Common use of Timely notice given Clause in Contracts

Timely notice given. If the consumer notifies the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the financial institution.

Appears in 3 contracts

Sources: Eft Authorization Agreement, Electronic Funds Transfer Agreement, Ach Transfer Agreement