For most people, debit cards play an integral role in their everyday financial activities. They’re used to make purchases, deposit and withdraw money from checking accounts, and pay bills. As such, when a debit card is suddenly nowhere to be found, it’s natural to feel stressed. If you find yourself in this situation, act quickly so you can minimize the inconvenience and avoid being the victim of fraud.

How to Handle a Lost Debit Card 

1. Inform Your Financial Institution

As soon as you discover your debit card is gone, notify your financial institution. They’ll immediately cancel it and issue you a new one. Typically, you must report your card lost within a certain timeframe to make sure you aren’t held responsible for unauthorized charges. 

2. Monitor Your Checking Account

Next, investigate your checking account for suspicious activity. Look for charges that you know you didn’t make and write down the details of the transaction, including the date, location, and amount. Turn this information into your financial institution and file a dispute. 

3. Cancel Automated Payments 

Finally, if you have automatic bill payments set up with your debit card, cancel these. Since your account has been closed, your regularly scheduled payments won’t go through. Call each creditor or utility company and let them know the circumstances. Provide a different form of payment or request for your bills to be sent in the mail until you receive your new card. 

When you entrust Spirit of America Federal Credit Union with your hard-earned money, they take it seriously and do everything possible to keep your finances safe. As a member-owned financial institution that’s insured by the National Credit Union Administration (NCUA), they’re devoted to providing each customer with a positive experience. Since 1932, residents throughout Lancaster County, NE, have turned to them for savings and checking accounts, personal loans, and share certificates. Call (402) 467-1102 to learn more about becoming a member or visit them online for additional information on their services.