Mind those bank statements, they effect your liability for ATM & Debit accounts

Posted on May 1, 2015 in hntbh - 0 comments - 0

One of the first pieces of advice shared is to stop using your Debit Card. Most banks allow you to have an ATM card issued that is perfect for grabbing cash on the go. The reasons are many, but the most important centers of you liability for funds in these accounts.

Quite simply, if money is transferred out of your bank accounts (ATM / Debit Card #s) that money is gone, forever. There is a window of time though for you, and this is based on your bank statements. In the days of electronic statements this can become slippery (meaning when you receive a paper statement you may flip through quickly and see if anything jumps at you, but electronic statements I believe are far less reviewed).

Above is a simple table from the FTC showing the time elapsed from the release of a bank statement/notification and how much you owe. Note, at 60 days you are liable for “All the money taken from your ATM/debit card account, and possibly more…” yikes!

Update on the book – YES, it is nearly completed. The reviews have been very encouraging and I am humbled by all the time folks have helped make it great. May is the month! Stay tuned and visit www.Facebook.com/hntbh for more community news.

Best,

James

Some additional readings from Huffington Post on Debit Card Fraud, and even Time Magazine getting the news out!

About The Author

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jjd

James has been in technology and information security since 1996, and has worked at both the hardcore technical areas (installing the wires and boxes), and has spent the last decade building and leading global information security professionals. James is a published inventor (encryption privacy related patent), a regular speaker, a leader in the information security field, and a passionate father.

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