In case you didn't know here are the type of U.S. Debit cards
1. U.S. has restricted atm cards. This only works at your banks atm
2. U.S. has an atm cards that will work at just atms (However, this card is becoming obsolete)
3. U.S. has an atm cards that will work at atms and merchants.
4. U.S. has debit cards that will work at atms and merchants and has a MasterCard or Visa logo
Number 1,2,3 can be assigned to either a checking or savings account.
Number 3 can be assigned to an unlimited checking account.
Number 4 is usually assigned to an unlimited checking account.
Numbers 1,2, and 3 can be only used as a pin transaction.
Number 4 can work as a pin or signature transaction either method will come of your checking account.
Current accounts are called checking accounts in the states.
Even through some U.S. banks don't follow the rule. U.S. debit cards do have protection
For debit card with 2 business days the loss is $50.00
2 to 60 business days the loss is $500.00
60 or more business days all the money plus any overdraft.
Both MasterCard and Visa has extended there zero liability to their debit cards. If you need to claim this. You will need to request a special form from your bank. This does not apply to pin transactions. (However, I think visa interlink may be covered under this but you would have to prove it went through this network).
Regulation E requires banks to give provisional credit within 10 business day of a written dispute. They have 45 days (90 days international) to investigate
Technically it is the 11th business day (even if the bank credits you on the 10th business day, you won't be able to use tell the 11th business day.)
Another rule that is sometimes overlooked is this
for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss. This info was obtained from
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm
For that rule above it does not matter if your card was used as a pin or a signature transaction.