Common use of Lost, Stolen or Unreceived Card Clause in Contracts

Lost, Stolen or Unreceived Card. If a Card is lost, stolen or has never been received by the Cardholder after it has been requested by the Customer or the Cardholder, or if a Program Administrator or the Cardholder suspects the Card is lost or stolen, the Program Administrator or the Cardholder must inform Royal Bank immediately. Once Royal Bank is informed that a Card has been or may have been lost, stolen or remains unreceived, Royal Bank will be able to prevent the use of the Card and Card number. The Customer is not liable to Royal Bank for any Debt resulting from the loss or theft of a Card that is incurred after the time the Program Administrator or the Cardholder informs Royal Bank about the loss or theft of the Card. Notwithstanding the above, if a Card is lost or stolen, the Customer is liable to Royal Bank for all amounts owing on the Cardholder Account, resulting from the loss or theft of the Card that is incurred before the time the Program Administrator or the Cardholder informs Royal Bank about that loss or theft through any one or more transactions on the Cardholder Account, for which the Card alone or the Card and the PIN have been used together to complete such transactions.