Check Fraud Protection Terms and Conditions
- The maximum check fraud reimbursement is $25,000 for personal accounts and $20,000 for business accounts, for all checks, regardless of the number of checks for which the requests for reimbursement are presented and/or the number of requests made. Please note that if EZShield Check Fraud Protection coverage for a personal account is purchased and these checks are used to represent a business, the maximum reimbursement will be reduced to $15,000.
- EZShield Check Fraud Protection will not reimburse for check fraud perpetrated by any of the account holders.
- EZShield Check Fraud Protection will not reimburse for check fraud if an immediate family member of any of the account holders perpetrates it. Immediate family members shall include all spouses, parents, sons, daughters, or grandchildren of the account holder.
- EZShield Check Fraud Protection will not reimburse for check fraud if any member of an account holder's household perpetrates it. Members of an account holder's household shall include any person living with the account holder on a full-time or a part-time basis, including all house guests, domestic employees and / or boarders living in the account holder's domicile.
- EZShield Check Fraud Protection will not reimburse for check fraud if it is perpetrated by an authorized signer or an employee responsible for accounts payable, payroll, or any one else functioning within the accounting role. EZShield will not reimburse for check fraud if any authorized signer or member of the accounting staff is deemed to not have exercised due care in the safeguarding of the checks resulting in contributory negligence.
- To qualify for EZShield Check Fraud Protection reimbursement, the check must be payable to an entity located in the United States or to a person living in the United States and its territories.
- EZShield Check Fraud Protection will communicate all applicable information and transmit any relevant document to the consumer's financial institution.
- EZShield Check Fraud Protection lasts until check order is exhausted, or for two years.
- Check fraud is one of the most damaging forms of identity theft.
- In addition to wiping out your account, it can tarnish your credit report.
- Identity theft has topped the list of Federal Trade Commission complaints.
- The average loss per fraud incident is $2,412.
- Business accounts are believed to have the highest risk of fraud.
- An estimated 50,000 cases of fraud a year are committed on the 24 million U.S. businesses.
- Alteration/forgery accounts for over 30% of fraud cases.
