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Q: If someone has stolen your identity, and took money out of your checking account or charge something using your bank account, you get the money
has: most identity theft protection services examined on NextAdvisor.com guarantee a certain amount of money, usually up to $ 1,000,000 for cover the costs of restoring your identity. These guarantees do not, however, cover the money that was stolen from your checking account.
It is to your bank or financial institution to restore the money that was stolen from your accounts. Many banks voluntarily offer zero liability policies, which means they are actually promising to replace the stolen funds. Visa and MasterCard also offer zero liability policies, which extend to debit cards and credit cards. The money in your bank account is also protected by the federal government, to some extent. If your debit card is lost or stolen, your liability is limited to $ 50.00 in losses, as long as you report the loss to your bank within two business days. If you report the loss within 60 calendar days from the time of your bank statement is mailed, your liability is limited to $ 500.00. federal protections are a bit more generous if your debit card number is stolen, as opposed to the card itself.