Will I be held liable for fraud on my stolen card?
With Zero Liability, you won't be held responsible for "unauthorized transactions." As a Mastercard cardholder, zero liability applies to your purchases made in the store, over the telephone, online, or via a mobile device. As a cardholder, you will not be held responsible for unauthorized transactions if:
- You have used reasonable care in protecting your card from loss or theft; and
- You have promptly reported it to your financial institution when you knew that your Mastercard was lost or stolen.
Zero Liability does not apply to the following (or certain) Mastercard payment cards: Commercial cards, unregistered prepaid cards or gift cards.