What should I do if my debit card is lost or stolen?

If a debit card is lost or stolen, it is important to act quickly to protect personal financial information and prevent unauthorized transactions. The first step to take is to monitor recent account activity. Checking for any transactions that do not seem authorized can help in identifying potential fraud early on. Next, one should immediately contact the financial institution that issued the debit card to report the loss or theft. Many financial institutions, including Applied Bank, have dedicated customer service lines for reporting such incidents, and they are typically available twenty-four hours a day. Reporting the situation promptly will allow the bank to deactivate the lost or stolen card and potentially prevent any unauthorized charges. After reporting the loss, it is advisable to review the terms and conditions related to liability for unauthorized transactions to understand any coverage provided by the card issuer. Depending on the institution, they may issue a replacement card with a new number. Lastly, consider updating any recurring payments associated with the lost debit card once a new card has been received. For further details on what to do in this situation, it is a good practice to visit the official website of the relevant bank for specific guidance and contact information.