Sam did not keep track of his ATM card.One day he realized that he had not seen the card in a while,and,after looking for it,realized that it was missing.Unfortunately,over $1,000 had been fraudulently purchased using the card by the time Sam reported it missing.The first fraudulent charge was made 45 days before Sam reported to his bank that the card was missing.Which of the following is Sam liable for?

Question

Quizplus · Accepted Answer

A)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.
B)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.
C)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.
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D)?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.
E)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.
Topic: Electronic Fund Transfers

Sam Did Not Keep Track of His ATM Card