Mobile Banking
Using phone © Rob Bouwman - Fotolia
checking
6 steps to get started with mobile banking

Banking » 6 Steps To Get Started With Mobile Banking

Closely watch account activity
Slide 7 of 7
Previous
text

Even in the event of identity theft, the government has your back while you're banking.

Benardo says all account holders at FDIC-insured institutions are covered by the Electronic Fund Transfer Act and the Federal Reserve Board's Regulation E. These two regulations limit the amount of personal liability for fraudulent charges to $50 when reported within two business days of the transaction.

Still, Benardo says account holders must be vigilant in reviewing their bank statements. If they fail to report fraudulent activity within 60 days of the occurrence, their institution may hold them responsible for all of the charges.

"The quicker you are aware of a fraudulent transaction, the better off you are in terms of protection," Benardo says.


Slide 7 of 7
Previous

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Claes Bell

Coordinated mob robs 1,400 ATMs at once

A crew of over 100 criminals targeted Japanese ATMs with 14,000 fraudulent withdrawals in just over 2 hours, exposing ATM security weaknesses.  ... Read more


Connect with us