised use of the card or access code; (ii) the card issuer has neglected its obligation to ensure that the cardholder can make the notification referred to in section (i) above at any time; (iii) a payee fails to appropriately verify that the payer using the card has the right to use the card or access code; or; (iv) if the card issuer has not required strong costumer authentication of the payer. However, sections (i)-(iv) above do not limit the cardholder’s liability if the cardholder has deliberately made a fraudulent notification or otherwise acted fraudulently. Regardless of the cardholder’s negligence, the cardholder shall be responsible for the entire amount of any unauthorised transaction if the cardholder neglects his or her obligation to immediately inform the card issuer of such unauthorised transaction in writing as set out in section 14 (Reclamations) once the cardholder became aware of the unauthorised transaction and not later than within thirteen (13) months after the transaction was invoiced.
View SourceView Similar (6)

Related to Cardholder’s liability for unauthorised use of card

  • LIABILITY FOR UNAUTHORIZED USE-LOST/STOLEN CARD NOTIFICATION You agree to notify Credit Union immediately, orally or in writing at Florida Credit Union, ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ or telephone (▇▇▇) ▇▇▇-▇▇▇▇ twenty four

  • Liability for Unauthorized Use If any Card is lost or stolen or otherwise may be used without your permission (express or implied), you must immediately notify us orally or in writing at the following phone number or address: ▇-▇▇▇-▇▇▇-▇▇▇▇ or at TIB, National Association, P.O Box 569120, Dallas, Texas 75356-9120. If unauthorized use of a Card occurs before you notify us of the loss, theft or unauthorized use, you may be liable up to a maximum amount of $50. If unauthorized use of a Credit Device occurs, you may be liable for all of the unauthorized use.

  • Use of Customer Data Verizon, Verizon Affiliates and their respective agents, may use, process and/or transfer Customer Data (including intra-group transfers and transfers to entities in countries that do not provide statutory protections for personal information) as set forth in the Privacy Policy and as necessary: (a) in connection with provisioning of Services; (b) to incorporate Customer Data into databases controlled by Verizon, Verizon Affiliates or their respective agents for the purpose of providing Services; administration; provisioning; invoicing and reconciliation; verification of Customer identity, solvency and creditworthiness; maintenance, support and product development; fraud detection and prevention; sales, revenue and customer analysis and reporting; market and customer use analysis including in the manner described in the Privacy Policy; and (c) to communicate to Customer regarding Services.

  • Unauthorised use We shall not be liable for any loss, liability or cost whatsoever arising from any unauthorised use of the Electronic Service. You shall on demand indemnify, protect and hold us harmless from and against all losses, liabilities, judgements, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using an Electronic Service by using your designated passwords, whether or not you authorised such use.

  • Malicious Use of Orphan Glue Records Registry Operator shall take action to remove orphan glue records (as defined at ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/en/committees/security/sac048.pdf) when provided with evidence in written form that such records are present in connection with malicious conduct.