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    What To Do If They're Lost or Stolen: For ATM Cards

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    Flaviub23
    The document provides information on what to do if credit or ATM cards are lost or stolen. It advises to promptly report any lost or stolen cards to the issuing companies to limit financial liability. For credit cards, reporting before use limits liability to $50 per card, while reporting ATM card losses within two days limits liability to $50. The document also offers tips to protect cards such as keeping PINs confidential and signing up for card registration services.

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    © All Rights Reserved
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    What To Do If They're Lost or Stolen: For ATM Cards

    Uploaded by

    Flaviub23
    327 views2 pages
    The document provides information on what to do if credit or ATM cards are lost or stolen. It advises to promptly report any lost or stolen cards to the issuing companies to limit financial liability. For credit cards, reporting before use limits liability to $50 per card, while reporting ATM card losses within two days limits liability to $50. The document also offers tips to protect cards such as keeping PINs confidential and signing up for card registration services.

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    Cr Atm Cards

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    Cr Atm Cards

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    The document provides information on what to do if credit or ATM cards are lost or stolen. It advises to promptly report any lost or stolen cards to the issuing companies to limit financial liability. For credit cards, reporting before use limits liability to $50 per card, while reporting ATM card losses within two days limits liability to $50. The document also offers tips to protect cards such as keeping PINs confidential and signing up for card registration services.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    327 views2 pages

    What To Do If They're Lost or Stolen: For ATM Cards

    Uploaded by

    Flaviub23
    The document provides information on what to do if credit or ATM cards are lost or stolen. It advises to promptly report any lost or stolen cards to the issuing companies to limit financial liability. For credit cards, reporting before use limits liability to $50 per card, while reporting ATM card losses within two days limits liability to $50. The document also offers tips to protect cards such as keeping PINs confidential and signing up for card registration services.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    What To Do If They're Lost or Stolen

    Many people find it easy and convenient to use credit and


    ATM cards. The Fair Credit Billing Act (FCBA) and the
    Electronic Funds Transfer Act (EFTA) offer procedures for
    you and businesses to use if your cards are lost or stolen.
    Limiting Your Financial Loss
    Report the loss or theft of your credit and ATMcards 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. If you report the loss before the 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 themmissing, the most you will owe
    for unauthorized charges is $50 per card. This is true even if
    a thief uses your credit card at an ATMmachine to access
    your credit card account.
    However, it's not enough simply to report your credit card
    loss. After the loss, review your billing statements carefully. If
    they show any unauthorized charges, send a letter to the
    card issuer describing each questionable charge. Again, tell
    the card issuer the date your card was lost or stolen and
    when you first reported it 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.
    ATM Card Loss. If you report an ATMcard missing before
    it's used without your permission, the EFTA says the card
    issuer cannot hold you responsible for any unauthorized
    withdrawals. If unauthorized use occurs before you report it,
    the amount you can be held liable for depends upon 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 withdrawal. You risk unlimited
    loss if you fail to report an unauthorized transfer or
    withdrawal within 60 days after your bank statement 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.
    If unauthorized transactions show up on your bank
    statement, report them to the card issuer as quickly as
    possible. Once you've reported the loss of your ATMcard,
    you cannot be held liable for additional amounts, even if more
    unauthorized transactions are made.
    Protecting Your Cards
    The best protections against card fraud are to know where
    your cards are at all times and to keep themsecure. For ATM
    card protection, it's important to keep your Personal
    Identification Number (PIN) a secret. Don't use your address,
    birth date, phone or social security number. Memorize the
    number. Statistics show that in one-third of ATMcard frauds,
    cardholders wrote their PINS on their ATMcards or on slips
    of paper kept with their cards.
    The following suggestions may help you protect your credit
    and ATMcard accounts.
    For Credit Cards:
    \ Be cautious about disclosing your account number over
    the phone unless you know you are dealing with a
    reputable company.

    \ Never put your account number on the outside of an
    envelope or on a postcard.
    \ Draw a line through blank spaces on charge slips above
    the total so the amount cannot be changed.
    \ Don't sign a blank charge slip.
    \ Tear up carbons and save your receipts to check
    against your monthly billing statements.
    \ Open billing statements promptly and compare them
    with your receipts. Report mistakes or discrepancies as
    soon as possible to the special address listed on your
    statement for "billing inquiries." Under the FCBA, the
    card issuer must investigate billing errors reported to
    them within 60 days of the date your statement was
    mailed to you.
    \ Keep a record in a safe place separate fromyour
    cards of your account numbers, expiration dates, and
    the telephone numbers of each card issuer so you can
    report a loss quickly.
    \ Carry only those cards that you anticipate you'll need.
    For ATM cards:
    \ Don't carry your PIN in your wallet or purse or write it on
    your ATMcard.
    \ Never write your PIN on the outside of a deposit slip, an
    envelope, or on a postcard.
    \ Take your ATMreceipt after completing a transaction.
    \ Reconcile all ATM receipts with bank statements as
    soon as possible.
    Buying a Registration Service
    For an annual fee of $10 to $35, companies will notify the
    issuers of your credit and ATMaccounts if your card is lost or
    stolen. This service allows you to make only one phone call
    to report all card losses rather than calling individual issuers.
    Most services also will request replacement cards on your
    behalf.
    Purchasing a card registration service may be convenient,
    but it's not required. The FCBA and the EFTA give you the
    right to contact your card issuers directly in the event of a
    loss or suspected unauthorized use.
    If you decide to buy a registration service, compare offers.
    Carefully read the contract to determine the company's
    obligations and your liability. For example, will the company
    reimburse you if it fails to notify card issuers promptly once
    you've called in the loss to the service? If not, you could be
    liable for unauthorized charges.
    \ \ \ \ \ \ \ \ \ \ \ \ \ \
    The Indiana Department of Financial Institutions, Division of
    Consumer Credit has many other credit related brochures
    available, such as:
    Answers to Credit Problems
    Applying for Credit
    At Home Shopping Rights
    Bankruptcy Facts
    Buried in Debt
    Car Financing Scams
    Charge Card Fraud
    Choosing A Credit Card
    Co-Signing
    Credit and Divorce
    Credit and Older Consumers
    Deep in Debt?
    Equal Credit Opportunity
    Fair Credit Reporting
    Fair Debt Collection
    Gold Cards
    Hang up on Fraud
    High Rate Mortgages
    Home Equity Credit Lines
    How to Avoid Bankruptcy
    Indiana Uniform Consumer Credit Code
    Look Before you Lease
    Mortgage Loans
    Repossession
    Reverse Mortgage Loans
    Rule of 78s What is it?
    Scoring for Credit
    Shopping for Credit
    Using Credit Cards
    Variable Rate Credit
    What is a Budget?
    What is the DFI?
    Call our toll-free number or write to the address on the cover for
    a copy of any of the brochures listed or for further consumer
    credit information. You can also access information at our web
    site on the Internet: http://www.dfi.state.in.us, then click on
    Consumer Credit.
    CREDIT
    AND
    ATM CARDS
    DEPARTMENT OF FINANCIAL INSTITUTIONS
    Consumer Credit Division
    402 West Washington Street, Room W066
    Indianapolis, Indiana 46204
    317-232-3955
    1-800-382-4880
    Web Site http://www.dfi.state.in.us

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