What Steps Should I Follow to Block my ATM Card?

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.

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.

Why is it important to block a lost/stolen ATM

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.

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.

Block debit card online

Step 1:
Visit the respective website of your financial institution or debit card
Step 2: Log
in to the respective net banking portal using the registered password and
Step 3:
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.
Step 5:
Click on continue after choosing the right option.
Step 7:
Enter/Choose the ATM card number.
Step 8:
Scroll down on the page and mention whether it was lost or stolen.
Step 9: An
OTP (One Time Password) will be provided.
Step 10:
Select the ‘Submit’ option.

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.

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.

You can opt
Care insurance
from the Pocket Insurance schemes brought to you by Bajaj Finserv to
block your lost ATM card with just a single call.

Visiting the nearest branch

In case one
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.

Ordering replacement of ATM Card

using registered ID and password
customer service
ATM replacement option
the appropriate card from the drop-down menu
on continue
the information
on confirm

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.

Contact customer care

Calling a
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.

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.

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