Common use of Consumer Liability Clause in Contracts

Consumer Liability. You must tell us AT ONCE if you believe that an electronic transfer has been or will be made without your permission. Telephoning is the best way of keeping your possible losses down. If your statement shows an Electronic Fund Transfer that you did not make, you must notify us AT ONCE. If you do not notify us within 60 days after the statement was mailed to you, you may not recover any money you lost after this 60-day period if we can show that we could have prevented the loss if you had notified us in time. If a good reason, such as a long trip or a hospital stay, kept you from telling us, we may extend the time period. In all cases involving unauthorized wire transfers, you must notify us within 14 days after your statement showing the unauthorized transfer was sent to you or you may not be able to recover any loss, including interest, from us. No extensions of this 14 day period are available.