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Old May 17th, 2006, 12:11 PM
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Irish Shark Irish Shark is offline
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Under federal ATM debit card law, Regulation E, you may be held liable for unauthorized transactions in 3 tiers:

I) $50 IF YOU NOTIFY THE BANK WITHIN 2 DAYS OF FINDING OUT YOUR CARD IS LOST OR STOLEN;

II) UP TO $500 IF YOU NOTIFY YOUR BANK AFTER 2 DAYS OF LEARNING OF THE LOSS OR THEFT;

III) POTENTIALLY, UNLIMITED LIABILITY FOR ALL UNAUTHORIZED TRANSACTIONS THAT OCCUR AFTER 60 DAYS FROM WHEN YOU RECEIVE YOUR STATEMENT CONTAINING THE UNAUTHORIZED TRANSACTIONS IF YOU FAIL TO NOTIFY YOUR BANK WITHIN 60 DAYS OF RECEIVING YOUR BANK STATEMENT.

http://www.ftc.gov/bcp/conline/pubs/credit/atmcard.htm
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