What to Do if You’ve Lost Your Bank Card

Tom July 2022 Content Creator 6 min

Table of contents

We’re all familiar with the two most common causes of a stomach drop: plummeting from the steepest point of a rollercoaster, and opening your wallet to find you’ve lost your bank card. 

Whether stolen or misplaced, losing a card is a hassle that has to be dealt with immediately, but it’s not necessarily a cause for panic (unlike the scary parts of a rollercoaster ride). Today’s digital technologies make for a swift response and recovery following a lost bank card.

Banks and card issuing companies will take care of most of the hard work for you, but there are still a few things you’ll need to do to set the wheels in motion. Luckily, our blog post on what to do if you’ve lost your bank card will lay out these steps clearly for you, with a section on recovering your Penta Visa Card.  

What to do if you’ve lost your bank card in a nutshell

  • Make sure the card is lost and then use your app to block it immediately
  • Note down any information about when the card was stolen and when you blocked it
  • Request a written confirmation from your bank or financial institution concerning the lost card
  • Keep an eye on your account activity while the bank is investigating your claim
  • The limit of customer liability in Germany is €150
  • Look after your card in the future by having the information written down, staying organised with your stuff, and regularly monitoring your transactions

1) Block or close the card immediately

If you’ve checked all your pockets, bags, hidden card slots, and retraced your steps, you need to assume the card is lost. And if the card is lost, that means it can be picked up and used by anyone who finds it, so step one is contacting your bank and blocking the card.

This can usually be done over the phone or via chat, or in some cases on the app on your phone. Some banks and financial service providers offer the option to temporarily block your card. This is a good option if you suspect you’ve merely misplaced it around the house or your 4 year old ran off with it for some unknown reason. 

Check your account

Once you’ve blocked the card, log onto your app or computer and check your account immediately, even if you didn’t receive any notifications of withdrawals. It’s best to make sure if there’s any suspicious activity so you can report it as soon as possible. If you do find transactions you don’t recognise, note the time and date, take all the details down and pass it along to the financial institution in charge of your accounts.

2) Note the rough time of loss and blocking

It’s important to clearly note both the time at which you believe you lost the card, and the time it was locked. Along with any fraudulent transactions, keep all this information in a document or notebook so you can refer to it quickly if needed, when dealing with your financial institution. 

3) Follow up with a written confirmation

This doesn’t have to be done immediately, but by the next day would be ideal. Back up your call to your financial institution with a written confirmation via email or chat of what has happened, with the date and time included. Your card issuer may request confirmed information about the lost card, which you’ll want to be able to provide with authentication from your bank. 

4) Monitor your account while the bank investigates

Over the coming days while the bank is investigating your case, keep an eye on your account and monitor the progress being made by the bank. This is because banks typically have ten days to credit your account with any fraudulent charges, and another three days to report their findings on your case.

If the bank takes longer to get back to you, they should credit you with the missing amount until the issue is resolved. They then have 90 days to resolve the issue

Liability: What you owe in case of debit card theft

With a debit card, the situation is different because debit cards don’t have the same fraud protection as credit cards. There are laws limiting the liability on fraudulent charges on a stolen credit card, but they depend on you reporting quickly once the card is missing. 

In Germany, the limit of liability on the customer is €150. This is why you have to act quickly and stop the thief from making too many purchases, so that it doesn’t exceed the liability amount. 

What to do if you lose your Penta Card

Losing your Penta Card won’t be too much of a hassle. With our app features and dynamic customer support team, you’ll be protected and back in control of your card soon. 

  1. Log in to Penta Online Banking via desktop or mobile app
  2. Navigate to “My card” in the left menu
  3. Click on “Freeze card” to immediately protect your card from unauthorised use
  4. Contact our customer service on +49 30 255 585 803 or help@getpenta.com
  5. Once you have received your new card, you can completely deactivate the old one under “My card”

Lowering the risk in the future

Most of us will experience losing our card and one point or another—some more than others due to bad luck or absent-mindedness. Let’s go through a couple of things you can do to soften the blow when it happens, or reduce the likelihood of it happening.

Write down your card information

Write down your card number, expiry, and CVC and store it somewhere secure and readily accessible. This way, you can provide it to the relevant authorities at a moment’s notice. 

Monitor your transactions

Open your app regularly to check your transactions. This might end up being how you realise you’ve lost your card, rather than the next time you open your wallet, and you might catch any fraudulent transactions much earlier. 

Keep your card in the same place

Not only in your wallet, but keep your card in the same spot in your wallet. If possible, keep everything in the same spot in your wallet so you know immediately where to look and you know if your card has gone missing. A card floating between bag, wallet, and pocket is just asking for panic-stricken moments of assumed card loss.

Conclusion: what to do if you’ve lost your bank card

Having lost your bank card often causes a panic, but thankfully that panic is short-lived nowadays. Addressing the problem immediately and writing everything down is likely to stop the headache of having a lost card before it even happens. 

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