Lost Debit Card

You’re at the checkout counter, ready to pay for your groceries. When you reach into your wallet to grab your debit card, you realize that it’s not there. You retrace your steps and look all over the store, but you don’t have any luck.

Upon checking your bank account, you notice a charge that you didn’t make. It’s time for you to get on the phone with your bank.

You’ll need to report the lost debit card and lock it so no one can suck the money out of your bank.

That’s only the first step that you should take. Check out this guide to learn everything you need to do after losing your debit card.

Check Your Bank Account

Whenever you have a lost debit card, the first thing you want to do is check your account. If you see a charge that you don’t recognize, write it down and call your bank.

Even if the charge is only a few cents, it’s still worth bringing up with your bank. Some scammers will use your stolen debit card to ping your account for a small amount to test the waters before going all-in on cars and boats.

Report or Lock the Card

It’s time to call your bank to report the lost card. The representative will lock the card for you and handle any fraudulent charges.

After locking the card, they’ll send a replacement to you. It should get to you in ten business days.

Some banks will allow you to do all of this from their app instead of calling your local branch.

Cancel Automatic Payments

Right now, there should be a freeze on your account. If your utility company tries to bill you, it’s not going to work. When the payment doesn’t go through, your lights will get shut off.

To avoid this potential issue, turn off automatic payments until your new card comes in the mail.

Send a Follow-up Message

After you talk to the bank, it will take about ten days for the fraudulent charges to go back into your account and for you to receive a new bank card.

Your bank should give you an update in three days or so. If they don’t, send them a follow-up email or give them a call to learn how things are going.

Take Safety Measures

Now that you’ve got a new card, it’s time to take safety measures, so you don’t lose it again. Change your PIN.

You can go to https://bentoforbusiness.com/features/virtual-debit-cards/ to set up a virtual card. You can’t lose it if it’s on your phone.

Don’t Cry Over a Lost Debit Card

Having a lost debit card is enough to send you into a panic. Anyone can find it and go wild with your bank account.

The good news is that protecting your account is all a matter of contacting your bank. They’ll be able to freeze your account and get a new card to you in a handful of days.

For more tips that will help you manage your finances, visit the Lifestyle section of our blog.