Question

Irene has a debit card but rarely uses it. Last night, she determined that her card was lost and had been for sometime. What is Irene’s potential maximum liability if someone uses the card without her permission?

Answer 1

Answer:

All the amount in her account

Explanation:

It is important to let concern authority known regarding a stolen debit card before it has been used. In this case, Irene had to no idea that her card has been stolen, so Irene's potential maximum liability is the total amount in her account. The bank is not liable because she did not convey this news to the bank earlier.