Section I: Purchase Charge Card Program Overview

7. What happens if a Purchase Charge Card is lost or stolen?

You should instruct your cardholders to immediately report to you and the bank any instances when the charge card was used without their knowledge or consent, or when the charge card is lost or stolen.

Under the terms of the GSA SmartPay® 2 Master Contract, liability of the centrally billed account participant for lost or stolen charge cards shall not exceed the lesser of $50 or the amount of money, property, labor, or services obtained before notification to the Contractor. Charge cards that have been reported lost or stolen are blocked immediately by the bank against further usage. After the cardholder reports a lost or stolen charge card, the bank will send the cardholder a letter. The letter will explain the steps that need to be taken by the cardholder. The bank will issue the cardholder a new charge card with a new account number. Unauthorized transactions should not appear on the cardholder statement even though the charge card has been reported lost or stolen. If unauthorized transactions appear on a cardholder statement, the cardholder should contact customer service and file the appropriate forms.