Visa’s Zero Liability Policy Clause Samples

Visa’s Zero Liability Policy is a consumer protection clause that ensures cardholders are not held responsible for unauthorized transactions made with their Visa cards. In practice, if a card is lost, stolen, or used fraudulently, the cardholder can report the incident to their bank, and, provided they have exercised reasonable care and promptly notified the issuer, they will not be liable for the resulting charges. This policy is designed to protect consumers from financial loss due to fraud, thereby increasing trust and confidence in using Visa cards for everyday transactions.
POPULAR SAMPLE Copied 1 times
Visa’s Zero Liability Policy. To the extent not covered by paragraph 18, Visa’s Zero Liability Policy has been devised to provide you with protection against unauthorized signature-based Visa Business Check Card transactions (PIN transactions are not covered under Visa’s Zero Liability Policy) processed through the Visa network including Internet and telephone purchases. If you suspect that your Visa Business Check Card or card number has been lost or stolen, you may not be responsible for any unauthorized signature-based purchases if you report the theft promptly. (a) Upon oral notification from you of unauthorized Visa transactions, Bank will limit your liability for those transactions to zero. Bank requires such notification to be received within 30 calendar days of the mailing date of the first statement showing any unauthorized Visa transactions. In evaluating your claim, Bank will consider whether gross negligence on your part has contributed to the transactions in question. Bank may increase this limit if, based on available evidence, it is reasonably determined that you were grossly negligent or acted fraudulently in the handling of the card or account. (b) Bank will provide you with provisional credit for unauthorized signature-based Visa transactions within five business days from receipt of notification. Additionally, Bank may require written confirmation of the unauthorized Visa transaction(s) before providing provisional credit. (c) Bank defines an “unauthorized transaction” to exclude either or both of the following: 1) Any transaction by; (a) a business co-owner; (b) a cardholder; (c) a person authorized by a cardholder; or (d) any other person with an interest in or authority to transact business on the account. 2) Any transaction by a cardholder that exceeds the authority given by the Visa Business Check Card account owner. (d) If you believe that your Card, Card account number, and/or its associated PIN have been lost or stolen, you agree to notify us immediately. Telephoning us at ▇-▇▇▇-▇▇▇-▇▇▇▇ or the telephone number found on your Account statement or on the card carrier, which accompanied the Card, is the best way of initially notifying us.
View SourceView Similar (11)
Visa’s Zero Liability Policy. Depending on how a transaction is effected, Visa’s Zero Liability policy may apply. Visa’s Zero Liability Policy does not apply to certain commercial cards and anonymous prepaid card transactions or transactions not processed by Visa. Additional details and other conditions relating to Visa Zero Liability Policy may be found in the Visa Rules. If a transaction is unauthorized and meets the requirements of Visa’s Zero Liability Policy, and Customer properly follows the requirements of the Visa Zero Liability Policy and this Agreement, Customer will not be liable for the unauthorized transaction. Pursuant to the terms of the Zero Liability Policy, use of the Card Account or a Card is not considered “unauthorized” if effected by a Cardholder who has actual, implied or apparent authority for such use, or Customer or Cardholder receives a benefit from the transaction.
View SourceView Similar (4)
Visa’s Zero Liability Policy. To the extent not covered in elsewhere in this agreement, Visa’s Liability Policy provides you with protection against unauthorized signature-based Visa Debit Card transactions (PIN transactions are not covered under Visa’s Liability Policy) processed through the Visa network, including Internet and telephone purchases. If you suspect that your Visa Debit Card or Card number has been lost or stolen, you may not be responsible for any unauthorized signature-based purchases if you report the theft promptly. 13.1: Upon oral notification from you of unauthorized Visa transactions, the Bank will limit your liability for those transactions to zero. The Bank requires such notification to be received within 30 calendar days of the mailing date of the first statement showing any unauthorized Visa transactions. In evaluating your claim, the Bank will consider whether gross negligence on your part has contributed to the transactions in question. The Bank may increase this limit if, based on available evidence, it is reasonably determined that you were grossly negligent or acted fraudulently in the handling of the Card or Account. 13.2: The Bank will provide you with provisional credit for unauthorized signature based Visa transactions within five business days from receipt of notification. Additionally, the Bank may require written confirmation of the unauthorized Visa transaction(s) before providing provisional credit. 13.3: The Bank defines an “unauthorized transaction” to exclude either one or both of the following: 13.4: If you believe that your Visa Debit Card, and/or Card account number has been lost or stolen, you agree to notify the Bank immediately by calling ▇-▇▇▇-▇▇▇-▇▇▇▇ or writing the Bank at Zions Bancorporation, N.A., P.O. Box 25787, Salt Lake City, UT 84125.
View SourceView Similar (2)
Visa’s Zero Liability Policy. In addition to the limitations on liability described above, you will not be liable for unauthorized use that occurs after you notify us of the loss, theft or unauthorized use of your Card, Access Code(s), or PIN. You also agree to cooperate completely with us in attempts to recover funds from unauthorized users and to assist in their prosecution. We may issue replacement Card(s), Access Code(s), and PIN(s), but only after you have provided such proof and security or indemnification as we may require. In addition, you acknowledge that we may have to deactivate your Card(s) and/or Card Account to prevent future losses. If you share your Card(s), Access Code(s), or PIN with another person, use of your Card Account by that person may be considered as authorized. If you authorize another person to use your Card, Access Code(s), or PIN, you agree that you will be liable for all transactions arising from use of the Card, Access Code(s), or PIN by such person except as otherwise set forth in this Agreement. In all cases, our liability for an unauthorized transaction is limited to reimbursing you for the face amount of the unauthorized transaction and any corresponding fees, except as otherwise required by applicable law. A transaction is unauthorized if it is not initiated by you, you did not give permission to make the transaction and you do not benefit from the transaction in any way. Visa’s Zero Liability policy covers U.S.–issued cards only and does not apply to ATM transactions outside the Visa and PLUS networks, PIN transactions not processed by Visa, or certain commercial card
View Source
Visa’s Zero Liability Policy. In some circumstances, you will not be liable for unauthorized use that occurs after you notify us of the loss, theft or unauthorized use of your Card, Access Code(s), or PIN. You also agree to cooperate completely with us in attempts to recover funds from unauthorized users and to assist in their prosecution. We may issue replacement Card(s), Access Code(s), and PIN(s), but only after you have provided such proof and security or indemnification as we may require. In addition, you acknowledge that we may have to deactivate your Card(s) and/or Card Account to prevent future losses. If you share your Card(s), Access Code(s), or PIN with another person, use of your Card Account by that person may be considered as authorized. If you authorize another person to use your Card, Access Code(s), or PIN, you agree that you will be liable for all transactions arising from use of the Card, Access Code(s), or PIN by such person except as otherwise set forth in this Agreement. In all cases, our liability for an unauthorized transaction is limited to reimbursing you for the face amount of the unauthorized transaction and any corresponding fees, except as otherwise required by applicable law. A transaction is unauthorized if it is not initiated by you, you did not give permission to make the transaction and you do not benefit from the transaction in any way. Visa’s Zero Liability policy covers U.S.–issued cards only and does not apply to ATM transactions outside the Visa and PLUS networks, PIN transactions not processed by Visa, anonymous prepaid card transactions or certain commercial card transactions. We must be notified promptly of any unauthorized use.
View Source

