What to do if You lost a Debit Card?

Discussion in 'Growing and Managing a Business' started by paralin, Jun 18, 2012.

  1. paralin

    paralin
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    My friend lost his debt card while traveling his way to home. Can you tell me what he needs to do and how much time it will take for a new debit card?

    Regards
     
  2. Choice Checks

    Choice Checks
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    Call your bank and report it lost/stolen, and they can issue a new one. Generally. It can take up to 7 days for replacement card to be issued. Some banks can express the card to you, but it would be a fee.
     
  3. sigma

    sigma
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    Call the bank immediately to cancel the debit card, and then go to bank to get a new debit card, normally you can get the new debit card immediately
     
  4. Business Attorney

    Business Attorney
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    Call the card issuer immediately.

    Here is what the FTC has to say:

    Report the loss or theft of your credit cards and your ATM or debit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. It's a good idea to follow up your phone calls with a letter. Include your account number, when you noticed your card was missing, and the date you first reported the loss.

    Your liability under federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss. If you report an ATM or debit card missing before it's used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized transfers. If unauthorized use occurs before you report it, your liability under federal law depends on how quickly you report the loss.

    For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don't report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.

    If unauthorized transfers show up on your bank statement, report them to the card issuer as quickly as possible. Once you've reported the loss of your ATM or debit card, you cannot be held liable for additional unauthorized transfers that occur after that time.​
     
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  5. branditamerica

    branditamerica
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    call the bank and tell them you lost it and you will probably have to go to your bank and they will give you one i think ship it to you in 7-10 days
     
  6. patrick0001

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    Beside report to bank, you may log a police report as prove. If anyone still access the card for transaction, it may help police to investigate.
     

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