What To Do If Your Debit Card is Lost or Stolen

What To Do If Your Debit Card is Lost or StolenHave you ever wondered what your liability would be if your debit card was lost or stolen?

According to the FTC… here’s what could happen:

If you report your lost or stolen debit card before someone uses it, you are not responsible for any unauthorized charges.

But, if you make a report within two business days after you learn your debit card was lost or stolen, you will be responsible for a maximum of $50.

And if more than two business days have past, but less than 60 days after the statement is sent to you, the maximum amount jumps to a whopping $500.

If your report is more than 60 days after the statement is sent, you will be responsible for all of the money taken from you account.

And to make matters worse, you could even be responsible for money lost from accounts that are linked to your debit card.

The main thing here to remember is to report your lost or stolen debit card right away. Don’t wait!

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