Released: January 18, 2006
Help Desk FAQ
Debit cards
What does “zero liability” on my debit card mean?
Many of the banks that issue debit cards voluntarily offer “zero liability” to cardholders. Both MasterCard and Visa have policies that go beyond federal guidelines so that you will not be held financially liable for fraudulent purchases on your card. Ask your bank about the kinds of debit card transactions covered under its zero liability protection policy.
Your bank or credit union must give you information about your rights and responsibilities for using your debit card, including a disclosure of any fees you have to pay.
If your bank imposes any liability on you for debit card fraud, it must give you a summary of your potential liability for unauthorized transactions as well as its policy for resolving unauthorized transactions. If you don’t have copies of these documents, ask your bank to send them to you.