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#1126026 - 02/09/09 05:22 PM Business Debit Card Agmts & M/C Liability Rules
ahanna Offline
Gold Star
Joined: Aug 2008
Posts: 380
Texas
It has come to my attention that we are currently using a Business Debit Card agreement that specifically places all of the liability for unauthorized transactions on the business customer.

After talking with our card processor, I understand that Mastercard added a "modified" zero-liability clause for business customers in 2006 and we basically have to assume liability for signature based transactions, even though they are not covered by Reg E. I was told the cards cannot be issued with PIN-based capability only (which would avoid the M/C liability rules).

Does anyone have a sample contract that their business cardholders sign addressing their liability? The only one I found on BOL still shows the customer as having unlimited liability and I think we need to incorporate the M/C provisions as well.

Thanks in advance for any help/advice.
_________________________
In the end, it's all just a bunch of paper....

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eBanking / Technology
#1129134 - 02/12/09 09:01 PM Re: Business Debit Card Agmts & M/C Liability Rules ahanna
Georgia Plum
Unregistered

I am also interested in a more current agreement if anyone has one they'd share.

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