The Buyt Desk
When you misplace your debit card or it is stolen, it is considered a lost debit card. Do not panic when you do not find your debit card. Here is what you must do.
Anything that happens to your money will cause anxiety. So does losing your debit card. There will always be fear of someone misusing the card. This is the moment when you should not panic but act fast to save your money. Below are the immediate actions that you should take so that the money in your savings account is safe.
Immediate actions to be taken when you do not find your debit card
Block the Lost/Stolen Card – Before thinking about what to do about it, you should inform your bank or debit card provider about the situation and block your debit card. Blocking it will avoid the misuse of the card and your money will be safe. Call the customer care number of your card provider and ask them to freeze your card and inform them that you have lost your card. Also, there are other ways to block the card, through bank apps, SMS or internet banking. But not all banks provide this facility. To be on the safer side always know the card blocking options beforehand of all the banks that you have an account in. The bank representative will block and deactivate your debit card once you inform them. Also at the same time, you can raise a request for a new debit card.
There are two options to block, one is a permanent block and the other is a temporary freeze. When you are sure that you will find your debit card soon you can opt for a temporary freeze so that you need not request a new one but unfreeze the current debit card once found. The temporary freeze will avoid unauthorized spending. If you do not find it after a few days, you can permanently block it and request a new card. Your account may be auto-debited with the cost of a new debit card.
Inspect your account – Access your savings/current account whose debit card is lost and check the recent debit history. If you find any debits that are not done by you, note down the details and inform the same to your bank. Using the details like the location, merchant, date and time you can crack it down. If you find the thief, you could recover your money.
Ways to get a duplicate ATM card
Net Banking – Login to net banking. Find a service to replace debit /ATM cards. Find the card that needs to be replaced. Now raise a request with all required details for a new debit card. Keep looking for acceptance of the application by the bank and dispatch of the card. It will be sent to the postal address mentioned in the account details. You will receive the new card within one week of the dispatch date.
Mobile Banking – Nowadays all banks offer mobile banking through their app. Log in to the app and locate the debit / ATM card service and find the card that needs to be replaced. Raise a request for replacing the card. New cards will be sent to the postal address mentioned in the account details. You will receive the new card within one week of the dispatch date.
Customer Care – If you find net banking and mobile banking difficult, you can raise your request by talking to a bank representative at the customer care number. Call your bank’s customer service number which is usually a toll-free number. Explain to them the situation and ask them to replace your debit card. Give them all the required details. Once the request is processed it will be sent to the postal address mentioned in the account details. You will receive the new card within one week of the dispatch date.
Branch Visit – If you are near the bank branch that has your account whose debit card is lost, you can directly walk in and talk to the manager and explain the situation. You need to fill out the application form for a duplicate debit card. You can choose the option of picking up the new card at the branch or dispatching it to your postal address mentioned in the account details. Accordingly, you will need to pick it up from the branch or receive the new card within one week of the dispatch date.
Summing up
Losing a debit card is an unfortunate event and most of us start panicking. But the foremost important thing is keeping your account safe. You can choose any way to block your card either temporarily or permanently. Similarly, you can opt to get a duplicate card. Report as soon as you know that your debit card isn’t with you. Do not waste more than 5 minutes in finding it, instead block the card temporarily and then search for the card. If you find it you can unblock it or raise a request for a new card.
