Mastercard does not define a timeframe on their Zero Liability website
The two criteria to qualify for Zero Liability protections are:You have used reasonable care in protecting your card from loss or theft; and
You promptly reported loss or theft to your financial institution.
I encourage my clients to define "prompt" in their cardholder agreements. Although regulation E does not apply to small businesses, defining prompt as "two business days after learning of the loss or theft of the access device" (borrowed from 1005.6(b)(1)) seems like a prudent timeframe.
I have my Mastercard and Reg E Error Resolution
webinar coming up on October 16 that will address questions such as this.VISA and Reg E Error Resolution
is on October 13th.
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!www.tcaregs.com