Today debit
cards have become an integrated part of our daily lives. These are useful for
easy transactions, and cash withdrawals. Debit cards help in eliminating a
lengthy transaction process of withdrawing money from the bank. At present, an individual only needs to go to
an ATM, enter a registered PIN number and withdraw the cash. These are plastic
cards which can even be used for any POS transaction as well.
cards have become an integrated part of our daily lives. These are useful for
easy transactions, and cash withdrawals. Debit cards help in eliminating a
lengthy transaction process of withdrawing money from the bank. At present, an individual only needs to go to
an ATM, enter a registered PIN number and withdraw the cash. These are plastic
cards which can even be used for any POS transaction as well.
Having a debit card is quite handy. But, there are also certain security concerns
associated with it. A lost or misplaced card can be a great risk for the holder.
In such instances, filing an FIR/GD is the first thing to do followed by
blocking the card. But the hassles of recovery, other than the risks of
fraudulent activities persist.
associated with it. A lost or misplaced card can be a great risk for the holder.
In such instances, filing an FIR/GD is the first thing to do followed by
blocking the card. But the hassles of recovery, other than the risks of
fraudulent activities persist.
Why is it important to block a lost/stolen ATM
card?
A debit
card is directly linked to the card holder’s bank account. If you lose your
debit or ATM card, you are obviously exposed to significant risks. Therefore,
as a cardholder, you should know how to block an ATM card.
card is directly linked to the card holder’s bank account. If you lose your
debit or ATM card, you are obviously exposed to significant risks. Therefore,
as a cardholder, you should know how to block an ATM card.
How to block a debit card?
There are a number of approaches in which an individual can block their debit or ATM card.
Four of the most common ways are given below.
Four of the most common ways are given below.
1.
Block debit card online
Step 1:
Visit the respective website of your financial institution or debit card
provider
Visit the respective website of your financial institution or debit card
provider
Step 2: Log
in to the respective net banking portal using the registered password and
username
in to the respective net banking portal using the registered password and
username
Step 3:
Select the ATM card services option. Choose the option to ‘block ATM card.’
Select the ATM card services option. Choose the option to ‘block ATM card.’
Step 4:
Choose the ATM card you want to block by entering the details.
Choose the ATM card you want to block by entering the details.
Step 5:
Click on continue after choosing the right option.
Click on continue after choosing the right option.
Step 7:
Enter/Choose the ATM card number.
Enter/Choose the ATM card number.
Step 8:
Scroll down on the page and mention whether it was lost or stolen.
Scroll down on the page and mention whether it was lost or stolen.
Step 9: An
OTP (One Time Password) will be provided.
OTP (One Time Password) will be provided.
Step 10:
Select the ‘Submit’ option.
Select the ‘Submit’ option.
2.
Through SMS
There is
also, the feature which provides the opportunity for ATM card block through a
simple SMS. The SMS needs to be sent in the format respective to the financial
institution. After accepting the block request, the cardholder will receive a
confirmatory SMS alert with a ticket number, time and date of blocking.
also, the feature which provides the opportunity for ATM card block through a
simple SMS. The SMS needs to be sent in the format respective to the financial
institution. After accepting the block request, the cardholder will receive a
confirmatory SMS alert with a ticket number, time and date of blocking.
3.
Via phone call
This is the easiest option involving minimal hassle. A cardholder can block his/her ATM
card with the help of the respective customer service portal. Worth mentioning,
an actuation of such a process may require an extensive timeline.
card with the help of the respective customer service portal. Worth mentioning,
an actuation of such a process may require an extensive timeline.
You can opt
for Wallet
Care insurance from the Pocket Insurance schemes brought to you by Bajaj Finserv to
block your lost ATM card with just a single call.
for Wallet
Care insurance from the Pocket Insurance schemes brought to you by Bajaj Finserv to
block your lost ATM card with just a single call.
4.
Visiting the nearest branch
In case one
is not comfortable with the above options, he/she can visit the nearest branch.
is not comfortable with the above options, he/she can visit the nearest branch.
Replacing the debit card
In the case of
a lost card, an individual can also opt for replacement. The cardholder can
order a replacement of the ATM card in the following ways.
a lost card, an individual can also opt for replacement. The cardholder can
order a replacement of the ATM card in the following ways.
1.
Ordering replacement of ATM Card
Online
·
Login
using registered ID and password
Login
using registered ID and password
·
Select
customer service
Select
customer service
·
Select
ATM replacement option
Select
ATM replacement option
·
Select
the appropriate card from the drop-down menu
Select
the appropriate card from the drop-down menu
·
Click
on continue
Click
on continue
·
Verify
the information
Verify
the information
·
Click
on confirm
Click
on confirm
2.
Visiting the local branch
One can
visit the local branch to order an ATM card replacement. This process may be
associated with some hassle but some people prefer this to the other methods.
visit the local branch to order an ATM card replacement. This process may be
associated with some hassle but some people prefer this to the other methods.
3.
Contact customer care
Calling a
customer care advisor can be another option which allows you to apply for a
replacement without any hassle.
customer care advisor can be another option which allows you to apply for a
replacement without any hassle.
Bajaj Finserv
brings you Pocket Insurance schemes such as Fraudulent Charges Cover to protect you from any unauthorized charges debited via your card.
brings you Pocket Insurance schemes such as Fraudulent Charges Cover to protect you from any unauthorized charges debited via your card.
Losing an
ATM card is quite common. It can be a potential threat to the owner. As a debit
cardholder, note that any fraudulent transactions on your card is irreversible.
So, activities beyond your consent will lead to loss of money which you will be
unable to recover. Make sure you avail an insurance policy for financial
coverage against such unwanted situations without delay.
ATM card is quite common. It can be a potential threat to the owner. As a debit
cardholder, note that any fraudulent transactions on your card is irreversible.
So, activities beyond your consent will lead to loss of money which you will be
unable to recover. Make sure you avail an insurance policy for financial
coverage against such unwanted situations without delay.
