Many people lose debit and credit cards and soon fall victim to fraud. Fraudsters can swipe heavily with these cards and land you in deep trouble. There are some basic tips to secure your money on losing debit/credit cards.
If you have lost the credit or debit card, contact the bank customer care helpline immediately. Banks have dedicated 24/7 customer care helpline numbers to block debit and credit cards.
Get the customer care helpline numbers from your bank passbook or even from the bank website. Never call the bank customer care number suggested by Google. Fraudsters who pose as bank employees are known to place such numbers online.
You must block the credit or debit card; otherwise fraudsters could misuse them for unauthorized transactions or other illegal activities. This makes sure you never lose money from the bank account.
The bank doesn’t take responsibility/liability for transactions which take place after the card is stolen, unless you report the loss of the card or block it. The bank would send an email, informing you that the card has been blocked. Save this for any reference in the future.
Register an FIR if you have lost the credit or debit card. Do this at the nearest police station. Filing an FIR doesn’t mean you would get the debit/credit card back. But, this is a precaution you must take as proof of the robbery.
If you lose money because of the loss of the debit/credit card, the bank would not give you a refund, unless there is an FIR.
Just blocking the debit or credit card, doesn’t mean you get a card replacement. This is because the bank believes there are chances of getting the debit/credit card back.
You must visit the bank branch and get a new credit or debit card. You can even apply for the debit or credit card online.
What if you are not using the credit card? Well, close the account and save on credit card annual charges.
Many people may link debit and credit cards for auto-payments towards monthly bills or any app-based payments. You must change these details once you get the new debit/credit card. Deactivate the credit card payment feature, till you get a new card.
Yes, you have lost the debit or credit card. You have even got a replacement credit/debit card. But, your work doesn’t end here. Minutely check the bank statements for any unauthorized transactions. Keep doing this for a few weeks/months after losing the cards.
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