What rights do I have under the Electronic Fund Transfer Act?

In Washington, the Electronic Fund Transfer Act provides certain rights for those who use credit cards for purchases. This Act protects consumers from unauthorized transactions and helps them if the transaction is incorrect. If you believe an unauthorized credit card transaction has been made, you have the right to dispute it. Your credit card issuer will have a dispute process you can follow which will allow you to have the issuer investigate the transaction. You have the right to be provided with an explanation of the dispute process, including how long it will take and how to get a decision from the issuer. You also have the right to request copies of records related to the disputed transaction. If a mistake was made, you are also protected from any fees or penalties that result from the dispute. The credit card issuer cannot hold you liable for any debts or charges unless they can prove you used the card intentionally or that you entered into a contract that required you to pay. In addition, the Electronic Fund Transfer Act limits the liability you have in the event of unauthorized use of your credit card. If the unauthorized use is reported promptly, your liability is generally limited to $50. If you wait more than two business days after learning of the unauthorized use, your liability could be up to $500. You may even be completely relieved of any liability if you prove that you never received the goods or services that were obtained with your credit card.

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What rights do I have under the Electronic Fund Transfer Act?

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