Lost or Stolen Card
Are you looking for a bank card in all your pockets but has it disappeared? We figure out what to do to prevent financial losses.
First of all, make sure that the card is actually lost. Perhaps you forgot it in a different jacket or left it at the checkout of the store you just left.
Situation 1: You have no doubt – your card is lost or stolen it
In this case, you need to urgently block the card. After all, there is a high probability that fraudsters can pay with it or withdraw cash at any moment. You can block a bank card in different ways:
- Call the hotline. A universal way. The emergency number is always indicated on the bank’s official website. It is better to save the bank’s hotline number in your mobile phone in advance, so as not to look for it in an emergency. The operator of the support service will ask you to name your passport data, a codeword or an SMS code that will be sent to your phone. After that, the card will be blocked;
- Through a mobile application. The fastest way. If you have access to the Internet, the application is already installed on your phone and it has an option to block the card;
- Via Internet Banking. It is convenient if you have Internet banking connected and have a computer, tablet or smartphone with Internet access nearby. If you have a personal account on the bank’s website, there is usually an option “Block card”. You will need to confirm your decision with a code from an SMS, which the bank will send to your number;
- Via SMS. Some banks use an SMS command system. A code word must be sent to the bank’s short number (for example, “blocking”). In response, you will receive a code that must be sent back to the bank number to confirm the action. But it is better to clarify in advance whether your bank offers such a service and what code words you need to use;
- At a bank branch. If you are near a bank office or have lost your phone along with the card, write a statement about blocking the card at the branch. But you need a passport for this.
Even after blocking the card, you can still use the money in the account. You can withdraw cash at a bank branch by showing your passport.
Once the card is blocked, you can leave a request for a new one.
Situation 2: You think you left a card at home
If you are still hoping to find a card and are almost sure that it is somewhere at home or at work, then other options may work for you:
- Temporary card blocking. Some banks offer a temporary blocking service: if a card is found, you can unblock it and you will not have to waste time re-issuing a new card. If the card is really lost, then it can be closed. The temporary blocking service can be accessed through a mobile application, online bank or through a hotline operator;
- Zero limit on any transactions. This is an alternative option: the card seems to be active but it cannot pay anything or transfer money to another account. Usually, you can set a zero limit on transactions through a mobile application, online bank or through a hotline operator. And after that, continue to calmly search for a card.
You’d better find out in advance in your bank whether it is possible to temporarily block the card and change the limit on it. If it turns out that your bank does not offer such options, you will have to weigh the risks each time and decide whether to immediately block the card for good or still wait and look for it.
The card was never found. Can you restore it?
If you still haven’t found the card but intend to continue using the account to which it is linked, the card must be reissued. It takes 1-10 days in different banks.
You can apply for a reissue at a bank branch or through an online bank.
Some banks charge a fee for early re-issuance – the amount depends on the type of card.
The new card will be linked to the previous account, but its number and PIN will be new.
If you do not want to use the old account, then simply withdraw money from it at the branch and close it.
Today it is not necessary to have a card with you to pay for services. Services like Apple Pay and Android Pay allow you to pay with your smartphone. They use biometric identification, which is considered more reliable than a PIN or SMS code.
If you have lost a credit card, it is best to reissue it. After all, you still need to make payments on the loan even if the card has disappeared. While you are waiting for a new card, you will have to pay off the debt at the bank branch through the cashier or in another way, which is specified in your loan agreement.
What if the fraudsters have already managed to steal money from the card before I blocked it?
If you act quickly, you have a great chance to get the stolen card back. You can object to a card transaction that was performed by fraudsters. But this must be done no later than the next day after you receive a notification from the bank about the operation.
If you meet this deadline, the bank will return the money. True, before that, the bank will have to make sure that you have not violated the safety rules when using the card.
How to control all card transactions?
To prevent fraudsters from stealing your money, carefully monitor all card transactions. The bank is obliged to notify you of all payments – your agreement specifies how it should do this.
You’d better connect SMS notifications. Then you will immediately notice the write-offs that someone else made for you, and you can promptly call the bank. Many banks charge a fee for SMS notification, but it is worth assessing all the risks and deciding which is more important.
The standard and usually free option is transaction emails. But it requires discipline from you – you will have to carefully check letters from the bank at least once a day.
Some banks are also offering a new service – push notifications via a mobile app. It is also free and convenient – such notifications do not clog up the phone memory and mail. But to receive them, the Internet must be constantly connected on the phone.
You can also track card transactions through a mobile application or online bank. You can always get an account statement at a bank branch and sometimes through an ATM. If your card has been stolen, it makes sense to double-check all the latest payments.