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Stolen or Lost Tobacco Credit Card Processing Debit Cards

There have been many cases of debit cards being stolen or lost. If this happens to you, you must act immediately so that the liability for any of the charges can be cut off. The case is completely different from losing your credit card. One must know the difference and the limit of the loss. If some other person uses your debit card without your permission, you might lose more than you lose a credit card. One can immediately contact the bank so that it will help you restrict the loss that happened.

One can contact the bank quickly once you have lost the debit card. Once you have done this, you will not be held responsible for the transactions and it will be considered invalid. The limit of your loss will depend upon the quickness with which you report the loss and whether you card is used before you report the case.

If you make the report of the loss within two days, the bank will hold you responsible only for about fifty dollars. But if you fail to report within two days, but within sixty days of the date of the statement, you might lose 500 dollars. If the loss is not reported within the sixty days of the date of statement, you will have to pay the entire amount. You will also have to bear with the additional loss that happened on the card. If you did not report due to other circumstances such as long travel, disease or any military service, the holder of the card can extend the period of notification.

If the state imposes liability limits that are low, those limits will be applied to the card holder. Each and every debit card or credit card will have its own information and restrictions. One must read the instructions that are given in the debit card carefully. Once you have done reporting the loss of the debit card, you will not be responsible for the loss that incurred after the incident. The card will still show the transactions and it is a must that one needs to observe the deals that happened. Once you see the unauthorized transactions you can get it reported to the issuer of the card. Most of the firms have toll free numbers along with service centres which will be working twenty four hours in order to deal with such emergencies.

One must not forget to give the give the number of the account, the date in which you found your card missing and the date in which you reported the loss. One can check with the insurance policy to see whether they cover the liability of card thefts. There are some insurance firms which allow the persons to get this clause included in the policy.

The effective method in which you can make your cards safe by keeping the PIN number safely. One must not use the address, date of your birth or your social security number as the PIN number and always gets the number memorized. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.