There is no liability on you once you report the loss of the card. However, on transactions before the reporting, the liability is on you as the card holder. Likewise, you have no liability only on purchases using the swipe machine. Transactions conducted at an ATM or online are generally not covered as such transactions require the cardholder’s PIN (personal identification number) details. In case you have a premium credit card, you may be part of a liability programme covered by an insurer and may qualify for some relief.

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