What To Do If You Find Unauthorized Transactions On Your Account

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 by: News Canada

(NC)-If you find unauthorized transactions on your credit
card account, follow the steps below to find out whether you can be
reimbursed:

Step 1: Contact your credit card issuer immediately to report the unauthorized transactions.

Step 2: Check your credit card agreement. By law, your
agreement must contain a section that explains your maximum liability
(usually $50) in the case of lost or stolen credit cards, or the
unauthorized use of your credit card account number.

Step 3: Find out if your credit card issuer offers
"Zero-Liability" on unauthorized transactions. For example, Visa and
MasterCard cardholders are protected beyond the maximum liability found
in their credit card agreements. This is done through a public
commitment Visa and MasterCard call the "Zero-Liability Policy". If
your Visa or MasterCard is lost or stolen, or if someone uses your Visa
or MasterCard account number to make transactions you did not
authorize, you can usually be reimbursed.

This policy applies to transactions made on the
Internet, by phone or at retailers, but may exclude personal
identification number (PIN)-based transactions - for example, a cash
advance made on your card at an automated banking machine (ABM) - and
transactions made on corporate credit cards. Find out from your credit
card issuer whether they have such a policy and how it can protect you.
Note that these policies are not listed in credit card agreements,
since they are public commitments and not legal requirements.

For more consumer tips on how to choose and use the
credit card that best suits your needs visit the Financial Consumer
Agency of Canada Web site at http://www.fcac-acfc.gc.ca or call toll free 1-866-461-3222.

About the Author

News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.

News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.

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