Archive for the ‘Credit Card safety’ Category

Oct

ATM or Debit Card Loss

Posted by: personalsafetyebook Tags: Atm Cards, bad credit, credit cards, debit cards, Identity Theft, personal safety, personal security

ATM or Debit Card Loss or Fraudulent Transfers (EFTA)

Your liability under federal law for unauthorized use of your ATM or debit card
depends on how quickly you report the loss. If you report an ATM or debit
card missing before it’s used without your permission, the EFTA says the card
issuer cannot hold you responsible for any unauthorized transfers. If
unauthorized use occurs before you report it, your liability under federal law
depends on how quickly you report the loss.

For example, if you report the loss within two business days after you realize
your card is missing, you will not be responsible for more than $50 for
unauthorized use.

However, if you don’t report the loss within two business days after you
discover the loss, you could lose up to $500 because of an unauthorized
transfer. You also risk unlimited loss if you fail to report an unauthorized
transfer within 60 days after your bank statement containing
unauthorized use is mailed to you.

That means you could lose all the money in your bank account and the
unused portion of your line of credit established for overdrafts. However,
for unauthorized transfers involving only your debit card number
(not the loss of the card), you are liable only for transfers that occur after
60 days following the mailing of your bank statement containing the
unauthorized use and before you report the loss.

If unauthorized transfers show up on your bank statement, report them to
the card issuer as quickly as possible. Once you’ve reported the loss of your
ATM or debit card, you cannot be held liable for additional unauthorized
transfers that occur after that time.

Stay tuned for our next post. We will discuss how to protect your ATM or
Debit card and also your credit cards.

Sincerely,

Thomas “Trapper” Sherwood
www.sherwoodlocksmithing.com

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http://www.personalsafetyebook.com/PPP.html

PS…

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Oct

Lost or Stolen Credit Cards

Posted by: personalsafetyebook Tags: bad credit, credit cards, Identity Theft, personal safety, personal security, stolen credit cards

Many people find it easy and convenient to use credit cards and ATM or debit
cards. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act
(EFTA) offer procedures for you to use if your cards are lost or stolen.

Limiting Your Financial Loss

Report the loss or theft of your credit cards and your ATM or debit cards to
the card issuers as quickly as possible. Many companies have toll-free
numbers and 24-hour service to deal with such emergencies. It’s a good idea
to follow up your phone calls with a letter. Include your account number, when
you noticed your card was missing, and the date you first reported the loss.

You also may want to check your homeowner’s insurance policy to see if it
covers your liability for card thefts. If not, some insurance companies will allow
you to change your policy to include this protection.

Credit Card Loss or Fraudulent Charges (FCBA).

Your maximum liability under federal law for unauthorized use of your credit
card is $50. If you report the loss before your credit cards are used, the FCBA
says the card issuer cannot hold you responsible for any unauthorized
charges. If a thief uses your cards before you report them missing, the most
you will owe for unauthorized charges is $50 per card. Also, if the loss involves
your credit card number, but not the card itself, you have no liability for
unauthorized use.

After the loss, review your billing statements carefully. If they show any
unauthorized charges, it’s best to send a letter to the card issuer describing
each questionable charge. Again, tell the card issuer the date your card was
lost or stolen, or when you first noticed unauthorized charges, and when you
first reported the problem to them. Be sure to send the letter to the address
provided for billing errors. Do not send it with a payment or to the address
where you send your payments, unless you are directed to do so.

Next post we will cover ATM or Debit Card Loss or Fraudulent Transfers
(EFTA).

Sincerely,

Trapper
http://www.sherwoodlocksmithing.com

PS…Have you requested your FREE report on Identity Theft?
Request your copy and download it at:
http://www.personalsafetyebook.com/PPP.html

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