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ATM CARD PROTECTIONConsumers are protected against lost or stolen ATMcards provided they notify their bank of the loss or theftwithin certain time limits. What is your liability for theunauthorized use of your ATM card when you notifythe bank two business days after its theft? threedays afterward?Bad Check orBad Practice?Xin works at The PlaceUpstairs as a salesclerk. She is paid twicea month. Frequently shefinds that she runs outof money before hernext paycheck.Xin has learned thatbecause her paycheckis deposited directly toher checking account,she can write a checktwo or three daysahead of payday. Thecheck doesn’t clear forthree days. Recently, afriend showed her howto fold a check so thatit must be processedmanually, making ittake even longer toclear. Are these practicesethical? Why or whynot?teller machine (ATM) 24 hours a day to make bank deposits andwithdrawals.A debit card (also called a check card or cash card) is used to electronicallysubtract money from your bank account to pay for goods orservices. You insert your debit card into the ATM and enter your secretpersonal identification number (PIN) to withdraw cash, make deposits,or transfer funds between accounts. You can also use your debit card tobuy goods at many retail stores. See Figure 24.6 for tips on managingyour EFT card wisely.Chapter 24: Writing Checks 533