Common use of Liability for Unauthorized Transfers Clause in Contracts

Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your card and/or code has been lost or stolen or you believe a transfer has been made using the information from your check without your permission. Contacting us by phone is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your card without your permission. If you do not tell us within two business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you can lose as much as $500. Your Mastercard Debit Card offers zero liability on the following types of unauthorized transactions: signature debit and credit transactions, PIN-based transactions and ATM transactions. The zero liability limits are provided under the following conditions: you have exercised reasonable care in safeguarding your card, and you have promptly reported loss or theft to the Bank. . 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 mailed 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.