Navy Federal Debit Card Agreement: What You Need to Know
As a member of Navy Federal Credit Union, you may have recently received a debit card in the mail. Before you start using it, it`s important to understand the Navy Federal Debit Card Agreement.
What is a Debit Card?
A debit card is a plastic card that is linked to your checking account. When you use your debit card, the funds are automatically deducted from your account. You can use your debit card to make purchases at merchants that accept Visa or Mastercard, withdraw cash from ATMs, and make online purchases.
What is the Navy Federal Debit Card Agreement?
The Navy Federal Debit Card Agreement is a legally binding contract between you and Navy Federal Credit Union. It outlines the terms and conditions of using your debit card, such as fees, dispute resolution, and liability for unauthorized transactions.
What are the Fees Associated with the Navy Federal Debit Card?
There are no fees for using your Navy Federal debit card for purchases or withdrawals at Navy Federal ATMs. However, there may be fees associated with using your debit card at non-Navy Federal ATMs or international ATMs. These fees are outlined in the Navy Federal Debit Card Agreement.
What Happens if There is an Unauthorized Transaction on Your Debit Card?
If you notice an unauthorized transaction on your debit card, you should contact Navy Federal immediately. You may be liable for up to $50 of the transaction if you don`t report it within two business days. If you report it within two business days, you won`t be liable for any unauthorized transactions. Navy Federal will investigate the transaction and may reimburse you for any fraudulent charges.
How Can You Protect Yourself Against Debit Card Fraud?
There are several ways to protect yourself against debit card fraud. First, don`t share your debit card information with anyone. Second, use your debit card only at reputable merchants and ATMs. Third, monitor your account regularly for any unauthorized transactions.
In conclusion, understanding the Navy Federal Debit Card Agreement is important for all Navy Federal Credit Union members who have received a debit card. Be sure to read and understand the agreement to avoid any fees or liability for unauthorized transactions. By following the tips for protecting yourself against debit card fraud, you can use your debit card with confidence.