long as you have not acted with complete recklessness,
or participated in fraud, you are protected by the following
section of the Banking Code.
Unless we can show that you have acted fraudulently or
without reasonable care, your liability for the misuse
of your card will be limited as follows.
If someone else uses your card, before you tell us it
has been lost or stolen or that someone else knows your
PIN, the most you will have to pay is £50. Your
liability for charges made to your lost or stolen card
is £50 per card. In many cases, credit card issuers
will even waive that first £50 if you report your
card stolen within a reasonable amount of time.
If someone else uses your card details without your permission,
and your card has not been lost or stolen, you will not
have to pay anything.
If someone else uses your card details without your permission
for a transaction where the cardholder does not need to
be present, you will not have to pay anything.
If your card is used before you have received it, you
will not have to pay anything.
the above conditions, you are not liable for any charges
made to your card without your permission. If your card
is still in your possession and someone else uses your
credit card details, you won't have to pay any of those
charges. If someone uses your credit card for 'card not
present' transactions - for instance, to make online purchases
- you don't have to pay any of those charges. If someone
makes charges to your account before you receive your
credit card UK Banking Code specifies that you won't have
to pay anything.
are still liable for any charges that you made/authorised
to your card. However, if your card is lost or stolen,
and you report the loss, the most that you will be liable
for on those charges is £50 per card. It is in your
best interest to find out before you apply for a credit
card whether the issuing organisation subscribes to the
UK Banking Code. When you apply for a credit card through
moneyeverything.com, you can easily check each credit
card UK issuer to research whether they subscribe to the
UK Banking Code.
Honest Johnny -
The Consumers' Advocate.
Author: J. Francis