Whether doing the weekly shopping in the supermarket or filling up the car at the garage: paying by plastic is both convenient and very wide-spread. However, non-cash transactions are not without their risks. With the new CosmosDirekt account cover package bank customers can now guard against EC and credit card fraud.

Saarbrücken, 18 January 2010. You can become a victim of credit card misuse sooner than you think: while you are paying at the checkout the data thieves can tap your PIN number with a quick glance over your shoulder. If they secretly copy the card data the person affected normally doesn't notice anything until the next bank statement comes – and then it's already too late. With this new Konto-Schutzbrief (account cover package) CosmosDirekt is the first insurer on the market to offer protection in the case of an emergency. This insurance offers low-priced coverage for any fraudulent misuse, whether it's withdrawing money from a cash point, paying with a credit or bank card, or online banking: for a year singles pay only € 24, which is a mere € 2 per month. For € 36 the entire family can be covered for a year.

“Even if you are very careful with sensitive card data, you can never completely rule out the risk of fraud,” said Thomas Schirra of CosmosDirekt. “And since the end of last year the liability regulations have become even stricter.” If the credit or EC card is used fraudulently by a third party, the person affected must always bear the expenses for every loss up to € 150, even if he is not at fault. This is the general regulation insofar as the respective bank or credit card company has no other regulation in their general terms and conditions. As far as liability is concerned, the customer is not off the hook until the loss has been reported to the bank and the card is frozen.

The loss can amount to thousands
However, it's not always just a case of € 150: depending on the card limit the loss can easily run into thousands. If for instance the thief uses the correct PIN or transaction number the bank may well assume that the card holder has acted negligently. This means: perhaps he wasn't careful with his PIN number and had it noted down on a piece of paper in his wallet. Thomas Schirra: “The onus of proof can very quickly be on the customer. He has to prove his innocence, which is normally very difficult. At the end of the day the aggrieved party almost always has to bear the entire damage.” With the CosmosDirekt account cover package the customer is in any case on the safe side.

Account Cover Package at a glance
Risks insured: all financial losses arising from fraudulent misuse of the account – withdrawing money from a cash point, non-cash payments and online banking. The a ccount cover package also covers fraud cases abroad.
Tariff : Annual coverage for singles: € 24, the entire family: € 36.
Sum insured : Losses up to € 50,000 are compensated.


CosmosDirekt – the biggest direct-selling insurer in the German market
With a premium income of approx. € 1.4 bn and more than 1.6 m customers, CosmosDirekt is the No. 1 direct-selling insurer in Germany. As a customer-oriented and innovative company, CosmosDirekt not only knows the customer's risks but can also provide the appropriate solutions.

For more information on non-cash payments please see www.cosmosdirekt.de/kontoschutzbrief