There are many cases when debit or credit cards are being stolen. If someone steals your debit card, what you should do?

You have to immediately call your bank to cancel your debit card and replace it.

If you will inform your bank on time you can limit your financial loss. Many banks and companies have 24-hour service to keep in touch with such emergencies. It would be nice of you if you program such numbers into your mobile phone or home hone in order not to search while you are put in such cases. Also, follow up your phone calls with a letter. Be sure to include your account number to your mobile phone, when you noticed your card was missing, and the date you first reported the loss.

Your maximum liability under Federal Law for unauthorized use of your credit
card is $50.00 and most debit card companies voluntarily offer the same protections.
If you report the loss before your credit cards are used, the FCBA (Fair Credit Billing
Act) says the card issuer can not hold you responsible for any unauthorized charges. In
addition, if your number is stolen, and not your card itself, you should have no liability
for unauthorized usage. If for some reasons your bank does not thoroughly protect you
in the event of debit card theft, you may want to check your homeowner’s insurance
policy. There is a possibility that it might cover your liability for card thefts.

You have to check your account transactions regularly. You don’t have to wait until the
end of the month for a statement day. Now most checking accounts offer online access
that gives you opportunity where you can check your accounts daily, according to your
wish.

It is highly recommended that it will be good for you to check your account on a
weekly basis.

If your card is stolen the theft has any operation to do and of course unauthorized
transfer. This can fully clean out the amount in your account to which the debit card
is connected. If you inform about the loss your bank within two business days after
you realize your card is missing, you will not be responsible for more than $50 for
unauthorized use. However, if you do not inform about the loss within two business
days after you discover the loss, you could lose up to $500 because of an unauthorized
transfer. It might sound foolish to point out that if you do not notice or report and
unauthorized transfer or charge within 60 days, you will be fully responsible, but many
people have accounts they hardly check. It is important to check accounts even you
don’t regularly use in order to prevent from unauthorized use.

The best way to protect your card against fraud is to know where your cards are
at all times and to keep them secure. While you are getting money from ATM’s you
have to look around in order not to let anybody see your PIN (Personal Identification
Number), keep your PIN a secret. Never use easy passwords as your address, birth
date, phone number or Social Security number and do memorize the password. Also,
be cautious about disclosing your account number over the phone unless you know you
are dealing with a reputable company. Never put your account number on the outside of
an envelope or on a postcard.

In addition, if you don’t secure yourself nobody will secure you.