Your Liability for Unauthorized Transfers; Advisability of Prompt Reporting Clause Samples

This clause defines the account holder's responsibility for any unauthorized transactions made from their account and emphasizes the importance of quickly reporting such incidents. In practice, it typically outlines the circumstances under which the account holder may be held liable for losses resulting from unauthorized transfers, such as if they fail to notify the financial institution within a specified timeframe after discovering the issue. The core function of this clause is to encourage prompt reporting of unauthorized activity, thereby limiting the account holder's potential liability and helping to prevent further unauthorized use.
Your Liability for Unauthorized Transfers; Advisability of Prompt Reporting. An unauthorized transfer means a transfer from your Account that is initiated by another person without your authority to initiate the transfer and from which you receive no benefit. The term does not include any transfer that is initiated by a person who was furnished with your Access Credentials by you, unless you have notified us that transfers by that person are no longer authorized and we have had reasonable opportunity to act on that notification. a. Tell us AT ONCE by contacting us as provided in the "Errors or Questions" section of this Agreement if you believe your Access Credentials have been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all your money in your Account (plus your maximum overdraft or margin line of credit). If you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your Access Credentials without your permission. b. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Access Credentials, and we can prove we could have stopped someone from using your Access Credentials without your permission if you had told us, you could lose as much as $500.00. c. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was provided to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. If we determine that extenuating circumstances kept you from telling us, we may extend the time periods.
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Your Liability for Unauthorized Transfers; Advisability of Prompt Reporting. An unauthorized transfer means a transfer from your account that is initiated by another person without your authority to initiate the transfer and from which you receive no benefit. The term does not include any transfer that is initiated by a person who was furnished with the Card or your PIN by you, unless you have notified us that transfers by that person are no longer authorized and we have had reasonable opportunity to act on that notification. (a) Tell us AT ONCE if you believe your Card or PIN has been lost or stolen. Telephoning us at the number provided in this Agreement is the best way of keeping your possible losses down. You could lose all your money in your account (plus your maximum overdraft or margin line of credit). If you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your Card or PIN without your permission. (b) If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Card or PIN, and we can prove we could have stopped someone from using your Card or PIN without your permission if you had told us, you could lose as much as $500.00. (c) Also, if your statement shows transfers that you did not make, 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 you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. (d) If we determine that extenuating circumstances kept you from telling us, we may extend the timeperiods. (e) Notwithstanding subsections (a), (b), (c), and (d) above, we will extend to you the benefits of the processing network zero liability policy, if any, that is in effect at the time of any fraudulent or unauthorized use for the network responsible for processing your Card transactions, according to the terms and conditions of such policy. In the event that no zero liability policy applies, subsections (a), (b), (c), and (d), above, willapply.
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Your Liability for Unauthorized Transfers; Advisability of Prompt Reporting. An unauthorized transfer means a transfer from your Account that is initiated by another person without your authority to initiate the transfer and from which you receive no benefit. The term does not include any transfer that is initiated by a person who was furnished with your Access Credentials by you, unless you have notified us that transfers by that person are no longer authorized and we have had reasonable opportunity to act on that notification. a. Tell us AT ONCE by contacting us as provided in the "Errors or Questions" section of this Agreement if you believe your Access Credentials have been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all your money in your Account (plus your maximum overdraft or margin line of credit). If you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your Access Credentials without your permission.
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Related to Your Liability for Unauthorized Transfers; Advisability of Prompt Reporting

  • Liability for Unauthorized Transactions Protection from Unauthorized Transactions What is an Unauthorized Transaction What is not considered an Unauthorized Transaction Reporting an Unauthorized Transaction Error Resolution What is an Error

  • Your Liability for Unauthorized Transfers Immediately following your discovery of an unauthorized Payment Instruction, you shall communicate with customer care for the Service in the manner set forth in Section 6 of the General Terms above. You acknowledge and agree that time is of the essence in such situations. If you tell us within two (2) Business Days after you discover your password or other means to access your account through which you access the Service has been lost or stolen, your liability is no more than $50.00 should someone access your account without your permission. If you do not tell us within two (2) Business Days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your password or other means to access your account if you had told us, you could be liable for as much as $500.00. If your monthly financial institution statement contains payments that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we will extend the time periods specified above to a reasonable period.

  • 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.

  • Provision of Certain Information by the Adviser The Adviser will promptly notify the Sub-Adviser (1) in the event that the SEC has censured the Adviser or the Trust; placed limitations upon either of their activities, functions, or operations; suspended or revoked the Adviser’s registration as an investment adviser; or, to the knowledge of the Adviser, has commenced proceedings or an investigation that may result in any of these actions and (2) upon having a reasonable basis for believing that each Fund has ceased to qualify or might not qualify as a regulated investment company under Subchapter M of the Code.

  • Liability for Failure to Stop Payment of Preauthorized Transfers If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.