What to do when ATM card or Credit Card gets lost or Stolen


Losing something valuable is a part of life; may it be a loved one, your relationship, your goals, and yup – your ATM card. Losing your ATM card does not necessarily mean you’re already the worst when it comes to caretaking because losing it can be caused by a lot of things; it can be damaged or destroyed, it can be stolen, and so on. Given all these circumstances, it is narrowed down to either being lost/damaged or stolen. What actions do you need to take to be ensured that your finances would not be handled by any one if in any case this happens?

Contact your bank Immediately

You need to immediately take action if you damage or lose your ATM card. You can either call the bank to report the incident that has happened or you can directly go to the bank (branch of account). If you decided to call the bank, the bank’s customer service representative will of course ask personal verifications to ensure the security and privacy; so be ready for answering questions that is linked to the confidentiality of your account. By going to the bank however, you have to bring a valid ID to gain access and for them to be 100% sure that you are the rightful owner of the account.

This is the first step and arguably the most important because it will block unauthorized access. If it was stolen and the thief somehow managed to know your PIN and your credentials, reporting it can give you a guarantee that the amount of money you have on your account when you left it will remain the same.

Inform necessary people

If however the ATM card you lost contains a bank account that is joint, notify the person involved so that they can aid you in reporting the incident. Again, reporting the incident should be done FIRST and IMMEDIATELY; even if the card only holds a minimal amount of money, you should not risk it.

There are some instances where there are certain extensions from the main card as forms of credit cards and it is best to inform the people who have these extensions that the account might be in trouble so that they know what they should do to prevent the tragedy from being one bigger mess.

Read: How to apply for a Credit Card

Replace the ATM card or credit card ASAP

If you damaged it or you lost it, of course, you would want another ATM card. If it got stolen however, you would want to change information or PIN in order to ensure the safety of your transactions. To replace the ATM card, you can go to your branch of account and then ask for the replacement of your ATM card. You should have:

  • Notarized Affidavit of Loss
  • Two (2) valid IDs to be sure

Some banks offer fast ATM card replacement which means you can wait for it the moment you enter the bank for request while others would tell you that it will be done within 3-7 business days so ask your bank about it. Take note that replacement of atm cards is not free; it usually costs around Php100.00 – Php300.00 so be sure to bring that amount in order for you to not go through the hassle of going back.

It is a necessity to protect every personal thing you have including your personal finance accounts. Taking these steps immediately can help you avoid being stolen from or worse, a bigger and messier situation.

Read Also: Pros and Cons of having Credit Card

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