The Electronic Fund Transfers Act says that banks cannot hold you liable for unauthorized charges made to your debit card. This means that if your debit card is lost, stolen, or counterfeited, the bank must refund you for all fraudulent charges - if you dispute them in a timely manner. In the case of a lost or stolen card, you have to notify the bank within 2 business days of learning the card was lost or stolen. In all other cases, you have to notify the bank within 60 days of receiving the statement showing the fraudulent charges.

If the bank doesn't refund your money within 10 days (or provisionally recredit the account while they finish their investigation), you can take them to court for a refund, plus up to $1000 of statutory damages, plus costs and attorneys' fees. 15 U.S.C. 1693f.


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