On Fri, 11 May 2007 15:41:54 -0400, sechumlib
wrote:
>On 2007-05-11 13:58:58 -0400, Greg Rozelle said:
>
>> On Fri, 11 May 2007 09:30:55 -0700, Hatunen wrote:
>>
>>>
>>>> My debit card has the Cirrus and Maestro logo
>>>> I know that works also as credit card (by sign and not by PIN), but I
>>>> never will use it in similar way.
>>>
>>> Be aware of the liabilities of a debit card with a credit card
>>> logo.
>>>
>>> In the USA federal law restrits your liability for fraudulent use
>>> of your card to $50.
>
>Are you sure that's true of debit cards? I'm not. Debit cards are quite
>different from credit cards, and the same law doesn't necessarily apply.
http://www.ftc.gov/bcp/conline/pubs/credit/atmcard.shtm
He is Sort of correct. The trick it to Notify your bank fast so they
can hot card your card.
Up to two business days $50.00
Up to 60 business day $500.00
After 60 days any amount in your account.
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. I would still
report the unauthorized use right away.
Also if your debit/atm card has a Mastercard or Visa symbol this is
covered by the Mastercard or Visa zero liability policy in The United
States and some other countries.
Greg Rozelle
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