DEBIT CARD BASICS - Practical Money Skills

DEBIT CARDS —THE EXTRA PROTECTIONSDid you know that many of the same features andprotections offered by credit cards are also offeredwith debit cards?ZERO LIABILITY This generally means you’re notliable for unauthorized purchases made on your debitcards as long as you notify your financial institutionimmediately. Check with your financial institution tomake sure Zero Liability applies to your card.FUNDS AND FRAUD Federal law mandates thatfinancial institutions replace funds for losses resultingfrom fraudulent card use within ten business daysof notification. However, in many cases, you’ll haveaccess to funds within five business days ofnotification– sometimes sooner.THE RIGHT TO DISPUTE You may have disputeresolution options should an issue arise with a debitcard purchase. This often applies to signed purchasesonly. Check with your card issuer, and save all ofyour receipts.For more information, visitwww.practicalmoneyskills.com©2009 Visa Inc.VPMSFL09INSRTDB