How to Manage Identity Theft

Do the same rules apply for unauthorized check card and ATM charges?

The Electronic Fund Transfer Act (EFTA) restricts liability on fraudulent check card and ATM charges provided they are promptly reported. If your debit or ATM card is stolen , your liability is:

• $0 if you report the missing card straight away and it hasn't been used.
• Up to $50 if you notify the bank within two business days after you realize the card is gone.
• Up to $500 if you don't notify the bank within two business days after you realize the card is missing, but do notify it within 60 days after a bank statement is mailed to you that lists the fraudulent charges.
• Unlimited if you fail to notify the bank within 60 days after a bank statement is mailed to you listing the unauthorized charges.

If your checkbook is stolen, call the bank immediately and ask it to put a freeze on your account. Also contact the major check verification companies and ask that a consumer reported identity theft security alert be placed in your ChexSystems consumer file. This may prevent the ID thief from opening a new bank account in your name.