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> Up to $1 Million Identity Theft Insurance: Provides coverage for certain costs and unauthorized electronic fund transfers. Why is this needed? If my bank err
by jeffparsons 5y ago
> Up to $1 Million Identity Theft Insurance: Provides coverage for certain
costs and unauthorized electronic fund transfers.
Why is this needed? If my bank erroneously decides to let somebody else transfer funds out of my account, or lets somebody else establish a debt in my name, then that's just a bank error. Is my bank not liable for that?
- FateOfNations 5y agoWhile the bank may be liable at the end of the day, you very well may have to sue to get them to accept liability, and lawyers cost money. The insurance pays for the lawyers.
- voganmother42 5y agoMitchell and Webb did a great riff on this: https://youtu.be/CS9ptA3Ya9E https://youtu.be/CS9ptA3Ya9E