Losing or having your debit/credit card stolen can be distressing, but swift action is crucial to prevent fraudulent use. ATM cards offer convenient access to our bank accounts, making their safety paramount. If your card is lost or stolen, the immediate step is to block it to prevent unauthorised transactions. This guide provides simple techniques to swiftly block your lost or stolen card and expedite the process of getting a replacement. By following these steps promptly, you can safeguard your finances and mitigate the risk of fraudulent activities.
Read More: BHIM app is giving up to Rs 750 cashback offers, here is how to claim
Here are Four Methods to Block Your Lost/Stolen Debit/Credit Card
Method 1: Call Customer Care
All ATM cards feature a toll-free number printed on the back. If your card is lost, Google the toll-free number along with the bank’s name and make the call. Ensure you have essential details like your bank account number and recent transactions handy before dialling.
Method 2: Using Netbanking
If you have internet access via a PC or smartphone, log in to your Net banking account. Navigate to the ‘Card’ or ‘Services’ section and initiate a block request for your lost card.
Method 3: Using SMS
Many banks offer the option to block cards via SMS. From your registered mobile number, send an SMS with the word “BLOCK” to the designated number provided by your bank.
Method 4: By Visiting the Nearest Bank Branch
During the bank’s operating hours, if your card goes missing, locate the nearest bank branch. Inform the bank staff of the situation and request them to block your lost or stolen card immediately.
Each of these methods offers a swift way to block your lost or stolen ATM card, ensuring the security of your finances. It’s essential to act promptly to minimise the risk of unauthorised transactions and protect your assets.
Why It’s Important to Block Your Debit/Credit Card after Being Lost
Blocking your debit/credit card promptly after it’s lost is vital to prevent unauthorised access and potential financial losses. Without immediate action, the card could be used by someone else for fraudulent transactions, putting your funds at risk. By blocking the card, you safeguard your account from unauthorised charges and protect your financial security. Additionally, blocking the card prevents further misuse and gives you time to request a replacement card. Timely action is crucial to mitigate any potential damage and ensure the safety of your finances.
Read More: How To Verify PAN Card Online
What is Debit and Credit Card
Debit and credit cards are two common types of payment cards used in financial transactions. A debit card is linked directly to the cardholder’s bank account, allowing them to spend funds that are already deposited in the account. When a purchase is made using a debit card, the money is immediately deducted from the linked bank account.
On the other hand, a credit card allows the cardholder to borrow funds from the card issuer up to a certain credit limit. The cardholder can make purchases or cash advances with the credit card, and they are required to repay the borrowed amount along with any applicable interest charges, typically on a monthly basis.
While debit cards use the cardholder’s own money, credit cards provide a line of credit from the card issuer. Both types of cards offer convenience and security in transactions, but they differ in terms of how the funds are accessed and managed.
