Consumer Liability for Unauthorized Transactions Clause Samples
The 'Consumer Liability for Unauthorized Transactions' clause defines the extent to which a consumer is responsible for financial losses resulting from transactions they did not authorize. Typically, this clause outlines the conditions under which a consumer must report unauthorized activity, such as lost or stolen cards, and specifies the maximum amount the consumer may be liable for depending on how quickly they notify the financial institution. By clearly allocating responsibility and setting reporting requirements, this clause protects consumers from excessive losses while encouraging prompt reporting of suspicious activity, thereby reducing the risk of ongoing fraud.
Consumer Liability for Unauthorized Transactions. Transfers
A. if you tell us within 2 business days after you learn of the loss or theft of your PIN, ATM Card or Visa® Debit Card, you can lose no more than $50 if someone used your PIN and ATM Card or Visa® Debit Card without your permission;
B. if you do NOT tell us within 2 business days after you learn of the loss or theft of your PIN, ATM and/or Visa® Debit Card, and we can prove we could have stopped someone from using your PIN, ATM and/or Visa® Debit Card without your permission if you had told us, you could lose as much as $500;
C. also, if your statement shows transfers that you did not make, including those made by ATM or Visa® Debit Card, tell us at once. If you do not tell us within 60 days after the statement was mailed or made available to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods. YOU AGREE THAT IF YOU GIVE OR MAKE AVAILABLE YOUR CARD(S) AND/OR PIN TO SOMEONE ELSE TO USE OR BORROW, YOU ARE AUTHORIZING THEM TO ACT ON YOUR BEHALF AND YOU WILL BE RESPONSIBLE FOR ANY USE OF THE CARD(S) BY THEM. If your Visa® Debit Card was used fraudulently or your Visa® Debit Card was lost or stolen and you notify us of your loss pertaining to a Visa® Debit Card transaction processed by Visa® within 60 calendar days after the statement was mailed or made available to you, you will have no loss under the Visa® Zero Liability policy. This Visa® Zero Liability policy does not apply to ATM Cards, account transfers, PIN and non-PIN based Debit Card transactions not processed by Visa®. The Visa® Zero Liability Policy requires that an Affidavit be submitted for claims of unauthorized activity. If you do not enter a PIN, transactions may be processed as either a Visa® Debit Card transaction or a transaction on the STARSM network. Merchants must provide you with a clear way of choosing to make a Visa® Debit Card transaction if they also support the STARSM network option. Please be advised that should you choose to use STARSM when making a transaction without a PIN, different terms may apply. In addition, during any Visa® sponsored reward promotions you will only be eligible for rewards accrued on transactions processed over the Visa® network. See the section titled “How to Contact Us” in this Agreement for our phone numbers and address.
Consumer Liability for Unauthorized Transactions. Tell us AT ONCE if you believe your PIN or any code used to access your Account has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within 2 business days after you learn of the loss or theft of your PIN or any code used to access your Account, you can lose no more than $50 if someone used your PIN or any code used to access your Account without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your PIN or any code used to access your Account, and we can prove we could have stopped someone from using your PIN or any code used to access your Account without your permission if you had told us, you could lose as much as $500. DRAFT Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was sent to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
Consumer Liability for Unauthorized Transactions. If you have a Personal deposit Account the procedures for handling Unauthorized Transactions, and your liability for such transactions, are set forth in Sections 5 and 7.M of your Account Agreement. You may also be eligible for the Digital Banking Guarantee if your Unauthorized Transaction meets the terms and conditions for eligibility provided in Section
Consumer Liability for Unauthorized Transactions. 1. If you are a consumer customer and use the Online Banking Service to make transfers or use BMO ▇▇▇▇▇▇ ▇▇▇▇ Pay from your Deposit Account(s), the procedures for handling unauthorized transactions, and your liability for such transactions, are set forth in Section 5 of your Deposit Account Agreement. You may also be eligible for the Online Banking Guarantee if your unauthorized transfer meets the terms and conditions for eligibility provided in Section III.E below.
2. The Online Banking Service may allow you to access one or more Loan Accounts with BMO ▇▇▇▇▇▇. With open-end Loan Accounts, you may be liable for the unauthorized use of your Loan Account. Please refer to your Loan Account Agreement for further information.
3. Please call us AT ONCE at ▇-▇▇▇-▇▇▇-▇▇▇▇ if you believe your Security Credentials have been lost or stolen. Telephoning is the best way to minimize your losses.
