Your liability for the fraudulent use of a stolen debit card can exceed the $50 limit on a stolen credit card.

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The liability for fraudulent use of a stolen debit card can be much higher than the $50 limit on a stolen credit card, depending on how quickly the theft is reported and if the PIN was used. With a credit card, federal law limits your liability to $50 for fraudulent charges, and many credit card issuers will waive even that amount. However, with a debit card, your liability can be up to $500 or more if you wait too long to report the fraud. If you fail to report the fraud within 60 days, you could be liable for the entire amount of the fraudulent charges. Additionally, if the thief used your PIN, the bank may argue that you were negligent, which could increase your liability.

Your Liability for the Fraudulent Use of a Stolen Debit