For debit card purchase transactions made at a point-of-sale, you will not be liable once you notify us that someone has used your card or PIN without your permission, with the following qualifications:
1) If a transaction you did not authorize appears on your statement, and you do not notify us about the transaction within 60 days from the date the statement was mailed to you, you may be liable for the entire amount.
2) If you have been grossly negligent or fraudulent in the handling of your account or card, you may be liable for the entire amount.
For all other electronic transaction types—online banking, credit card, ATM, or electronic transfer—your liability is limited to $50 as long as you notify us within two (2) business days of noticing that your card, PIN, or online banking access code has been lost or compromised, or within two (2) business days of noticing transactions on your account that were not done or authorized by you. If you do not notify us within that timeframe, you could be liable for up to $500. As with point-of-sale debit transaction, the maximum amount of time you have to report electronic transactions you did not make is 60 days from the date a statement was mailed to you that contained the transaction. If you wait more than 60 days to report a transaction you did not do, you may be liable for the entire amount.
The bottom line is that you should regularly monitor your account, and notify us immediately if you see transactions that you did not do or did not authorize, or if you believe your card, PIN, or online banking access code has been lost, stolen, or compromised. Telephoning EECU at 817-882-0800 is the best way to keep possible losses to a minimum.