Final answer:
The statement is false. Not all financial institutions waive express fees for replacing lost or stolen cards; it varies by institution.
Step-by-step explanation:
The statement, "The express fee is always waived when the card has been replaced lost or stolen," is false. While some financial institutions may waive the express fee for replacing a lost or stolen card as a courtesy to their customers, this is not a universal practice. Policies regarding fee waivers for replacement cards can vary by institution, so it's important to consult the specific terms and conditions or customer service of your bank or credit card issuer.