Suppose that someone stole your ATM card and withdrew $1,200 from your checking account. How much money could you lose according to federal legislation if you reported the stolen card to the bank:

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kitykay8410 kitykay8410

14-06-2022
Business

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Suppose that someone stole your ATM card and withdrew $1,200 from your checking account. How much money could you lose according to federal legislation if you reported the stolen card to the bank:

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chilljain33 chilljain33 · Answer 1 · 2022-06-28T09:16:38+02:00

If someone reports the withdrawal of $1200 from his or her stolen ATM card to the bank within 24 hours, then according to the federal legislation, zero loss will be borne by the customer.

What are the advantages of reporting a stolen ATM card?

The advantages of reporting a stolen ATM card to the issuer bank are such that in case any withdrawals are made from such card, then in such the federal legislation provides protection to the customer with zero loss of money.

Hence, the significance of reporting a stolen ATM card is aforementioned.

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