At present, the use of credit and debit cards is continuously increasing. People commonly call it plastic money. Running these two cards relieves the hassle of keeping cash. As fast as the usage of these two has increased, the news of fraud related to it is also coming out these days. Unfortunately if you are going somewhere and you lose your debit and credit card, then in this case what will you do first. We will explain to you through our news what you should do in this situation rather than being shocked.
If the card is lost or goes missing, first of all apply to get the card blocked by contacting your respective bank. If you have informed the bank about this, then 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 a situation, 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 fraud since the loss of the card. In this, the complaint has to be done as soon as possible, so try to inform the bank as soon as possible in such circumstances.
If you have a debit or credit card, read the policy carefully, because if the bank refuses to take responsibility and says that they are not liable in relation to any transaction done before the loss is reported. Then this burden will come on you because the cardholder has to prove that it is not his fault.
If you successfully prove this, the card issuing bank gives you back the amount you have lost. But this process takes time. Therefore, try to always be alert about your card and immediately inform the bank of it.