How Do You Cancel a Stolen Debit Card?

To prevent the misuse of your finances and personal information, it is essential to know how to cancel a stolen debit card right away.

It is that instance when you are sure you lost your debit card; perhaps you forgot it at a bar, or you fear someone stole it from you, which can be very stressful.

One good thing about having an emergency number is that you will not panic when your debit card gets lost.

We’ll guide you through the important steps as it will help you handle the situation confidently and securely.

How to Cancel a Stolen Debit Card

One of the quickest and easiest ways to make sure that your financial resources are safe from unauthorized use is to cancel a lost or stolen debit card. Here’s how to go about it:

1. Ensure that Your Bank App is Functional

Many banks indeed provide apps that do way more than simply facilitate mobile check deposit and tracking of your transactions.

Some banking apps, including those of large banks, such as Bank of America and Ally Bank, have a feature that allows you to turn your debit card on or off to prevent unauthorized activity.

In case your debit card gets stolen, just turn it off, contact customer service and they will replace your card. 

Additionally, ensure that you contact a customer service representative in case you discover any suspicious activity in your account.

It is also worth noting that you might want to know beforehand if the app allows you to disable your debit card so that you’ll have an idea about time constraints when needed.

2. Call Your Bank Right Away

Whether you have an app that allows you to cancel your card or not, you should probably call your bank so that they can put a freeze on the card.

Get in contact via the phone number that is listed on the bank’s website or on your bank statement and ask to talk to a representative. 

In some cases, an automated system could be in place where you can cancel your debit card.

Simply enter your account information, state the reason for canceling your card, and answer a few security questions and it can be as simple as that.

If you have any concerns or questions about your account like recurring transfers and fraudulent purchases, select the option to speak with someone instead.

You can also go to the bank in person, but that’s not exactly the most efficient option.

3. Cancel Automatic Payments

If you have recurring payments attached to your debit card, you’ll need to cancel these so your subscriptions or memberships stay current.

Call the retailer in question’s customer service to make sure they cancel your payments. Some might even ask you to cancel in writing, so check the fine print.

Once you do that, call your bank again and tell them you’ve revoked authorization for the company to make recurring transfers from your account.

If you haven’t canceled payments from the retailer, you can also complete what’s called a “stop payment” with your bank.

You’ll need to submit a request in writing but check with your bank on the proper procedure to do so.

4. Monitor Your Bank Account

Once you cancel your debit card, write down a confirmation number and the customer representative’s name (if applicable) in case any problems arise.

Also, make sure to monitor your bank account carefully for any fraudulent transactions.

5. Follow Up in Writing

The Federal Trade Commission (FTC) recommends following up on a request to cancel a debit card in writing.

In a letter to your bank, including when your card went missing when you reported the loss, and your debit card number.

If you’ve reported fraudulent transactions, make sure to include that in the letter as well.

How Can One Ensure Greater Safety?

Ensuring the safety of your debit card doesn’t have to be a nerve-wracking experience. Here are some simple steps to help you keep your debit card safe:

1. Try a digital wallet: Consider using an app on your phone to make payments or withdraw cash instead of carrying your physical card everywhere. It’s convenient and safer.

2. Set up alerts: Get notified whenever there’s activity on your bank account. Early alerts can catch fraudulent transactions before they cause trouble.

3. Use a credit card: Consider using a credit card instead of a debit card. They offer better protection against unauthorized transactions, and you’re not risking direct access to your checking account.

4. Keep it to yourself: Don’t share your card details with anyone you don’t trust. Cyberthieves can use them without having your physical card.

5. Slim down your wallet: Only carry the cards you need. Leave the rest at home to reduce the risk of your wallet being lost or stolen.

6. Guard your PIN: Keep your personal identification number safe. Never write it down and stash it in your wallet.

7. Check your account regularly: Take a few minutes each week to review your account online. Make sure all the charges are legitimate and report anything suspicious right away.

If you think your card was stolen, or you think someone else has been using it, don’t keep quiet; call your bank immediately, or if you are an online customer, report it online.