How to cancel a card in case of theft or loss?
Whether due to carelessness, loss, fraudulent use, or theft, in these cases canceling the card will be essential to avoid greater evils. Above all, speed comes first, so we must block the card the moment we notice that we do not have it. To do so there are different alternatives:
How to block the bank card by phone?
Both the banking entities and the electronic money entities and the card issuers themselves have telephones available 24 hours a day to cancel it, which will work whether we are in Spain or abroad.
- Call the phone number of the specific Chase bank for this
- These phones are available 24 hours
- Check with the manager on the phone about the latest movements of the card
- The manager will take care of canceling the card from that moment
How to block the card by the bank’s ‘app’?
It is the fastest and easiest way to do it and practically all entities allow this alternative to cancel debit, credit, or prepaid cards from the bank’s application in the “Cards” section, we will have different ways of doing it.
- Access the bank app or online banking
- Select the “Cards” section
- Select “Settings”
- Click on “Card lock”
Now you can turn your cards on and off
According to HelpMyCash market analysis, 100% of bank apps allow you to temporarily turn off your cards and turn them back on later via mobile. When a card is powered off, it cannot be used. If we ever can’t find our card, we can temporarily turn it off until we’re sure it’s been lost or stolen.
Steps to follow to cancel and claim a card for theft
The steps to follow to cancel a card in case of theft or loss are as follows:
- Block the card: we can cancel a card by phone, at a branch, through remote banking, or through the entity’s app.
- File a complaint: if we have been victims of a robbery, we will have to file a complaint with the authorities (the bank could ask us for a copy of the complaint if we had to claim any amount). If we have lost it and before canceling it someone has used it without our consent, we will also have to inform the police.
- Check the card statement: we will have to verify that between the time we have lost the plastic and the time of cancellation no one has used it.
- Claim: if someone has fraudulently used our card, we will have to claim the bank to return the amounts spent.
- Request a new card: we will have to ask the bank or finance company to send us a new one to replace the previous one.
Key points of card theft insurance
All banks are required to include a policy that insures our money, under Royal Decree-Law 19/2018, of November 23, on payment services and other urgent financial measures.
If another person uses our card without our authorization, the bank will have to bear the losses according to the following conditions:
- Any money spent after the bank has been notified of the loss or theft of the card is for the account of the bank.
- All money except the first 50 euros that is spent before notifying the bank of the loss or theft of the card is paid by the bank.
- All the money that is spent fraudulently if it is a duplicate of the card, regardless of whether the bank has been notified or not, since it is understood that there is no way to know before having a charge on the card if the card has been duplicated.