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Community Corner

Community Update

Do not use Magyar Bank for a Small Business Checking Account. Magyar refuses to honor MasterCard protections that MasterCard says are available to Small Businesses using a MasterCard Debit Card. Even though MasterCard says that Small Business Customers have Zero Liability in using a MasterCard Debit card, Magyar insists that Small Businesses are 100% liable for all fraud through the MasterCard Debit Card. Go with a bank that actually stands by the MasterCard name, and the MasterCard's protections are guaranteed.

From MasterCard's website:

Zero Liability Protection

Zero Liability does not apply to MasterCard payment cards:

used for commercial, business or agricultural purposes (PLEASE NOTE: Zero Liability does apply to MasterCard credit and debit cards for small businesses);

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