What to do if my debit card is lost?

Oct 26, 2023 By Susan Kelly

As a cardholder, you need to report the loss of your debit card as soon as possible. Contacting your bank is the best way to ensure that your accounts are secure and prevent fraudulent transactions.

How can I protect myself if my debit card is lost?

Once you have notified your financial institution that your cards are missing, keep an eye out for any suspicious activity on your accounts. If you notice any unusual activity on your account(s), call the police immediately.

What steps should I take once I've canceled my lost/stolen debit card?

Immediately contact all service providers for automatic bill payments or recurring charges through phone or the Internet. You use this card to cancel these services. This includes utility bills, telephone service, mobile phone service, and subscriptions.

To prevent unauthorized access to your account after canceling the card, you should also change all of your PINs (e.g., financial institution ATM cards; lock mailbox; replace door locks).

This should help ensure that nobody can use your card or accounts after receiving notice from your financial institution that the card is no longer valid.

Also, consider: If you have other cards linked to this account (e.g., line of credit), you may want to request new ones as well for additional security.

However, if someone finds out your PIN or guesses it correctly, there really isn't much protection against what they do with those funds if they can access them. So, as a last resort, contact your financial institution and inquire about being able to have the card cut off from being used in a store by a thief who may have access to it. Technically this would be fraud, so they should help you out if possible.

What will happen next?

You might receive a new card with a different number or have to go through an approval process because of unauthorized purchases on your account.

If you notice unauthorized activities on any account linked to your credit account, please notify immediately to your care providers.

Can I keep my old debit card number?

No, without prior authorization, any current and new card(s) replaced due to loss, theft, or unauthorized use will be assigned a unique seven-digit account number.

How do I get my PIN?

Please visit one of the bank branches, and they will ensure you receive your new PIN in person. Please note that if your PIN is not provided in person (e.g., via mail), remember that it may be signed for upon delivery by post. If this is not possible, you can ask that it be sent via courier service. You need to provide an address and sign for the delivery (not available at all addresses). Once they have received the signed documentation, they will contact you to advise of the card(s) PIN number.

If you cannot visit a branch in person, you can also call your service provider to arrange for your new PIN to be mailed out.

What other actions should I take?

You should monitor your accounts regularly by checking the transactions posted during the statement cycle; these transactions may also include cheques or other tendered items before canceling this card. If there are transactions that do not belong to you, notify your bank immediately.

Is there anything else I need to know?

Yes. Any outstanding cheques or other items which were tendered before canceling this card remain the responsibility of the member/account holder. This includes any preauthorized transactions that are not posted during the statement cycle. You normally provide written verification for these items (e.g., charitable donations).

How long will it take before I receive my new PIN & Cards?

Once your service provider has received all documentation regarding the delivery of your PIN, you should receive your cards within seven (7) to ten (10) business days. First, however, provide all documentation for delivering your new PIN in person at one of your bank branches. It will be ready for pick up within three (3) business days.

Please note that some programs through which you may receive direct deposit or electronic statements require additional time before they are available again, so please plan accordingly.

Will my existing direct deposit(s) and/or pre-authorized payment(s) still work?

Yes, assuming there is no change in the account number on direct deposits or pre-authorized payments, this cannot be guaranteed because the account number has changed. However, if there were any changes to these items, we recommend contacting all recipients of these direct deposits or pre-authorized payments, or both. If you have any questions about this process, please contact your service providers.

Related Articles