MasterCard Zero Liability Policy

If your prepaid debit card is a MasterCard prepaid debit card, you may enjoy some protections against unauthorized purchases made using your debit card (which is a good thing!).

Visa offers a similar Zero Liability Policy for Visa prepaid debit cards.

Not all transactions are protected, however.

Under MasterCard’s  Zero Liability policy, you cannot be held liable for unauthorized signature-based transactions when you report the suspicious activity within 90 days. Exceptions to the 90 days will be made if you can provide evidence of special circumstances such as a prolonged hospital stay or trip.

Zero Liability protection is provided under the following conditions: a) Your account is in good standing, b) You have exercised reasonable care in safeguarding your card (****To safeguard your card, make sure you REGISTER it as instructed by your card issuer****), and c) You have not reported two or more unauthorized events in the past 12 months. Zero liability does not apply if a PIN is used as the cardholder verification method for the unauthorized transaction(s). It only applies to signature-based transactions. Visit MasterCard’s Web site for more details.

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