What to do when your credit card is lost or misused

The loss of a debit card is undesirable, but unfortunately it happens from time to time. Card abuse can be influenced to some degree by your own diligence, but from time to time abuses remain a complete mystery.

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So what do I do if my card is stolen, lost or misused?

So what do I do if my card is stolen, lost or misused?

  1. Call the card’s lock number immediately after it has been found lost or misused, for example here. It’s a good idea to save the lock number on your phone. After the filing of a foreclosure notice, the liability for any misuse rests with the issuer card, only your own liability ends with the filing of a forfeiture notice.
  2. Your bank will tell you when to report crime. Typically, such cases include theft and abuse. Banks may also require a criminal report as proof of loss or misuse of the card.
  3. If you find that your account is being abused, request a settlement from your bank. A request for a settlement is usually always accompanied by a criminal report.
  4. If your bank card is found later but you have closed it, remember that the card can no longer be used. The card should be cut in half on the chip and returned to the issuing finance company.

Carefulness matters a lot!

Carefulness matters a lot!

Remember, too, that your own diligence also means. In case of abuse, the bank determines whether the cardholder has been diligent with the payment card. Carefulness can be divided into three levels:

If there has been no negligence of any kind, the cardholder’s liability is extinguished in its entirety, and the latter is unreliable for the costs of misuse. If the abuse is believed to have been caused by negligence, the cardholder will have to pay a deductible of EUR 150. For example, negligence is considered to be an inappropriate protection of a key when keying it.

In addition, negligence may occur if you do not check your bank card frequently enough, in other words, you will notice that the card has only disappeared after a significant period of time. So, especially in congested places and abroad, it’s a good idea to check frequently that your bank card is safe.

Outrageous negligence is expensive

Outrageous negligence is expensive

In turn, keeping a PIN and a debit card in the same place, like your wallet, is considered gross negligence. In addition, there is gross negligence in handing over a debit card to another person, such as a family member.

In the event of gross negligence, the Bank shall assume full liability for any damage suffered by the cardholder, who shall bear all financial costs.

Banks’ definitions of negligence are very much open to interpretation, and are therefore sometimes referred to in court. Ask your bank for more information to avoid unnecessary confusion.

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