Related to Visa’s Zero Liability Policy

  • Excess/Umbrella Liability Policies Required insurance coverage limits may be provided through a combination of primary and excess/umbrella liability policies. If coverage limits are provided through excess/umbrella liability policies, then a Schedule of underlying insurance listing policy information for all underlying insurance policies (insurer, policy number, policy term, coverage and limits of insurance), including proof that the excess/umbrella insurance follows form must be provided after renewal and/or upon request.

  • Business Auto Liability Coverage shall be provided for all owned hired, and non-owned vehicles. Required Limit: $1,000,000 combined single limit each accident.

  • Worker's Compensation and Employer's Liability Insurance The Contractor shall have in effect during the entire life of this Agreement Workers' Compensation and Employer's Liability Insurance providing full statutory coverage. In signing this Agreement, the Contractor certifies, as required by Section 1861 of the California Labor Code, that it is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for Worker's Compensation or to undertake self-insurance in accordance with the provisions of the Code, and I will comply with such provisions before commencing the performance of the work of this Agreement.

  • Indemnification; Liability Insurance The Company and Executive shall enter into the Company’s standard form of indemnification agreement governing his conduct as an officer and director of the Company.

  • Compensation and Employers Liability Insurance a. Required if Consultant has employees as defined by the Labor Code of the State of California.