While it can be upsetting to lose or have your debit or credit card stolen, you must act quickly to stop fraudulent use. Because ATM cards provide easy access to our bank accounts, security is of the utmost importance. Blocking your card right away will stop unauthorized transactions if it is lost or stolen. This guide offers easy ways to quickly block your compromised or lost card and speed up the replacement application process. You may protect your money and lessen the chance of fraud by acting quickly to take these actions.
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Methods to block the Lost stolen debit/ credit card
By calling customer care-On the back of every ATM card is a toll-free number. If you lose your card, look up the bank’s name and toll-free number online and give them a call. Before you dial, make sure you have important information like your bank account number and recent transactions at your fingertips.
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By using netbanking- Go into your Net banking account if you can access the internet on a computer or a smartphone. Go to ‘Card’ or ‘Services’ and submit a request to block your missing card there.
By using SMS-You can block cards via SMS with many banks. Transmit an SMS containing the word “BLOCK” to the number your bank designates from your registered mobile number.
Visiting the Bank Branch That’s Closest to You-Find the closest bank branch if your card disappears while the bank is open. Notify the bank employees of the circumstance and ask them to stop using your lost or stolen card right away.
To protect your money, you can quickly block your lost or stolen ATM card using any of these methods. In order to reduce the possibility of unauthorized transactions and safeguard your assets, you must act quickly.
After Losing Your Debit or Credit Card, It’s Critical to Block It
It’s critical to quickly block your credit or debit card after it’s lost in order to stop unwanted access and potential financial losses. If nothing is done right away, the card might be used fraudulently by someone else, endangering your money. You can prevent unauthorized charges on your account and preserve your financial security by blocking the card. Blocking the card also keeps it from being used further and gives you time to get a replacement. It’s imperative to take prompt action to minimize any possible harm and guarantee the security of your money.
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Definitions of Credit and Debit Cards
Two popular forms of payment cards used in financial transactions are debit and credit cards. Debit cards enable users to make purchases with money that has already been deposited into their bank accounts by connecting them directly. Whenever a debit card purchase is made, the associated bank account is immediately credited with the purchase amount.
Conversely, a credit card enables the bearer to obtain loans from the card company up to a predetermined credit limit. Using the credit card, the cardholder can make purchases or cash advances. They must repay the borrowed amount, plus any applicable interest, usually once a month.
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Debit cards utilize the cardholder’s personal funds, while credit cards provide a line of credit from the card issuer. There are variations in the methods that the funds are accessed and managed, despite the fact that both card types offer convenience and security for transactions.
