Cardholder Liability Sample Clauses
The CARDHOLDER LIABILITY clause defines the extent to which a cardholder is responsible for unauthorized or fraudulent transactions made with their payment card. Typically, this clause outlines the circumstances under which the cardholder may be held liable, such as failing to promptly report a lost or stolen card, and may set monetary limits on liability depending on how quickly the issue is reported. Its core function is to allocate financial responsibility between the cardholder and the card issuer, thereby protecting both parties and encouraging prompt reporting of suspicious activity.
Cardholder Liability. You must notify us AT ONCE if you believe your Access Card or PIN has been lost or stolen. Telephoning is the best way of keeping your possible losses down. If you believe your Access Card or PIN has been lost or stolen or otherwise used without your permission, you could lose all the money in your account. If you tell us that a card is lost or stolen within the time frame set forth below, your liability for unauthorized transactions will be limited as set out. If you tell us within two (2) business days after you learn of the loss or theft of your Access Card or PIN, you can lose no more than $50 if someone used your Access Card or PIN without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Access Card or PIN, and we can prove we could have stopped someone from using your Access Card or PIN without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by Access Card, PIN or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
Cardholder Liability. 11.2.1 In the event the Business Client does not discharge its indebtedness to us in full, each cardholder will be jointly and severally liable, as co-principal debtor, together with the Business Client, for the amount owing in respect of the cardholder’s use of the card/s issued to the cardholder.
11.2.2 The transaction/s performed by the cardholder will reflect on the cardholder account and will be transferred to the Business Control account on account billing date. The cardholder will also be liable for interest levied on the said transaction amount/s and applicable fees/charges.
Cardholder Liability. Telephone the Credit Union AT ONCE if you believe your Card(s) has been lost or stolen, then confirm your call with a letter. If you notify us of the lost or stolen card(s) within two business days, your loss is limited to no more than $50 if someone uses your Card(s) without your permission. If you do NOT notify us within two business days after you learn of the loss or theft of your Card(s), you could lose as much as $500. Please review your account statements carefully. If they show Card(s) transactions you did not make, notify us at once. If you do not notify us within 60 days after the statement mailing date, you may not be reimbursed for the withdrawal. BUSINESS ACCOUNTS - Reg E does not apply to business. Please review the Business Accounts disclosure/brochure for more information regarding your liability with debit card fraud. ELECTRONIC FUND TRANSFERS SPECIAL VISA RULES - Your Visa Check Card is so secure that we have reduced your potential liability for unauthorized transfers accomplished with your card under certain circumstances. The following rules apply only when your Card(s) is used for point-of-sale transactions.
Cardholder Liability. In accordance with Section 909 of the Electronic Funds Transfer Act, your maximum liability for a debit card with the VISA® logo is $0, if you, report loss, theft or unauthorized use of the Card. Your account must be in good standing and you or your designated authorized signer must have exercised reasonable care in safeguarding your card, and you cannot have reported two or more unauthorized events in the past 12 months for the Zero Liability to apply. If you suspect unauthorized activity on your account, stop using your Card and contact the credit union as soon as possible.
Cardholder Liability. All persons who use any Card issued for the Account are individually and jointly responsible for any outstanding balance. If two or more persons are responsible to pay for any outstanding balance, we may refuse to release any of them from liability until a ny unexpired Card(s) outstanding under the Account have been returned to us and any outstanding balance has been paid indefeasibly in full. Even though a Card and/or your Account are revoked or t erminated, you agree that your obligations and our rights under this Agreement will remain in effect until all balances on your Account incurred before or after revocation or t ermination are paid indefeasibly in full. You may cancel your Account by notifying us in writing and returning every Card to us, cut in half (if this is a joint Account, either of you may request that the Account be closed and we will honor that request without us having any liability to either of you). You will still be responsible to pay any amount you owe us ac cording to the terms of this Agreement.
Cardholder Liability. College of Charleston is not responsible for any loss or expense caused by theft, misuse or loss of the Card. Misuse of the Card will be reported to Public Safety and/or the Office of the ▇▇▇▇ of Students and may result in disciplinary action.
Cardholder Liability. 10.2.1 In the event the Business client does not discharge its indebtedness to us in full, each cardholder, where the necessary affordability has been completed on the cardholder, will be jointly and severally liable, as co- principal debtor, together with the Business client, for the amount owing in respect of the cardholder’s use of the card(s) issued to the cardholder.
10.2.2 The transaction(s) performed by the cardholder will reflect on the cardholder account and will be transferred to the Business Control account on account billing date. The cardholder will also be liable for interest levied on the said transaction amount(s) and applicable fees/ charges.
Cardholder Liability. The University assumes no responsibility for illegitimate purchases from your account prior to your notifying the proper authorities that the card is lost or stolen. Cardholder is responsible for all charges made with the Card, even if the card or account number is lost or stolen. Therefore, it is important to notify Old Dominion University (and PNC if the debit function has been activated) immediately upon discovering loss or theft to limit potential loss of funds.
Cardholder Liability. You agree that if you give the card to someone else to use, you are authorizing that person to use the card for any purpose or any transaction and to redeem the unused value on the card. If your card is lost or stolen, please contact us immediately at ▇-▇▇▇-▇▇▇-▇▇▇▇ to keep your losses to a minimum. Cards that are reported lost/stolen to us may be either replaced or a check written for the remaining balance.
Cardholder Liability. The initial disclosure statement for a credit card agreement will disclose the cardholder's maximum liability for unauthorized use of the card.