March 31, 2022

What to do if your Credit, Debit, or ATM Card is Lost or Stolen

man running away with a debit card in his hand

Report Loss Or Theft Immediately

If your credit, ATM, or debit bill of fare is lost or stolen, don't wait to report information technology.

  1. Call — or become on the mobile app — and study the loss or theft to the bank or credit spousal relationship that issued the card as soon equally possible.Federal constabulary says you're not responsible to pay for charges or withdrawals made without your permission if they happen after you report the loss. It'south important to act fast. If y'all wait until someone uses your card without permission, you lot may have to pay some or all of those charges. Check your statement or online account for the right number to phone call. Consider keeping the customer service numbers for your bank or credit union in your phone's contacts, and go on them up to date.

  2. Follow up immediately in writing. Ship a letter to the carte issuer and include your account number, the date and time when you noticed your card was missing, and when you kickoff reported the loss. Go along a copy of your letter and your notes from calls with the depository financial institution or credit matrimony.

Sentry Your Accounts

  1. Keep checking your account statementsand call to report fraudulent charges ASAP. If you spot a charge y'all didn't make, call to report it immediately. If y'all await, y'all may have to pay for the charges, or lose the money withdrawn from your account.
  2. Follow upwards immediately in writing. Send a letter to the address used for billing disputes (credit cards) or errors (debit cards). Confirm that you reported the fraudulent charge or withdrawal. Include the appointment and fourth dimension when you noticed your bill of fare was missing, and when you first reported the loss.
  3. Check if your homeowner's or renter'south insurance covers you for card thefts. If not, ask your insurance company to include this protection in your policy going forward.
  4. Check your credit reports. Get copies of your free credit reports to monitor for accounts or charges you don't recognize. If you suspect identity theft, visit IdentityTheft.gov to report it and get a recovery plan.

How To Limit Your Losses

Nether federal law, you have protections that help limit what you have to pay if your credit, ATM, or debit cards are lost or stolen.

Credit carte du jour

ATM/Debit card

Y'all study your carte'southward lossbefore someone uses it

You aren't responsible for whatever charges you didn't authorize

You lot aren't responsible for any transactions you didn't authorize

You written report your card'due south lossaftersomeone uses it

The maximum you might be responsible for is $50

What y'all're responsible for depends on how quickly you lot reported it

Your business relationship number is used but your card isn't lost or stolen

Y'all aren't responsible for any charges you didn't authorize

You aren't responsible for any transactions you didn't authorize if you reported the loss inside 60 calendar days after your statement is sent to you

If someone uses your ATM or debit bill of fare earlier you report it lost or stolen, what yous owe depends on how quickly you lot report it.

If you lot report your ATM or debit card lost or stolen …

Your maximum loss is…

…before any unauthorized charges are made

$0

…within ii business concern days after you learn well-nigh the loss or theft

$50

…more than ii business days after you learn virtually the loss or theft, just within 60 calendar days after your argument is sent to you

$500

…more than threescore calendar days after your statement is sent to you

All the money taken from
your ATM/debit card business relationship, and perchance more than — for example, money in accounts linked to your debit account

How To Protect Your Business relationship Information

  • Don't share your account data. Don't give your account number over the phone unless you lot fabricated the call — and know why you demand to share information technology. Never go out your account information out in the open.
  • Protect your accounts by using multi-cistron hallmark, when available. Some accounts offering extra security by requiring ii or more credentials to log into your account. This is called multi-factor authentication — a security practice that makes it harder for scammers to log in to your accounts if they become your username and password. To log in to your business relationship, you'd need either:
    • Something yous have — like a passcode you get via text bulletin or an hallmark app.
    • Something you are — like a scan of your fingerprint, your retina, or your face up.
  • Keep an eye on your accounts. Regularly cheque your account activity, peculiarly if you bank online.
    • Carefully cheque your ATM or debit carte du jour transactions because they accept money from your account right away. Report any withdrawals you don't recognize to your banking concern or credit marriage immediately.
    • For your credit cards, open your monthly statements promptly. Compare the current balance and charges on your account with your receipts. Report any charges you don't recognize as soon as you discover them.
  • Go on your cards, PINs, receipts, and deposit slips prophylactic — and dispose of them carefully.
    • Behave just the cards you'll need. Don't comport the PIN for your ATM or debit card in your wallet, purse, or pocket. Never write your PIN on the carte du jour itself, or on any piece of paper that you lot could lose or someone could encounter.
    • Cut upwards old cards. Be sure to cutting through the business relationship number, the magnetic strip on the dorsum, and the security code — before you throw the pieces away in separate bags. If your menu has a chip, information technology may be hard to cutting. You may want to destroy the bit by bang-up information technology into pieces with a hammer.

Avoiding Credit Card Loss Protection Scams

Scammers sometimes contact you lot — by telephone, text, electronic mail, or by messaging you on social media — and try to pull a fast one on y'all into thinking you need to purchase "credit card loss protection insurance." They may say y'all need it considering computer hackers can get into your credit card and charge thousands of dollars. Or they might say they're from your credit bill of fare company's "security section." They'll claim you lot merely need to ostend your account number to activate your card's protection feature — just yous'll terminate up getting charged. No thing the story, it's a scam and they're only after your account number. Reputable fiscal companies won't contact yous like this, and there'south no demand to pay for this so-called protection. Federal law already protects you from unauthorized use of your credit card.

If you see a scam, fraud, or a bad business practice, tell the FTC. Go to ReportFraud.ftc.gov, the FTC's website that makes information technology like shooting fish in a barrel for you to written report.