Card Services > Visa Debit Card > Limit Your Liability

Guideline 1 - Timely notice given

Your role as a responsible cardholder is to notify Aventa Credit Union within two business days from the moment you realize your card has been lost or stolen. If you notify your financial institution within two business days of learning that your card was lost or stolen, your liability is capped at $50.

Example 1

Because you were able to report the theft within two business days of discovering that your card was lost or stolen, you are only responsible for $50.00 of the total loss and not the full $260.00.

Example 2

Because you were able to report the theft within two business days of discovering that your card was lost or stolen, you are only responsible for $30.00, the total amount lost on your card, which is less than the $50.00 liability cap.

Guideline 2 - Timely notice not given

If you do not notify Aventa Credit Union within two business days of learning of the loss or theft of your debit card, the liability cap increases to the lesser of $500.00 or the sum of:

• $50.00 or the amount of unauthorized transfers that occur within the first two business days after your learn of the loss or theft, whichever is less; and
• The amount of unauthorized transfers that occur after the close of two business days and before notice to Aventa Credit Union of the loss or theft, provided that Aventa Credit Union establishes that these transfers would not have occurred had you notified them within the two-day period.

Example 1

Because you were aware that your card was lost or stolen, but you did not notify your financial institution within the two-day timeframe, your liability cap increases to a maximum of $500. In the example above, you are liable for $250. Here’s why:

• Within the two business day window, the perpetrator spent a total of $360. If you had notified Aventa Credit Union of the loss or theft of your debit card at that point, you would be liable for only $50, given Guideline 1. The same $50 limitation of liability applies for these two days, even though you didn’t report the loss or theft by the end of the second business day.
• Because the perpetrator continued to spend on your card without your notification to your financial institution, an additional $200 was lost on your card on Friday.
• Guideline 2 indicates that you are liable for up to a total of $500, if you fail to notify your financial institution within the first two business days. Because an additional $200 was lost after the first two business days, you are responsible for this amount, plus the $50 lost during the two business day window, for a total of $250.

Example 2

Again, because you were aware that the card was lost or stolen, but did not notify Aventa Credit Union within the two-day time frame, your liability cap is set at a maximum of $500. In this case, you are only liable for $500 since the total loss is more than that amount. Here’s why:

• Within in the two business day window, the perpetrator spent a total of $460. If you had notified Aventa Credit Union of the loss or theft of your debit card at that point, you would only be liable for $50, given Guideline 1. The same $50 limitation of liability applies for these two days, even though you didn’t report the loss or theft by the end of the second business day.
• Because the perpetrator continued to spend on your card prior to your notification to your financial institution, an additional $1,000 was lost on your card.
• Guideline 2 indicates that you are not liable for any amount exceeding a total of $500, so you are responsible for only $500 of the total loss ($50 from the fraud during the first two business days and $450 from the $1,000 of fraud that could have been prevented had you timely reported the card loss).