Re: [MLUG - DISCUSSION] Off topic - Check cashing cards

[Michael Procter <EMAIL:PROTECTED>]

On Thu, Aug 01, 2002 at 01:34:28PM -0500, Stephen Montgomery-Smith wrote:
> My wife wants to get a check cashing card (debit card), but I heard that 
> it has less legal protections than a credit card.  Can any of you guys 
> tell me anything about this?
> 
> 

Try this:

http://www.ftc.gov/bcp/conline/pubs/credit/atmcard.htm

"ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability
under federal law for unauthorized use of your ATM or debit card depends
on how quickly you report the loss. If you report an ATM or debit card
missing before it's used without your permission, the EFTA says the card
issuer cannot hold you responsible for any unauthorized transfers. If
unauthorized use occurs before you report it, your liability under
federal law depends on how quickly you report the loss.

For example, if you report the loss within two business days after you
realize your card is missing, you will not be responsible for more than
$50 for unauthorized use. However, if you don't report the loss within
two business days after you discover the loss, you could lose up to $500
because of an unauthorized transfer."

-- 
Michael Procter
EMAIL:PROTECTED
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