Bill did not keep a close watch on his ATM card.He discovered,however,when he started to purchase some presents for his girlfriend that it was missing.Unfortunately,over $1,000 had been fraudulent purchased using the card by the time he reported it missing.The first fraudulent charge was made 45 days before Bill reported to his bank that the card was missing.Bill is liable for which of the following?

Question

Quizplus · Accepted Answer

If a customer's ATM card is lost or stolen, the customer must notify the bank within two days. The customer is then liable for only the first $50 stolen. If the customer does not notify the bank, the customer will then be held liable for up to $500 that is stolen.

Bill Did Not Keep a Close Watch on His ATM