Consumer Liability for Unauthorized Transactions. Tell us AT ONCE if you believe your access device has been lost or stolen or if you believe that an electronic fund transfer has been made without your permission using information from your access device. Access device means a card, code, or other means of access to your account, or any combination thereof, that may be used to initiate electronic fund transfers. Telephoning is the best way of keeping your losses to a minimum. You could lose all the money in your account(s) plus, if applicable, the available balance in your overdraft protection account. If you notify us within two business days after learning of the loss or theft of the access device, your liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to us. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your access device and we can prove we could have stopped someone from using your access device without your permission, if you had told us, you could lose as much as $500. If your statement shows any electronic funds transfer you did not make or authorize, including those made by card, code or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (60) days, if we can prove that we could have stopped someone from making the transfers if you had told us in time. If a good reason (such as a long trip or hospitalization) kept you from telling us, the time periods may be extended. You are responsible for all transactions you authorize using your EFT services under this Agreement. If you permit someone else to use an EFT service or your access device you are responsible for any transactions they authorize or conduct on any of your accounts.
Consumer Liability for Unauthorized Transactions. If you have a Personal deposit Account the procedures for handling Unauthorized Transactions, and your liability for such transactions, are set forth in Sections 5 and 7.M of your Account Agreement. You may also be eligible for the Digital Banking Guarantee if your Unauthorized Transaction meets the terms and conditions for eligibility provided in Section IV.A.3 below. The Services may allow you to access one or more loan Accounts with BMO ▇▇▇▇▇▇. With line of credit Accounts, you may be liable for the unauthorized use of your loan Account. Please refer to your loan Account Agreement for further information.
Consumer Liability for Unauthorized Transactions. A. If you are a Consumer customer and use Consumer e-Banking to make transfers or use the ▇▇▇▇ Pay Services for your Deposit Account(s), the procedures for handling unauthorized transactions, your liability for such transactions, and your rights and liability with respect to the Bank’s failure or delayin making transfers or stopping payment are set forth in your Terms and Conditions.
B. Consumer e-Banking may allow you to access one or more Loan Accounts with the Bank. With open-end Loan Accounts, you may be liable for the unauthorized use of your Loan Account. Please refer to your Loan Terms and Conditions of Your Account for further information.
C. Please call us AT ONCE at ▇-▇▇▇-▇▇▇-▇▇▇▇ if you believe your Security Credentials have been lost or stolen. Telephoning is the best way to minimize your losses.
Consumer Liability for Unauthorized Transactions. 1. If you are a consumer customer and use the Online Banking Service to make transfers or use BMO ▇▇▇▇▇▇ ▇▇▇▇ Pay from your Deposit Account(s), the procedures for handling unauthorized transactions, and your liability for such transactions, are set forth in Section 5 of your Deposit Account Agreement. You may also be eligible for the Online Banking Guarantee if your unauthorized transfer meets the terms and conditions for eligibility provided in Section III.E below.
2. The Online Banking Service may allow you to access one or more Loan Accounts with BMO Harris. With open-end Loan Accounts, you may be liable for the unauthorized use of your Loan Account. Please refer to your Loan Account Agreement for further information.
3. Please call us AT ONCE at ▇-▇▇▇-▇▇▇-▇▇▇▇ if you believe your Security Credentials have been lost or stolen. Telephoning is the best way to minimize your losses.
Consumer Liability for Unauthorized Transactions. Your liability to the Credit Union will not exceed $50.00 for unauthorized use of your card that occurs prior to the time when you give notice of possible unauthorized use to the Credit Union at PeoplesChoice Credit Union, ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇, ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, and (▇▇▇) ▇▇▇-▇▇▇▇ or ▇▇▇-▇▇▇-▇▇▇▇. 4. Credit Line. If we approve your application, we will establish a self- replenishing Line of Credit for you and notify you of its amount when we issue the card. You agree not to let the account balance exceed this approved Credit Line. Each payment you make on the account will restore your Credit Line by the amount of the payment which is applied to principal. You may call us to request an increase in your Credit Line, which must be approved by our loan department. By giving you written notice our loan department may reduce your Credit Line from time to time, or with good cause, revoke your card and terminate this Agreement. Good cause includes your failure to comply with this Agreement, or our adverse reevaluation of your creditworthiness. You may also terminate this Agreement at any time, but termination by either of us does not affect your obligation to pay the account balance. The cards remain our property and you must recover and surrender to us all cards upon our request and upon termination of this Agreement.
Consumer Liability for Unauthorized Transactions. Notify us AT ONCE if you believe your Login ID or Password has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning us is the best way of keeping your potential losses down. If we are notified within two (2) business days after you learn of Error Resolution: In Case of Errors or Ǫuestions about your Electronic Transfers, or you think your statement or receipt is wrong, or you need more information about a transfer listed on your statement/receipt, call us at ▇▇▇-▇▇▇-▇▇▇▇ or write to us at the address printed on your account statement as soon as possible. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem/error occurred.