Imagine being in the line paying for your groceries, and you discover the debit card has gone missing. Don’t be concerned – canceling your debit card can be done in a matter of seconds. When using a mobile banking application, it is possible to end the card using your mobile. The other option is to contact your bank and request for them to shut off the card.
Cancel Your Debit Card Online
In contrast to prepaid cards, they are tied to your account at a bank. This is why it’s crucial to report their theft or loss as soon as you can, advises the Consumer Financial Protection Bureau. If you inform your financial institution within 2 days, your responsibility for unauthorized charges is set at $50. The longer you put off, the higher the risk of losing your funds.
The first step in canceling the debit account is to sign in to your bank account via your phone or computer. The majority of banking apps allow customers to shut off their debit cards in just a couple of clicks. Capital One, for example, provides customers with the option of canceling their debit card through its mobile app or on its website. After logging into the account, select “Replace Lost Card” and follow the instructions. First United Bank, Ally Bank, and other credit card debt issuers provide this option.
Also, make sure you examine your account for any unauthorized charges. If you spot anything unusual, Contact a bank representative immediately. To ensure your security, stop all automatic payments before closing the debit account. Inquire about a replacement card with your financial institution after you are done. It is recommended to follow up with an email or letter with your card’s number, the date you reported the loss, and any unauthorized charges.
Contact Credit Card Companies
Certain consumers aren’t at ease with mobile banking. Plus, there aren’t all banks that provide this service. In these instances, it is best to contact your bank immediately when you discover the card isn’t there. Visit a branch in your area or go to its website by clicking “Contact” and then dial the provided number. The ATMs at the bank will show the phone number, too.
A different option would be to reach the provider of the card, like Visa and MasterCard. Visa cardholders, for instance, can report a stolen or stolen card at 1-800-847-3011. If you select the option to report it, a client care representative will remove your card and notify your bank. An alternative Visa debit card is issued within 24-72 hours. Depending on where you reside, it is possible to access an emergency cash loan until the new card is issued.
Be aware you should know that Wells Fargo and other banks permit customers to temporarily freeze their lost debit cards through the internet or mobile banking. If you opt for this option and your card appears, you can switch it back on immediately. Make sure to monitor your account at the bank until you locate the card or buy an alternative one.
Follow the identical steps if you have lost your debit card while taking a trip. Utilize LastPass or another password manager to protect the bank account’s number as well as password and other data you’ll need to cancel the debit card. The majority of password managers let users store confidential information in an electronic vault. This feature allows you to access your bank account details online and log in to the application to deactivate your card if required.