Common use of Liability for Unauthorized Electronic Fund Transfers from Your Account Clause in Contracts

Liability for Unauthorized Electronic Fund Transfers from Your Account. Tell us AT ONCE if you believe that your Credentials have been lost or stolen or that an Electronic Fund Transfer has been made from your Account without your permission. Contacting us by telephone is the best way to minimize your possible losses. If you tell us within two (2) Business Days after you learn that your Credentials have been lost or stolen or of the unauthorized transfer of funds, your liability will be no more than $50. If you DO NOT tell us within two (2) Business Days after you learn that your Credentials have been lost or stolen or that an unauthorized transfer of funds has occurred, and we can prove that we could have stopped the unauthorized transfer if you told us, you could lose as much as $500. If your statement shows Electronic Fund Transfers that you did not make, you need to notify us at once. If you do not notify us within sixty (60) days after the Account statement was sent or made available to you, you may not get back the money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had notified us in time. If a good reason (such as a long trip or a hospital stay) kept you from notifying us, we may extend the time periods.