credit report - Lost or Stolen ATM Debit Cards - Your Liability

As our economy becomes more and more digital, ATM debit cards have become a frequent payment method. This article discusses your liability for lost or stolen card charges. ATM Debit Cards ATM debit cards have certainly made life a lot easier. For many people, carrying around a checkbook is a thing of the past. My debit card has been used so much I can barely see the numbers on it anymore. The downside, of course, is inevitably you will lose the card. For the unlucky, the card may even be stolen. If this occurs, you need to act quickly to cut off liability for any of the charges. ATM debit cards are not credit cards for legal purposes. With a credit card, your liability is limited to $50 so long as you let the credit card company know about fraudulent charges when you get your statement. The laws governing ATM debit cards provide much less protection. If you report an ATM debit card missing, you cannot be held liable for any subsequent withdrawals or charges. However, the rules are different if the unauthorized charges happen before you report the card missing: 1. You are responsible for losses up to $50 if you report the card missing or stolen within two business days of unauthorized charges occurring. 2. If you report the card lost or stolen after two business days have passed, you could be on the hook for up to $500 in unauthorized charges. 3. If you fail to report the lost or stolen card within 60 days of receiving a bank statement with unauthorized charges, you are totally and completely liable for all charges. While these laws may see unfair at first, they really aren't. I procrastinate as much as the next person, but even I wouldn't wait 60 days to report a stolen or lost debit card. At some point, you simply have to take responsibility for your life. Heck, I don't think I could survive two days without a debit card. If you suffer a lost or stolen ATM debit card, contact your banking institution immediately. You'll regret it if you don't. Richard A. Chapo is a San Diego business lawyer with http://www.sandiegobusinesslawfirm.com - providing legal services and legal advice to businesses in San Diego, California. Article Source:http://EzineArticles.com/?expert=Richard_Chapo credit report - Travel Expense Reports Travel expense reports are the records of the travel and expense (T&E) spending of the employees of business organizations. Indeed, travel and expense spending is the third largest but controllable cost after salaries of employees and data-processing costs of an organization. Every business traveler has to submit expense report to the Accounts Department of his company for claiming reimbursement. Almost all organizations, whether business or service, have their own formats of travel expense reports to be filled out and submitted by the employees at the end of their trips. Along with the submission of the report, an employee has to submit the receipts and vouchers of his expenses. However, some companies may not insist on the receipts if the total claim is less than certain amount. If the employees meet the expenses by credit card, the statement will serve as an evidence for claiming that amount from the employer. If the employee submits the travel expense report online, then he can attach electronic receipts. Generally for frequent business travelers, it is useful to submit T&E reports online to save time. Nowadays, companies are using expense report software to enrich the process of submission, approval and reimbursement by reducing the costs involved at the same time. The travel expense report should include the details about the full name of the employee, his designation and level, purpose, dates and locations of travel, list of all the expenses, advance amounts taken by the employee, if any, attachments of all the vouchers and receipts, preferable mode of payment to the employee and signatures of both the traveler and the authorized person who has given approval for the travel. While mentioning the expenses, the employee has to clearly segregate the credit card payments and cash payments. Once the report has been submitted with the concerned department for approval, it should be reviewed, and if everything is as per the rules, reimbursement should be sanctioned. Then the payroll department would reimburse the amount to the employee.