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Lost ATM/Debit Card

Answered by: 
Jim Bedsole
John Burnett

Question: 
If a consumer lost their ATM/DEBIT card 13 times, are we allowed not to issue another card to the client? Our disclosure only notes a $5.00 fee for replacement cards, there is no limit on replacements.
Answer: 

Answer by Jim Bedsole:

You are under no obligation to provide another card. Especially if you have suffered losses as a result of unauthorized use of the lost cards, you would be entirely within your rights to refuse to issue another card. The customer's only recourse would be to close their account and take their business elsewhere.

Answer: 

Answer by John Burnett:

You are under no obligation to provide another card. Especially if you have suffered losses as a result of unauthorized use of the lost cards, you would be entirely within your rights to refuse to issue another card. The customer's only recourse would be to close their account and take their business elsewhere.

First published on 11/06/2016

Filed under: 
Operations
Compliance
Filed under compliance as: 
Reg. E
Filed under operations as: 
Reg. E

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