Important Notice to Debit card holders:
Change to MasterCard Rules found in your Electronic Funds Transfer Disclosure
The new MasterCard liability rules make the following revisions effective October 17, 2014:
- The zero liability rule will now apply to all transactions conducted with a MasterCard branded card. Previously , zero liability only applied to Point-of-sale Transactions.
- A cardholder will not be liable for any unauthorized transaction, as long as 1) the cardholder has exercised reasonable care in safeguarding the card from risk of loss or theft, and, 2) upon becoming aware, promptly reporting the loss or theft to the issuer.
Previously, if the above conditions were not met your liability was limited to a maximum of $50 for transactions conducted by the unauthorized use prior to your notification to us. This maximum of $50 has been removed.