Your debit or credit card has got stolen or misplaced? Follow these steps to block it and get a new one
New Delhi | Jagran Business Desk: The use of credit and debit cards is continuously increasing over the last few years. People usually call it plastic money. Using these two cards relieves us from the hassle of keeping cash. But, losing it can lead to trouble or unwanted consequences. In this article, we will inform you of the required actions that need to be taken if you lose your credit or debit card.
First of all contact your bank to get the card blocked immediately. Once you inform the bank, you will not be liable for any transaction from the card. As soon as you report the loss or theft of your card to the bank, it is the responsibility of the bank to protect you from financial fraud. In such cases, if your card is misused then you will not have to pay the amount.
Most credit card issuers offer a zero liability policy to protect the interests of cardholders, including financial frauds made at the time of card loss. In such cases, the complaint has to be filed immediately, so try to inform the bank at the earliest.
If you have a debit or credit card, read the policy carefully. This is because if the bank refuses to take responsibility and says that they are not liable then this burden will come on you. During this scenario, you need to prove that it is not your fault.
Once you prove that it was not your fault, the card-issuing bank returns the amount you have lost. But this process takes time. Therefore, always try to be alert about your card and immediately inform your bank branch.
The bank will issue a new debit/ credit once you fill and submit the application form.
Posted By: James Kuanal