If a customer's ATM card is lost or stolen, the customer must notify the bank within ; if that is done, the customer is then liable for only the first stolen.

A) 5 Days; $50
B) 3 Days; $100
C) 2 Days; $50
D) 7 Days; $100
E) 10 Days; $500

Question

If a customer's ATM card is lost or stolen, the customer must notify the bank within ________; if that is done, the customer is then liable for only the first ________ stolen.

A) 5 Days; $50
B) 3 Days; $100
C) 2 Days; $50
D) 7 Days; $100
E) 10 Days; $500

Lalah Jones · Accepted Answer

Final Answer : C, Explanation :  Under most banking regulations, including the Electronic Fund Transfer Act in the United States, if a customer notifies the bank within two business days after learning of the loss or theft of their ATM card, the customer's liability for unauthorized transactions is limited to $50.

If a customer's ATM card is lost or stolen, the customer must notify the bank within ; if that is done, the customer is then liable for only the first stolen.

A) 5 Days; $50
B) 3 Days; $100
C) 2 Days; $50
D) 7 Days; $100
E) 10 Days; $500

Definitions

Learning Objectives

Learning Objectives

Related questions

If a customer's ATM card is lost or stolen, the customer must notify the bank within ________; if that is done, the customer is then liable for only the first ________ stolen.A) 5 Days; $50B) 3 Days; $100C) 2 Days; $50D) 7 Days; $100E) 10 Days; $500

Definitions

Learning Objectives

Learning Objectives

Related questions

If a customer's ATM card is lost or stolen, the customer must notify the bank within ; if that is done, the customer is then liable for only the first stolen.

A) 5 Days; $50
B) 3 Days; $100
C) 2 Days; $50
D) 7 Days; $100
E) 10 Days; $500